Over 600 groups in Masindi have been registered to benefit from the Presidential Initiative on Wealth and Job creation (Emyooga).
In July this year, the State Minister for Microfinance, Haruna Kyeyune Kasolo, officially launched the programme in Masindi district.
During the launch, the minister revealed that government would inject Shs 620m into each constituency to fund 19 selected clusters that include Boda-boda riders, salon, carpenters and taxi operators, welders, market vendors, Journalists, performing artists, mechanics among others.
Under the project, each enterprise group with a minimum of 30 members will receive up to Shs 30m in funding, which will be accessed as a revolving fund by members to boost their respective income-generating ventures, at interest rates as low as 5 percent annually.
According to Godfrey Bahemuka, the District Community Development Officer (DCDO) Masindi, people in the district have embraced the programme, and more than 600 groups have already been registered for it.
“We expect to register over 1000 groups in the entire Masindi district,” Bahemuka said.
According to statistics obtained from the DCDO’s office, 330 of the registered groups are from Masindi municipality, 215 from Bujenje County and 93 from Buruli County.
“Over 200 groups were submitted to microfinance support centre in the first slot and they are ready to receive the money.”
Bahemuka noted that the majority of individuals who have embraced the program include the produce dealers, women entrepreneurs, salon operators and market vendors.
“I am wondering why the bodaboda riders have not embraced the programme and yet they are many. In Masindi we have over 3000 bodaboda riders but only 32 have registered across the district,” he added.
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