Government injects shs30bn as Kampala is accorded special status in  Emyooga initiative

The State Minister for Finance in charge of Microfinance, Haruna Kyeyune Kasolo has revealed that government injected shs30 billion as part of the Emyooga presidential initiative for job and wealth creation in the central business district of Kampala.

“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 on Monday during the launch of the initiative in Makindye division.

“In Kampala, the project will be at parish level instead of the constituency.”

Explaining the special status, the Minister in charge of microfinance said whereas both Kampala and Wakiso had been given shs40 billion, Kampala had got a lion’s share of shs30 billion.

Kasolo however aimed a dig at the people of Kampala whom he accused of being used to handouts that he said have not helped them get out of poverty.

“The biggest problem of the people of Kampala is their mindset.  You believe in free money but even if you got it, it has not helped you.  You need to be prepared on how to use money or else you will never become rich even if billions and billions of money are injected,”Kasolo.

The Minister also warned against politicizing the program that he said is meant to alleviate poverty and not a campaign tool.

“This is a government program and not meant to campaign. It is not for NRM people only but everyone in Kampala.  You are sitting on wealth but you didn’t know. This program if embraced by everyone will ensure you are wealth,”Kasolo said.

Explaining the main item behind the project, Kasolo said that the people of Kampala can only benefit from it through saving and not looking at the shs30 million seed capital that government is to inject in each sacco.

“For me I am looking and the much more money that you can raise by saving in your saccos and not the shs30 million that we are giving you.  You can save a lot and borrow from your own sacco for your own development.  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.

The Emyooga initiative targets Ugandans especially in the informal sector who come together in form of saccos under 19 clusters including 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 shs30 million as seed capital, save for the private teachers and leaders that will each receive shs60 million and 50 million respectively.

The program is part of the broader NRM principle of socio-economic transformation in which the government has committed 68% of the country’s homesteads, currently in the subsistence of market-oriented production.