Minister Kasolo gives Emyooga loan defaulters in Bukedea one month to repay

The State Minster for Microfinance Haruna Kyeyune Kasolo has given Emyooga loan defaulters in Bukedea district 30 days to repay their outstanding loans.

This came  after the minster found that only 5% of the disbursed funds were recovered since the inception of the programme in 2021.

Bukedea district received a total of shs550million million that went to 17 Emyooga saccos and shs483 million has so far been disbursed to 624 members according to the district commercial officer, Godfrey Otim.

Kasolo who is  camped in Teso to track the progress Emyoga said he  was disappointed with the poor recovery after learning that only shs27 million has been recovered out of the 483 million disbursed to members.

“The president directed that the beneficiaries should repay Emyooga money within 24 months to enable others borrow but now these people have overshot the time,” Kasolo said.

The Bukedea district commercial officer explained that most of the beneficiaries had diverted the funds for personal consumption other than investing in business as envisaged in the programme.

The SACCO chairpersons pleaded with the minister to give them 30 days to enable them recover the funds from their members which he granted.

“Since this is the speaker’s district and the speaker is my boss, let me give you one month” said Kasolo.

“I want this money to come back to the SACCO so that another person can come for it, and also utilizes it. It is supposed to be a revolving fund.”

Kasolo further cautioned Emyooga beneficiaries against encroaching on PDM funds saying it is criminal since the two programs target different categories of people.

“What disturbs me is that people that have already eaten money for Emyooga are already paraded for PDM. RDC, those people should be arrested”

The minister will continue with his tour of the sub region to sensitize the community on the benefits of saving and mindset change.

Emyoga programme is a poverty eradication intervention targeting 19 categories of beneficiaries involved in various enterprises including boda boda riders, market vendors, carpenters, performing artists, salon operators, tailors among others.

 

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