OMORO – Several boda boda groups in Omoro district have received Shs 30 million pledged by President Yoweri Museveni recently.
Museveni made the pledge to support the boda boda cyclists during a thanksgiving service organised by Catherine Lamwaka, the Omoro district Woman Member of Parliament in Opit town board, Omoro district.
MP Lamwaka, whom the president assigned to follow up on the pledge started has started distributing the pledge to the various boda boda groups within the district.
ON Monday, Acet Town Council received Shs 2 million which was distributed to 3 boda boda stages, while six boda boda stages shared Shs 2mln in Odek Sub-county.
According to Lamwaka, each of the sub-counties and town councils in the district has been allocated Shs 2mln.
She said the money is meant to boost the boda boda business through savings, adding that many of the cyclists in the district picked motorcycle loans from financial service providers.
Lamwaka warned the cyclists against distributing the money amongst themselves but instead use it as seed capital to boost their businesses and better their lives.
By around this time next year, we shall engage all the boda boda stages that received the money to understand how it has impacted their lives”, Lamwaka said.
“Most times when money is given to groups, members end up dividing and eating it away. That is why many of them have struggled to move out of poverty,” she said.
Denis Opira, a boda boda cyclist, who operated in Acet town council said they agreed to save Shs 600,000 in their SACCO so members can borrow and return with some interest.
“This way we are able to invest and save the proceeds of the money other than just eating or drinking it away,” Opira said.
https://thecooperator.news/boda-boda-riders-urged-to-form-saccos/
Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news
Views: 1
