Business

Minister Kasolo Preaches Saving Culture

The State Minister for micro-Finance, Hon. Haruna Kyeyune Kasolo has said Ugandans need to embrace the culture of saving, if they are to come out of poverty.

“The most important thing is; Ugandans should learn to save because saving is very important; if you save well, you will get out of the trap of poverty,” he said.

“People earn money but they don’t save; this makes them very vulnerable. Even if you are earning small money, you can still save some.’’

Hon. Kasolo was speaking on Wednesday at the Official launch of the Presidential Initiative on Wealth Creation also known as ‘’Emyooga’’ from Gulu town.

He added that Government has allocated about 110 billion shillings as seed Money for organized groups in the whole Country, adding that the money will be given to 18 categories of groups of people.

The groups include Local leaders, the Bodaboda community, Musicians, Journalists among many other groups.

The Minister says government wants to test and see if the program can work, before they role the program in the whole country.

Each district will get about 560 million shillings to be distributed to the identified and selected groups.

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Minister for disaster Preparedness, Hon. Hillary Onek who was also among the Acholi leaders at the meeting urged people in Acholi sub-region to avoid living luxurious live and start saving money.

“Personally, I was able to build Bomah Hotels and other businesses that I have because I was not luxurious, but I worked hard and saved every penny that I earned,’’ said  Hon. Onek.

Uganda has experimented and implemented many programmes such as Rural Farmers Scheme, Modernisation of Agriculture, Poverty Eradication Plan, Prosperity for All, etc, all designed to fight and eradicate poverty.

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