Lira Taxi Operators Emyooga SACCO on growth path

LIRA-Members of Lira Taxi Operators Emyooga SACCO in Lira City are reaping big from their transportation business and expect to grow as business booms.

The SACCO’s business came to life after government in March 2021 disbursed Shs.2.5 billion to both Lira district and Lira City Emyooga SACCOs with each SACCO group receiving Shs.30 million to be invested and paid back at 3 percent interest rate.

According to Bernard Anyeko Masanga, the general secretary of the SACCO said members agreed during the annual general meeting [AGM] to use Shs 30ln received to buy a commercial taxi, which is earning them money every day.

“Lira Municipality Taxi Operators Emyooga SACCO started in 2020. After receiving the Shs 30mln, we resolved to buy a taxi. We earn between Shs 120,000-150,000 on a daily basis,” he said.

“The SACCO has grown from the initial Shs.30 million seed capital to Shs.60 million loan portfolios. It has employed a number of people and is transforming lives,” he said.

Edward Ogali, a member of the Emyooga SACCO and resident of Kirombe North in Lira City West Division said he has benefited from the SACCO.

“From the savings, I was able to borrow Shs.5mln which helped me start a piggery business. I am now able to take care of my family and pay school fees for children,” Ogali said in an interview on Monday.

According to Lira City principal commercial officer, Benard Okello, Lira Taxi Operators Emyooga SACCO is among the best-performing SACCOs in Lira City.

He however said many Emyooga SACCOs are not performing well due to the setbacks brought about by the Covid-19 pandemic that has hit hard the economy.

Meanwhile, Santos Olade, the Lira district acting commercial officer said, “A number of Emyooga SACCOs in both Lira City and Lira district is changing lives, especially Lira Taxi Operators Emyooga SACCO, the PWDs SACCOs, and the Youth Emyooga SACCO in Erute North County.”

Emyooga Programme was launched in 2019 by President Yoweri Museveni to create wealth and jobs. The programme targets 18 clusters that include among others, the boda boda riders, welders, mechanics, journalists, and taxi operators.

https://thecooperator.news/most-emyooga-saccos-in-arua-fail-to-get-extra-cash/

Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news