Gulu, Uganda – On January 30, 2024, during a joint radio talk show on radio Rupiny 95.7fm, Gulu’s Deputy Resident District Commissioner (DRDC), Mr. Cosmas James Okidi, warned that persons who have defaulted on their Emyooga project loans since its launch in 2019 may face arrest.
According to the DRDC, the Emyooga project, a Presidential initiative to create wealth and jobs, aims to provide seed capital to financially excluded Ugandans involved in certain and related specialized enterprises or categories.
Gulu District, which includes the ASWA constituency, has organized a total of 18 Savings and Credit Cooperative Societies. The district received a total of shs600,000,000, which included shs560,000,000 and an extra shs40,000,000 in initial funding. This money has already been distributed to 1,132 people.
Mr. Okidi announced plans to meet with the SACCOs’ top executives to discuss tactics for dealing with beneficiaries who refuse to repay their loans. Furthermore, he stated that some SACCOs have not held their Annual General Meetings, which are required for funding recipients. He urged concerned organizations to hold these meetings as soon as possible, adding that any delays could prevent their documentation from being submitted to the Microfinance Support Center for additional seed fund release.
While emphasizing success stories such as increased saving culture, improved meetings, and better financial management, Mr. Okidi also recognized the creation of job prospects and improved well-being among recipients. He thanked President Ladit YKM and the Commander of the Armed Forces for their dedication to reducing unemployment in the country. Mr. Okidi urged Ugandans to embrace and support the well-intentioned Emyooga program, underlining its obvious goal of creating wealth and jobs in the country.