KWANIA- Kwania North Persons with Disabilities [PWDs] saving and credit cooperative organisation [SACCO] has received an more Shs 20 million to boost the seed capital for its beneficiaries under Emyooga programme.
The money was wired into the SACCO’s account after passing an assessment by the Ministry of Finance, Planning and Economic Development [MFPED] as the best excelling Emyooga SACCO under the Presidential Initiative on Job and Wealth Creation.
Other SACCOs that benefited from the additional funding include; Kwania North Veteran SACCO, Women Entrepreneurs, Kwania Political SACCO and Kwania North Carpenters’ SACCO.
Catharine Akello, Kwania District Principal Commercial Officer said Kwania PWDs SACCO emerged as the best performing SACCO in the district according to the audit report released by Microfinance Support Centre [MSC].
“Out of the 23 SACCOs that I submitted for audit, Kwania PWDs SACCO emerged the best performing SACCO in the district, out of the Shs 27mln loaned out, the recovery was 98 percent and their SACCO is growing so fast,” Akello said.
She added that out of the 36 SACCOs that benefited the Emyoga cash, only 30 are able to recover the money, but other six SACCOs that include the Boda-boda SACCO, Local Leaders and Youth SACCO leaders have disappeared with the money to the tune of Shs 210mln.
Lydia Abuk, the Chairperson of Kwania North PWDs SACCO said they have already received the 20mln additional funding’s out of the Shs Shs 30mln seed capital they received last year. She hailed government for the financial support rendered to them.
“Government gave us the seed capital of Shs 30mln which has currently grown to Shs 69mln. I also want to confirm to us that we already have an additional Shs 20mln in our account. Please request for the loan and do business. It is against this background that I thank wholeheartedly President Museveni for the support,” she adds.
Lawrence Acobi, Alex Ageta and Mary Atowang all members of Kwania PWDs SACCO told theCooperator that the money borrowed from Emyooga SACCO has greatly improved on their livelihoods.
Addressing the SACCO members during the Annual General Meeting held on Wednesday at Ikwera Holy Trinity Church, Kwania Deputy RDC Proscovia Acam asked the SACCO members to use the new funds to improve their household incomes.
“Let our business help us to build our homes and develop our children. I love women too much and sometime, I have too much compassion for them. Let business not separate you from your husbands. You know when a woman has money, everything in the home changes but regardless of the money you have, even the Bible says your husband is the head of the family and Jesus is the head of the Church,” she said.
Kwania North PWDs SACCO started in June 2021 and is among the 36 SACCOs that benefited from the Emyooga fund in Kwania district. The SACCO currently has 224 members and eight associations and currently has a loan portfolio of Shs 96mln.
https://thecooperator.news/over-300-emyooga-saccos-in-masaka-to-get-extra-shs-20mln-each/
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