The Microfinance Support Centre (MSC) has urged Ugandans to refrain from the politicisation of the presidential initiative on job creation commonly known as Emyooga if the programme is to achieve its intended objectives.
The Emyooga programme has been criticised as an initiative designed to further NRM’s tight grip on power.
According to the officials at the MSC, this is affecting the fund’s performance.
The remarks were made during the engagement with the media on the progress of the Emyooga fund which was put in place by the president to improve the livelihood of Ugandans.
John Peter Mujuni, the executive director Microfinance Support Centre said that in the programme, saving is very paramount.
“The salvation of Uganda is going to come from savings. It is a very important area for us as the Microfinance Support Centre and us as a country,”he said.
He noted that Emyooga is one of the biggest anti-poverty government programmes, with wide coverage, and continues to attract public interest.
James Muhwezi, Resource Mobilisation manager at the Microfinance Support Centre, said that for the government to lift 68% of Uganda’s households from subsistence into the money oriented market, media partners are key.
“68% of our Ugandans are still stuck in subsistence farming. What does that mean that you are more vulnerable to poverty.It is therefore in the interest of Microfinance Support Centre to partner with the media to enhance the dissemination of information, educating the masses especially on savings and cooperatives as a vehicle for development,”he said.
He noted that the Emyooga seed capital is not a loan but rather a grant to organised SACCOs.
It charges an interest rate of 8-12%.
To join an association, Muhwezi,said each member has to pay a one-off membership fee of Shs 10,000 and a one-off annual subscription fee of shs 10,000 to the association.