EMYOOGA SACCO’S TO RECEIVE ADDITIONAL 20 MILLION SHS

Minister for state for Finance, Planning and Economic Development Haji Haruna Kasolo has reviled that all excelling Emyooga Sacco’s will receive additional 20 million Uganda shillings

Haji Haruna Kasolo has expressed this during his monitoring visit about the progress of the Emyooga Sacco’s in Mubende district

Haji Haruna Kasolo held three meeting with district leaders, sub county leaders and Emyooga Sacco’s members at Madudu sub county headquarters , Kyenda town council head quarters and Kasambya sub county head quarters in Buwekula north constituency, Buwekula south constituency and Kasambya county respectively in Mubende district.

Minister Kasolo explained that” he has received a presidential directive to give out additional funds to the Emyooga Sacco’s that have successful managed to run their activities as per the guidelines provided under this program.”

Minister Kasoolo noted that;” Emyooga Sacco’s program runs on the principal of saving, borrowing and returning of the received funds so that other members are able to utilize the funds. Research has been carried out that there are only two avenues of getting rich, one is saving while the other is borrowing. As Ugandans we need to embrace the saving and borrowing culture if we want transform our lives for the better.”

Minister Kasolo therefore encouraged the Emyooga Sacco’s members in Mubende district to increase on their saving culture as well as borrow from their initial seed capital of 30 million Uganda shillings so that they can be able qualify or the additional funds

Minister Kasolo further appealed to the Resident district Commissioner (RDC) to closely monitor all the Emyooga Sacco’s and come up with a list of the groups have been performing well and are eligible for the additional funds

Mubende district has a total of 46 Emyooga Sacco’s and received 1.44 billion Uganda shillings.