HOIMA, December 5, 2025 — Masters of Ceremonies [MCs] and media panellists in the Bunyoro Kitara Kingdom have reason to celebrate after President Museveni injected Shs 100 million into their Savings and Credit Cooperative Organisation [SACCO].
The money forms part of a Shs 1.8 billion national package to be distributed to MCs across Uganda’s 18 sub-regions, with each region allocated Shs 100mln. Beneficiaries will access the funds as soft loans at an interest rate of 6 percent to help improve their livelihoods.
While launching the disbursement recently, the State Minister for Public Service, Grace Mary Mugasa, said the President established the fund after observing that MCs and media panellists had not benefited from other government programmes such as the Parish Development Model [PDM] and Emyooga.
She stressed that the money is a loan, not a donation, and must be used strictly for development purposes. Beneficiaries are required to sign agreements and undergo training in loan management before receiving funds. Mugasa further emphasised that loan repayments are essential to maintain the revolving nature of the fund so that others may also benefit.
“We have given out this money during campaign time, but it is not campaign or political money. This is seed capital; you are required to invest it in profitable ventures and pay back, since it is a revolving fund,” she said.
However, Mugasa expressed concern that some beneficiaries of PDM and Emyooga had mismanaged funds previously given to them, noting that they must still repay what they borrowed.
Hoima City Resident Commissioner Baduru Mugabu urged beneficiaries to use the funds productively. “With cash in the account and leadership training in place, Bunyoro’s MCs and panellists are ready to turn opportunity into growth, proving that talent, backed by smart support, can thrive,” he said. He also encouraged members to embrace a saving culture and buy shares in the SACCO to strengthen its capital base.
Fred Makuru Omuhamba Akiiki, the Acting Chairperson of the SACCO, commended President Museveni for the support and said members intend to invest the money in income-generating projects. He noted that the SACCO currently has 76 registered members from districts of Hoima, Masindi, Buliisa, Kakumiro, Kagadi, and Hoima City. Beneficiaries received between Shs 1 million and Shs 2 million each.
“Each beneficiary will choose his or her own business to invest in, but I can confirm that this money is going to change our lives. We thank the President [Museveni] for remembering us,” he said.
Mose Bingi, the SACCO Secretary and a beneficiary, described the loan as a major boost for their ventures. “I applied for Shs 2 million, and once I receive it, I will use it to procure a device used in live streaming. I have been finding it hard to do live streaming due to lack of this equipment,” he said, commending the President for the support.
https://thecooperator.news/teso-journalists-embrace-saving-culture-to-boost-livelihoods/
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