• Latest
Emyooga Savings hit Shs40 billion Mark in one Year

Emyooga Savings hit Shs40 billion Mark in one Year

1 year ago
UPDF Ready to Deploy Troops to Goma as Part of Regional Force

NTV Journalist Edward Muhumuza Dies in Car Accident

6 days ago
UPDF Ready to Deploy Troops to Goma as Part of Regional Force

UPDF Ready to Deploy Troops to Goma as Part of Regional Force

6 days ago
Uganda Airlines to Start Flights to Rwanda

Uganda Airlines to Start Flights to Rwanda

6 days ago
We are Following in Oulanyah’s Footsteps- Speaker Among

We are Following in Oulanyah’s Footsteps- Speaker Among

7 days ago
Allan ‘Kutos’ Katongole: From Michael Ross’ Shadow to Sanyu TV Series Star

Allan ‘Kutos’ Katongole: From Michael Ross’ Shadow to Sanyu TV Series Star

7 days ago
Tshisekedi Appoints ex-VP Jean-Pierre Bemba as Deputy Prime Minister

Tshisekedi Appoints ex-VP Jean-Pierre Bemba as Deputy Prime Minister

7 days ago
SoftPower News
Friday, March 31, 2023
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home News

Emyooga Savings hit Shs40 billion Mark in one Year

Beneficiaries of the Presidential Initiative on Wealth and Job Creation (Emyooga) have mobilized over sh40 billion in savings over the past year.

by Muhamadi Byemboijana
December 1, 2021
Emyooga Savings hit Shs40 billion Mark in one Year

Members of a Youth Sacco

Beneficiaries of the Presidential Initiative on Wealth and Job Creation (Emyooga) have mobilized over sh40 billion in savings over the past year.

One of the key prerequisites for any member to borrow from an Emyooga SACCO is regular and consistent saving. Going by the available statistics from the Microfinance Support Centre on savings across the board, a culture of saving is steadily taking root among the population as the Emyooga programme takes root across the country.

Related Stories

NTV Journalist Edward Muhumuza Dies in Car Accident

UPDF Ready to Deploy Troops to Goma as Part of Regional Force

Uganda Airlines to Start Flights to Rwanda

The Microfinance Support Centre – the lead implementing Government agency for Emyooga – has on its part prioritized mindset change during the pre-disbursement training as well as monitoring and capacity building activities. This, to instil a culture of saving among the population to enable them fully benefit from the program.

Saving was a key message that the Minister of State for Finance Planning and Economic Development in charge of Microfinance, Hajj Haruna Kasolo Kyeyune shared during the ongoing monitoring tour to assess the progress of the Emyooga program in greater Masaka.

He cautioned beneficiaries no desist from lending to irregular members, even when they raise the required amounts. This he says shall boost SACCO savings, benefit the right people, as well as safeguard the fund to attain its intended purpose.

Minister Kasolo describes Emyooga as a great avenue to cheap credit for all Ugandans organized in the different enterprise categories.

He says Emyooga is part of the bigger government strategy to relieve the country of the growing debt burden. This, through transforming communities from subsistence to commercial production which in turn, progressively, widens the local tax base.

To date, The Microfinance Support Centre has disbursed 231 Billion Shillings to 6591 Emyooga SACCOs countrywide. 6396 of the SACCOs have received their certificates of registration from the Ministry of Trade, while the remaining few are under process, with support from the Microfinance Support Centre.

In the two constituencies of Masaka City, 900 million shillings was disbursed to 133 SACCOs, directly benefiting 1572 individuals. These have been able to save up to 340 million shillings, given loans worth 773,616,000 shillings to SACCO members and have so far recovered 374,667,000 shillings. URN

Tags: EmyoogaHaruna KasooloSACCOsSoftPower NewsTop NewsUganda

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Stories

NTV Journalist Edward Muhumuza Dies in Car Accident

UPDF Ready to Deploy Troops to Goma as Part of Regional Force

Uganda Airlines to Start Flights to Rwanda

We are Following in Oulanyah’s Footsteps- Speaker Among

Allan ‘Kutos’ Katongole: From Michael Ross’ Shadow to Sanyu TV Series Star

Tshisekedi Appoints ex-VP Jean-Pierre Bemba as Deputy Prime Minister

SoftPower News

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News