Emyooga saccos help bridge import substitution gap
The second National Microfinance and Savings group conference 2024 is underway in Kampala under the theme leveraging collaborations, partnerships and promoting savings to foster social transformation.
Inline with the presidential ambition of driving the 68% of homesteads from subsistence to money economy under Job and wealth Creation (Emyooga) many saccos have taken the oath of adding value to locally produced raw materials to make finished products hence realizing import substitution.
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The emyooga Saccos who exhibited different products that depicted a journey of realizing import substitution and hence enabled them change livelihoods.
Murungi Monicah Emyooga, a beneficiary attached to Kyakaigo Restaurant Emyooga Sacco said the program has truly uplifted them from poverty.
" We have developed a good saving culture, we are now financially literate and know what to do now, " Murungi emphasized.
This developed muscle has equally enabled emyooga beneficiaries to support their family members and cottage industry development.
" We have intensified investment in development of products such as Jepa wine, black seed oil, jepa skin care,jepa castor oil, hibiscus juice, liquid soap, art and craft among others, " Joan Bainomugisha, the chairperson of the sacco says.
Linnet Katushabe, the secretary of Erute South Women Entrepreneurs Emyooga Sacco in Lira who have ventured in production of smearing oil, Shea butter oil and tamarind porridge said their lives have changed for better, courtesy of Emyooga funds.
"Our businesses has grown from smaller to bigger. We have since used Emyooga funds to buying value addition machines for our sacco such as mixing machines and drying machines. It has helped in our value Addition endeavors, " Katushabe added.
Zaituni Amuge , 60 and a member of Bukedea County women entrepreneurs emyooga Sacco zeroed at adding value to maize hence reducing post harvest losses.
" We have been buying from other farmers but what we intend is to initiative mass production by farmers in the associations of the sacco, so that we are able to manage large scale production through training on agronomical practices, post harvest handling and helping production organically," she hopped.
Once production is enhanced, they hope to buy their own multi tonnage maize and cereal miller targeting community, institutions, regional and international markets where food demands are crucial.
These fruits, are inline with the Microfinance Support Centre Ltd (MSC), that has since taken the initiative to provide requisite training and guidance to Emyooga SACCOs in order to encourage value addition.
"A primary focus for the upcoming year is to assist Emyooga beneficiaries engaged in value addition to obtain certification from the Uganda National Bureau of Standards (UNBS) and subsequently facilitate the sale of their products in the mainstream market," Phiona Muhebwa, Emyooga Programs Officer-Communications revealed.
MSC is collaborating closely with UNBS, the Uganda Registration Services Bureau (URSB), and the Uganda Revenue Authority (URA) to conduct awareness sessions aimed at preparing and educating beneficiaries on the certification process, business registration requirements, and tax responsibilities.
MSC has recently introduced a peer-to-peer learning program involving exchange visits and networking among Emyooga Saccos.
The reports received indicate that this initiative has been highly beneficial, with participating SACCOs showing notable improvement in performance and skills related to value addition.
"As demonstrated in the ongoing exhibition at the second microfinance and savings groups conference at Hotel Africana, we anticipate that SACCOs will utilize this platform to share knowledge and best practices with one another, particularly in the areas of product packaging and marketing, to foster continuous improvement and growth, " she concluded.
