Gov’t Injects Shs 40Bn in Kampala City Development SACCOs

The Government of Uganda through the Micro Finance department under the Ministry of Finance is set to inject up to 40 billion shillings in different  development SACCOs  formed by different Kampala and Wakiso district business groups and associations.

This plan was revealed by the State Minister for Microfinance, Hon. Haruna Kasolo on Monday in Makindye and Rubaga divisions respectively.

The Minister was launching the presidential initiative on wealth and job creation dubbed “Emyooga” that is centred on various enterprises and categories covering a majority of Ugandans.

“I have 40 billion shillings to give to organised constituency SACCOs at constituency level but with operations at parish and Ward level in Kampala and Wakiso district,” Minister Kasolo assured group representatives in Makindye and Rubaga divisions.

In the Central Business District, for instance Old Taxi Park, the Minister urged taxi operators to register at least 8 SACCOs and each will receive 30 million shillings to boost their transport businesses.

Likewise, people from other business categories such as boda boda operators, market vendors, tailors, snack sellers, shoe shiners, and many others in all city divisions were advised to form organised groups and be able to access the seed capital from government.

In both meetings, the Minister lectured people on the benefits of positively responding to government programs such as “Emyooga” as it is aimed at the socio-economic transformation of the country through wealth creation.

He urged people to learn saving from their businesses saying that many people are still poor due unplanned expenditures in unproductive ventures.

“Always work hard and work together and please always respond positively to government programs such as Emyooga. Give less time to unproductive activities,” Kasolo said.

According to him, people of Kampala waste a lot of time politicking government programs  and he attributed it to poor leadership in some parts of the city which has increased poverty.

The Minister instituted taskforces which are going to overlook and supervise this development program headed by Kampala Capital City RCC Faridah Mayanja Mpiima.

The events were also attended by the Minister of Lands Hon. Betty Kamya, officials from KCCA, local chairmen and councilors.

 

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