Govt Releases Emyooga Funds To 660 SACCOS

Govt Releases Emyooga Funds To 660 SACCOS

The Microfinance support has released sh20b to 660constituency-based Emyooga SACCOS that have so far been verified and cleared according to the Minister of State for Microfinance, Haruna Kasolo Kyeyune.

Kyeyune was yesterday updating the country on the implementation of Emyooga funds at the Media Centre.

The Emyooga programme was launched by President Museveni in August and it currently operates in the districts of Budaka, Bukwo, Kapchorwa, Kitgumu, Kiboga, Busia, Alebtong, Kaberamaido, Kalaki, Iganga, Bukomasimbi, Serere and Bukedea.

The Minister revealed that there are currently 146 districts and 353 constituencies in Uganda and each emyooga will receive Sh30m apart from Kampala and Wakiso districts which will receive Sh560m to be distributed in the 17 constituents due to the nature of businesses and people in the region.

Kyeyune noted that so far, a total of 190,710 emyooga parish-based associations have been mobilised across the country with 70, 133 of them already validated.

Validation is aimed at assessing actual existence, legal status and leadership structures of the groups to minimise the risk of funding non-existing and ghost groups.

According to Kyeyune the number of registered associations is set to increase since many of them are in advanced stages of the registration process and are in line to be funded by the Microfinance Support Centre by the end of the year.