Emyooga: Mayuge emerges best performing district in Busoga

Mayuge  has been ranked as the best performing district in the implementation of Emyooga program in Busoga sub region.

Muyuge's best performance was announced by the Minister of State for Microfinance, Haruna Kyeyune Kasolo as he monitored the performance of the program in the region.

"Bunya East is the best performing Constituency in Mayuge District and overall, Mayuge is the best performing district in the entire Busoga sub region. I therefore call upon the rest of the districts in Busoga to borrow a leaf from Mayuge. I was in Kaliro, and the performance was poor. I want to thank the leaders of this Constituency (Bunya East) for your effort to make this Constituency and the entire Mayuge District the best," he said.

The best performing sacco  was one for produce dealers which has 551 members and members were able to save shs40.5 million and a share capital of shs3 million.

Consequently, the sacco was given an additional shs20 million for having exhibited good performance.

The sacco secretary, Paul Bagoole presented the  performance report to Minister Kasolo in which he said that the money was lent out in form of loans to 14 out of 23 associations that form the sacco.

"We have so far managed to recover 70% of money lent out in loans," said Bagoole.

He however noted that they have faced a number of challenges including the Covid pandemic which affected businesses, political interference and poor saving culture among others.

District performance

Mayuge District is made up of three constituencies including Bunya West, Bunya East, and Bunya South which in total received shs1.68 billion.

The saccos across the district made savings worth shs1.4 billion and share capital of 126 million.

"Therefore, in total, Mayuge District received seed capital of shs1.68 billion from Microfinance Support Centre. Today the total disbursement to beneficiaries is shs3.081 billion  which started in late May 2021. This means that the people's own money in shares and savings is shs1.4 billion for the last one year up to June 30, 2022," said Mayuge District Commercial Officer, Richard Waiswa as he presented performance report .

"By June 30, 2022, only 5,802 people had benefited out of the 37,950 people, and this gives an average of shs 531,000  per beneficiary. This leaves 32,118 people still waiting to benefit from the seed funds," he added.

Waiswa further said that out of the shs3.08 billion s disbursed, the average recovery per month stands at 123 million, representing 48%.

The Zonal Manager for Emyooga Program in Busoga region, Nduho Mugyenyi informed Kasolo that all SACCOs were audited, and have since held their Annual General Meetings (AGMs).

"I am very proud of Mayuge district," he said.

Meanwhile, sacco leaders informed the Minister that seed capital received from Microfinance Support Center was small, and called for additional funds.

In response, Kasolo  highlighted a number of good performing SACCOs and asked RDC to recommend them for additional funds.

They included; women entrepreneurs, salon operators, produce dealers, restaurant owners, carpenters, boda bodas, mechanics, taxi operators, PWDs and fishermen.

"I see the SACCOs that qualify for additional funds are many. The money is there. Give it to them," Kasolo said.

Meanwhile, Kasolo directed all defaulters to pay back the loans or face arrest.

"Whoever borrowed this money, and is now giving excuses of COVID-19 and politics in order to default, we are going to arrest you. Commercial Officer, you are going to traverse all the three Constituencies of Mayuge District, and generate a list of all the defaulters. Write the name of the defaulter, telephone number, SACCO, place of residence, and the amount of money they borrowed from the SACCO. I want you to do that work in three weeks. You will send me a soft copy, and give hardcopies to all district leaders (RDC, DPC, CAO etc). RDC, whoever is arrested must not be given Police bond until they pay back. We want that money back," he directed.