Through Emyooga, gov’t is giving Ugandans knowledge to make them rich, says Minister Kasolo

The State Minister for Microfinance, Haruna Kasolo has said that through Emyooga program, government is ready to give Ugandans knowledge and seed capital to make them rich.

“I want to assure you that this time, we have made it compulsory, and you no longer have a choice to be rich. We have already decided for you. We have recruited parish chiefs and each will be given a computer to register all people in his area. We can now plan for people we understand. We want to know, what business you know. If you have a bar, we cannot improve your business by giving you a cow,”Kasolo said.

“We have had so many government programmes, and you say whatever comes from government is for eating. That time is over. Don't say whatever comes from government is for eating. Whatever you get, make sure it multiply. We are ready to give you knowledge and seed capital to make you rich.”

The minister was on Wednesday speaking as part of the monitoring process of the Emyooga program in Ntoroko district.

The minister said that in the next financial year, the Microfinance Support Centre will add an extra shs20 million as seed capital to saccos that have exhibited good performance.

“We have to make sure every Ugandan has access to cheap credit. We are planning for you. We have to make sure every Ugandan has a daily income generating activity. If you want to be rich, you have to earn every day. Poor people are those who earn on a monthly basis. That is why Emyooga targets daily income earners. We want to organise and sensitize you to change your mindset. If we find you without a daily income, it will be an offence,” he said.

Financial discipline

Minister Kasolo told the people of Ntoroko that in order to become rich, they ought to have financial discipline and values that they follow routinely.

“Only spend when you must. When you are going to the market, do you have a list to guide your expenditure? When you have little money that cannot start a business, don't eat it. Save it and keep adding more. You must have financial discipline if you want to get rich. Those who are poor don't have financial discipline.”

“First save before you spend the money. What makes us poor is not government but indiscipline. There is no shortcut to getting rich unless you save. Change your mindset. Getting rich is changing mindset.”

He explained to locals that multitasking might not be so much useful to them as they might fail to concentrate on getting the best out of their businesses.

“Don't multi task. Concentrate on one business. If you are in bodaboda business, when you get money, don't go into piggery. Concentrate on bodaboda. My message to you is, get money and expand the business you know better. You can do another business after you have expanded that,” he urged.

"Invest money in daily income generating activities. Once you are assured of daily earning, you are okay because you eat daily and spend daily. That is why salary earners never get contented. A monthly salary should help you have capital. At the end of every month, when you pass by the bank, you only see salary earners. They can’t wait for the next day because they have already eaten  the salary of the  previous month. You will not find a bodaboda or taxi lining up at the bank at the end of the month.”

Kasolo however warned beneficiaries against defaulting n repaying loans got from Emyooga saccos.