MASINDI, January 3, 2024 – Masindi Municipality Journalists Emyooga SACCO has received an addition of Shs 20 million following their good performance.
The SACCO is among the 19 cluster SACCPO which got a seed capital of Shs 30mln under the Emyooga programme on wealth and job creation.
“We were considered because of our good performance, holding annual general meetings, having proper accountabilities and good recoveries,” said Edward Ziwa Majaju the SACCO Chairperson.
Majaju called upon the members to apply for the money and utilise it, adding that the members who first got the money have invested it well.
Other Emyooga SACCOs including the one for local leaders, produce, taxi drivers, tailoring and salon also got got an addition of Shs 20mln.
Cumulatively, Shs 374mln has been recovered from 18 Emyooga SACCOs in Masindi Municipality since 2021, according to Robinah Nyangoma, the Emyooga Focal Person who revealed the figures on Thursday during the budget conference.
She noted that Masindi Municipality received Shs 600mlnn as seed capital from government, adding that members from different SACCOs have so far saved a cumulative amount of of Shs 328mln.
“So far we have disbursed loans amounting to sh1billion. Share capital stands at 4,900,000 and Shs 1.9mln has been got from registration,” she noted.
In 2020 while launching Emyooga programme in Masindi, Haruna Kasolo, the State Minister for Microfinance, revealed that government would inject Shs 620mln into each constituency to fund businesses under 19 selected clusters that include Boda-boda riders, salon owners, carpenters, taxi operators, welders, market vendors, journalists, performing artists and mechanics, among others.
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