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800 SACCOs in Kampala to Benefit from Emyooga Fund

Kampala City Council Authority (KCCA) has revealed that 800 SACCOs in Kampala and Wakiso are to benefit from the presidential initiative on wealth and job creation (Emyooga) with a membership of 10 to 15 associations.

The initiative was launched in August 2019 by President Museveni.

Emyooga is a part of government efforts aimed at job creation, improving household incomes of Ugandans. 68% of the targeted beneficiaries are engaged in business spheres such as boda boda riders, taxi drivers, restaurant owners, welders, market vendors, women entrepreneurs, youth, people with disabilities, journalists, performing artistes, veterans, fishermen and elected leaders.

Speaking to the press at Uganda Media Centre on Tuesday January 12, KCC and Metropolitan Affairs Minister Benny Namugwanya revealed that the first batch of 140 SACCOs from Kampala have received funding worth Shs 4.24Bn and others are being processed.

“The primary objective is to nature a culture of saving amongst citizens doing the same trade,” she said.

Namugwanya said that the initial estimated budget was 260B but 50B was later added.

“Shs 50B was added because of the uniqueness of Kampala and Wakiso. The distribution of funds between the districts is Shs 26B and Shs 14B respectively,” she said.

“An addition Shs 10B is embarked to support groups that do not fall in the original Emyooga categories like visual artist, herbalists, gym trainers, waiters and waitresses, cobblers, bar attendants among others,” she added.

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Namugwanya called upon the public to utilize the funds to start small businesses and noted that it will help curb the problem of unemployment.

“We are calling upon the people of Kampala and Wakiso that have not yet constituted their associations and belong to the 18 Emyooga categories to approach the Division Community Development Office,” Namugwanya said.

 

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