On his journey to launching the Presidential Initiative on Wealth and Job Creation (Emyooga) throughout the whole country, the State Minister for Micro Finance, Hon. Haruna Kasolo Kyeyune took the program to Makindye and Rubaga Divisions on Monday.
While speaking to the Makindye leaders and invited locals who graced the unveiling event, Kasolo disclosed that Kampala and Wakiso Districts will be funded with UGX 40 Billion through the newly launched “Emyooga” program.
The Minister further revealed that Kampala will take a lion’s share of UGX 30 Billion out of the UGX 40 Billion allocated to the two districts.
“Whereas in other areas, saccos are formed at constituency level, in Kampala, the 18 saccos are formed at parish level. For taxi drivers, their sacco will not be at the parish but rather in four taxi parks. For boda bodas, the stages in each parish will become the sacco,” Kasolo said
Kasolo further assured the youths of both Makindye and Rubaga Divisons that they will be funded, provided they start saving in groups/associations.
He also advised the citizens to look at the UGX 30 million that will be given to each SACCO as seed capital, instead of seeing it as an easy way to escape poverty.
“The shs30 million is only seed capital to assist you but don’t look at it as the way to get you out of poverty. You have to save a little of what you earn,” he said.
Under the Emyooga program, Ugandans especially in the informal sector will be funded through saccos. The beneficiaries must fall under the 18 categories of; Boda boda riders, taxi drivers, restaurants, welders, market vendors, women entrepreneurs, youth leaders, people with disabilities, journalists, performing artists, veterans, fishermen, private teachers and elected leaders.
Each of the saccos will receive UGX 30 million as seed capital while private teachers and elected leaders will receive UGX 60 million and UGX 50 million respectively.
Just like in other divisons where the program was launched, Kasolo urged citizens to embrace the program and avoid politicizing it.
“You are sitting on wealth but you didn’t know. This program if embraced by everyone will ensure you are wealthy,”Kasolo said.
Kasolo’s teachings in both Rubaga and Makindye divisions urged Ugandans to start saving. HE believes that most Ugandans are poor because they deliberately refuse to save.
The Rubaga event was also graced by Minister Beti Kamya, alongside other leaders like the Kampala RCC, Faridah Mayanja among others. Singer-turned politician Daniel Kazibwe alias Ragga Dee was also in attendance.
The project is being implemented by the office of the president, the ministry of finance, planning and economic development, the Microfinance Support Centre (MSC), district local governments and YASPED (Youth Action for Social Political and Economic Development).
