Mininster Haruna Kasolo Kyeyune who is the state minister for microfinance together with Uganda Microfinance Regulatory Authority (UMRA) yesterday met the Buganda Officials led by the Katikiro Charles Peter Mayiga to discuss on how to implement the Emyooga program in Buganda Kingdom.
The Emyooga is a Runyankole word which means people working together in the same business and this program was launched last year enable Ugandans in the informal sector boost their household incomes by growing their small businesses through saving in saccos and borrowing at a small interest rate.
The program is implemented by the Uganda Microfinance Support Centre.
On Tuesday, Minister Kasolo led officials from the Microfinance Support Centre and Uganda Microfinance Regulatory Authority (UMRA) to meet officials from Buganda government led by the Katikkiro, Charles Peter Mayiga.
“I have found a hard time for mobilizing people to join Emyooga program .Many didn’t appreciate it thinking it was a political tool yet it is aimed at alleviating poverty,”Kasolo said.
“People can’t get rich while getting handouts from government but rather saving and investing. Emyooga is being talked about by many but well as it came during campaign time, it was not political but that was the time it was meant to be implemented.”
According to the minister, by partnering with Buganda kingdom, government wants to ensure successful implementation of the program by using its structures to reach out to the population.
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“The program is aimed at ensuring financial inclusion and will record more success if we partner with institutions like Buganda.” Minister Kasolo added
According to John Peter Mujuni, the Executive Director of the Microfinance Support Centre, the partnership would go a long way in monitoring the program in Buganda using the Mengo government structures.
“When the saccos get the shs30 million seed capital, we expect them to use it very well .Your leadership can help us in ensuring people use the money for the right purpose.”Mujuni said.
According to Mr. Mujuni, the Microfinance Support Centre can establish a special desk for Buganda to handle issues related to Emyooga program and lend money to saccos at the lowest rates in the country, a service he said can be tapped into using the Buganda government structures.
Buganda Katikkiro, Charles Peter Mayiga welcomed the idea of partnership but warned the population against politicking issues to do with development.