SOROTI, March 10, 2025 – After waiting for many years, Journalists in Soroti County, Soroti district, are now smiling after receiving a registration certificate that allows them to access funds worth Shs 30 million, which have been deposited into their SACCO bank account under the Emyooga Programme.
Emyooga is a presidential initiative launched by President Yoweri Museveni in August 2019, as part of the government’s ongoing efforts to transform 68 percent of Ugandan households from subsistence to market-oriented production.
Edward Eninu, the Chairperson of Soroti County Journalists Emyooga SACCO, acknowledged recently during a training session for journalists about the programme that their SACCO has finally received the registration certificate and is now able to access the bank account.
“We now have the right to withdraw the money, but that doesn’t mean we can access it without the permission of the district officials,” said Eninu.
He urged the members of the SACCO to work hard and save, so that the SACCO can receive an additional Shs 20 million in the coming financial year, which starts on July 1, 2025.
He explained that the money belongs to the SACCO as a revolving fund and encouraged members who take loans to repay them as stipulated by the government through the Microfinance Support Centre [MSC], which is responsible for disbursing the funds to Emyooga SACCOs countrywide.
Eninu also urged the members to pay a membership fee of Shs 10,000 and an annual subscription fee of UGX 20,000 if they wish to access money from the SACCO to support their personal development.
Meanwhile, Maurice Okwii, the Chairperson of the Loans Committee, encouraged SACCO members to borrow funds and repay them promptly so that other members can also benefit from the revolving fund. “We don’t want a situation where we have to chase you to repay the money borrowed. You must know your obligations as a debtor,” said Okwii.
He urged SACCO members to start saving with the SACCO, noting that if each member saves at least Shs 100,000, the SACCO’s capitalisation will increase and boost the loan portfolio of the institution.
Okwii emphasised that many SACCOs in the area are failing because members are reluctant to repay their loans, which he attributed to members not using the funds for their intended purpose.
Robert Enou, the Commercial Officer for Soroti District, also trained the journalists and urged them to invest their funds properly so that they can generate profits and repay their loans, rather than spending the money on consumption.
He pointed out that some SACCOs have failed due to poor enterprise selection by members and a lack of information, a situation he said should not apply to the journalists, who are generally well-informed.
Enou encouraged the journalists to take a keen interest in other successful SACCOs to learn from their experiences.
He also urged SACCO leaders to be cooperative and maintain proper records, stating that this is another key factor in the success of a SACCO.
Launched to create jobs and wealth, the Emyooga Programme targets 18 categories of specialised Ugandans, including boda boda riders, taxi drivers, and restaurant operators.
Others are; welders, market vendors, women entrepreneurs, youth leaders, people with disabilities, journalists, performing artists, carpenters, salon operators, tailors, mechanics, and produce dealers.
https://thecooperator.news/emyooga-gulu-drivers-acquire-taxi-to-boost-incomes/
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