President Museveni has fulfilled his financial pledge to support economic empowerment initiatives targeting Muslim Women SACCOs and ghetto SACCOs in the Busoga Sub-region.
A total of Shs 3.2 billion has been disbursed, with Shs 2 billion allocated to Muslim Women SACCOs across the country, and Shs 1.2 billion directed to ghetto SACCOs in the 12 districts and the city within the Busoga Sub-region.
The funds were officially handed over to the beneficiaries on behalf of the President by the State House Comptroller, Ms. Jane Barekye, during a ceremony held at Okello House in Nakasero, Kampala.
Ms. Barekye emphasized that the funds are not a personal donation from President Museveni, but government support aimed at empowering the groups economically.
She clarified that for the ghetto SACCOs, members can borrow and invest the funds, which must be paid back after one year with a 6 percent annual interest. For the Muslim Women SACCOs, a service fee of 6 percent per annum will be charged instead.
She warned that anyone who misuses the funds will face arrest and imprisonment, reinforcing that the support must be used strictly according to the President's directive.
The event was also attended by the Special Presidential Assistant on Press and Mobilization, Haji Faruk Kirunda, who also serves as the national coordinator for both the ghetto SACCOs in Busoga and the Muslim Women SACCOs.
On the directive of the President, Haji Kirunda and Maj. Gen. Christopher Ddamulira, Director of Crime Intelligence, have been tasked with coordinating the ghetto SACCO activities in the Busoga region.
Haji Kirunda cautioned the beneficiaries against misusing the funds, stressing that the financial support is not for political campaigns or elections but is meant to uplift their livelihoods.
He reminded them that the funding came in response to proposals submitted earlier and is now being fulfilled by the government.
He further noted that his office will establish a system to monitor the use of the funds in order to measure their impact.
He emphasized that annual audits will be conducted, as directed by the president, to assess how the funds are being managed.
He also reiterated that the interest rate must remain at six percent, and no one is permitted to alter it except the president himself.
The National Chairperson of the Uganda Muslim Women Council, Hajjat Sofia Kenyangi, expressed her gratitude to President Museveni for fulfilling his promise to the Muslim women.
She praised the government’s commitment to empowering women economically and encouraged the beneficiaries to use the funds wisely.
This initiative is part of the government’s broader efforts to promote inclusive economic development and improve livelihoods, particularly among marginalized communities in Uganda.
