Shs 1.78bln injected in Apac Emyooga SACCOs
LIRA, October 19, 2023 – Government has so far disbursed Shs 1.78 billion to Emyooga SACCOs in Apac, according to George Abudul, the Resident District Commissioner.
Emyooga is the presidential initiative on wealth and job creation launched in August 2019 as part of the broad government strategy targeting to transform 68 percent of homesteads from subsistence to market-oriented production.
Abudul said the Shs 1.78bln was disbursed to 50 Emyooga SACCOs, even though he added that the repayment has been a big challenge.
He said they have decided to use the court process to recover the funds from defaulters so that other beneficiaries can use it to develop themselves.
Implemented by the Microfinance Support Centre [MSC] the Emyooga programme targets SACCOs for welders, drivers, boda boda riders, journalists, salonists, performing artists, restaurant owners, tailors, and mechanics among others.
On Oct 16, 2023, Apac Grade One Magistrate, Ruth Janet Adeke remanded three members of Maruzi North Welders` SACCO to Atopi Prison for six months for failing to pay back Shs 15 million which they borrowed.
Praising the sentencing of the trio Abdul said; ” We tried all the persuasive means to talk to those who borrowed this revolving fund to pay back, but all we would get is, this was a presidential handshake we can’t pay back.”
Abudul is optimistic that collecting the money through court process will bear some fruit, saying Emyooga money is not for free and is meant to benefit all members of the various SACCOs.
“This money was meant to benefit all members of the SACCO but not only greedy members who don’t want to pay back,” he added.
Apart from the Elected Leaders’ SACCOs that access 50ml each, the rest of the SACCOs under Emyooga Programme each accesses a grant of Shs 30mln channeled through MSC and disbursed directly to the accounts of beneficiary SACCOs.
https://thecooperator.news/kwania-emyooga-funds-improving-livelihoods-of-pwds/
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