The Microfinance Support Center Executive Director John Peter Mujuni on Wednesday engaged with the media on the progress of the Emyooga fund which was put in place by the president to improve the livelihood of Ugandans.
Emyooga targets 18 constellations, including restaurant owners, boda bodas, women entrepreneurs, carpenters, salon operators, journalists, people with disabilities, fishermen, mechanics, performing artists, and taxi operators, among others.
Addressing the gathering at Kampala’s Golden Tulip Hotel, he said media as one of the most critical partners in the journey of transforming the social-economic transformation of Ugandans.
“We (MSC) thank you for giving us feedback on what you think, what you feel about the Emyooga program. I can say that we are very much on the same page about the concerns. We share the concerns and I think once we address completely the various concerns, we will have be a wonderful program.”
He added, “The person in Kapchworwa wants to hear about who is succeeding, which SACCO is succeeding in Mbale so they can pick lessons and also make their SACCOs succeed. So they are looking up to you, you’re the ones to do this job.”
Formed in August 2019 by President Museveni as a response to the high levels of poverty, where 68 per cent of Ugandans depend on subsistence farming, Masika explained that under the Emyooga project, Shs200b has already been disbursed to 6,394 Saccos in 146 districts.
The implementing agency, MSC, recommended a nominal share value for each member at Shs100,000 and Shs50,000 for membership.
“But the greatest achievement is that by April, the Saccos had saved Shs9.9b. This is positive in regards to the poor savings culture in the country,” revealed Ms Hellen Masika, the MSC deputy executive director,