The first phase of the government’s Emyooga financial inclusion programme has officially concluded, with stakeholders reporting notable gains in wealth creation, employment and value addition across the country.
The closure event, organised by the Microfinance Support Centre, brought together representatives of Emyooga SACCOs from different regions, who showcased achievements recorded since the programme’s rollout.
Beneficiaries said the initiative has improved access to affordable credit, strengthened household incomes and enabled the expansion of small and medium enterprises.
Arinaitwe Ritah, a team lead among Emyooga beneficiaries, said the programme has gone beyond financing to formalising businesses.
She noted that Emyooga has enabled enterprises to raise capital and register legally with relevant standards bodies, a move she said positions them for long-term growth.
The Microfinance Support Centre said the programme has contributed significantly to job creation and financial inclusion, particularly among informal sector workers organised under community-based SACCOs.
Its Executive Director, John Peter Mujuni, said many SACCOs that initially struggled have now stabilised.
He explained that several have matured to a level where they can sustain themselves and continue growing steadily even beyond the initial funding.
While officiating at the event, Speaker of Parliament Anita Annet Among commended Emyooga for its positive impact on livelihoods nationwide.
She praised the programme for supporting job creation, promoting value addition and deliberately empowering women as central drivers of socio-economic transformation.
Among said the products exhibited by beneficiaries reflected the kind of local value addition Parliament has been advocating for.
The Speaker reaffirmed Parliament’s commitment to continued funding of Emyooga but cautioned beneficiaries to honour their loan repayment obligations.
She stressed that timely repayment is critical to sustaining the revolving fund and extending financial support to more Ugandans across different sectors.
The Microfinance Support Centre also announced that Phase Two of the Emyooga Programme is expected to commence later this year.
The next phase will focus on strengthening SACCO governance, improving financial literacy among beneficiaries, and enhancing monitoring and accountability mechanisms to ensure long-term sustainability.