Kyenjojo district tops Rwenzori region in Emyooga performance

The Minister of State for Microfinance, Haruna Kyeyune Kasolo has said he is impressed by Kyenjojo district for its top performance in Emyooga in the Rwenzori region.

"In greater Rwenzori, you (Kyenjojo) are the best performing. I have all the reports and Kyenjojo is the best performing district," he said.

"At national level, I want you to compete with Kampala, Masaka, and other cities and Constituencies, and become number one."

Kasolo made the remarks on Thursday while monitoring the performance of Emyooga program in Kyenjojo district.

Earlier, the district Commercial Officer, Adolf Kamara had noted that the district received shs1.68 billion as seed capital from the Microfinance Support Centre and a total of 20,098 members from 54 Emyooga saccos benefitted.

The report indicated that the saccos’ share capital is currently standing at shs99.5 million whereas savings are at shs765.4 million, shs3.1 billion given out in loans and shs1.9 billion of this recovered.

Minister Kasolo attributed this performance to good leadership in the district, singling out the Mwenge Central MP, Col Tom Butime who also doubles as the Minister for Tourism.

To this, the minister ordered that the local leaders’ sacco which emerged as the best performing sacco in  Mwenge Central constituency be given a motorcycle to aid in their operations.

I am directing Microfinance Support Centre (MSC) to deliver one motorcycle to you immediately.”

Meanwhile, the Kyenjojo RDC, Julian Ayesiga who is also the head of Emyooga taskforce in the district announced restaurant owners’ sacco as the overall best performing sacco with a 95% loan recovery.

She named the taxi operators, welders, PWDs and mechanics saccos as the worst performing in the district.

Speaking in response, Minister Kasolo applauded the best two performing saccos and gifted each of them with a motorcycle.

“I look at savings and recovery. When I look at savings and recovery, I see that produce dealers have performed better. But the RDC has already announced. I had decided that every best performing SACCO is gifted. Therefore, both SACCOs are going to be gifted with motorcycles," he said.

Kasolo reiterated that  Emyooga SACCOs that will exhibit good performance will be given an additional shs20 million as seed capital.

Minister Butime who was equally impressed with the district’s performance said they are ready to receive the additional shs20 million for each  sacco.

"My  people are ready to get more money (shs20m( and use it for its intended purpose. This is no longer money for government, it's our money,” he said.

Butime asked all the defaulters of Emyooga funds, and those that have not yet repaid to do the needful.

At the same meeting, Kasolo preached the gospel of saving, saying it is the only way wealth creation can be realized.

"You cannot be rich unless you earn money daily. Don't degrade business. Even if it is hawking eggs, frying chapatti or selling sugarcane, do it as long as it earns you money daily. You cannot be rich unless you save daily. If you save weekly or monthly, you are undermining poverty. Save every day. Don't mind about the amount, but do it consistently. That is why we are targeting daily income earners. Don't save alone, save with others. Saving with others is the tool for eradicating poverty," he said.

"The money you eat benefits you alone. The money you save, benefits you and your family. If you are sick, looking for school fees, it is the money you saved that will help you. To  be rich, a person  must save before spending," he emphasized.