Women business owners who support the Presidential Initiative on Wealth and Job Creation (Emyooga) call it a lifeline since it has made it simple for them to get loans with low interest rates and expand their companies.
This was brought up recently during the Emyooga exchange trips the Microfinance Support Centre coordinated. Leaders of Emyooga SACCOs from the Toro and Bunyoro regions visited SACCOs in the Lango, Acholi, and West Nile regions.
Because leaders get knowledge from people who are performing better through such trips, the visits have also been regarded as a component for the development and expansion of SACCOs. The visits allow the leaders to exchange experiences, discuss problems they are having, and come up with solutions.
The Emyooga leaders from the West Nile region visited several SACCOs in Bunyoro, including RIDO in the Kakumiro district, Bukomero Premier Investment in the Kiboga district, Butemba Constituency Saloon Operators in the Kyankwanzi district, Masindi Women Entrepreneurs SACCO, and MADFA in the Masindi district. The visit to Bunyoro featured a number of the program’s current success stories.
Hoima West Women Entrepreneurs Emyooga SACCO chair Florence Asaba thanked the government through the Microfinance Support Centre for a program that has improved the welfare of women in Hoima city and Uganda.
She claimed they received Sh30m as startup money. They were given an additional sh20m after doing well and abiding by the rules, and 146 individuals from 18 groups have benefited from it. Additionally, the SACCO has loaned members Sh138m in loans while saving Sh46m.
“My business was struggling before I joined the Emyooga SACCO because I had the funds to invest in it, but now that we have the money, things are going well. In Hoima City, I trade in fruit, poultry, and pigs. I urge other individuals to join, especially ladies who haven’t done so yet, she said.