As part of the initiatives to have economic statuses of citizens boosted, the government introduced the Emyooga program to support among others, market vendors, welders, taxi drivers, carpenters, boda-boda riders, women, performing artists, and restaurant owners among others who come together in form of savings and credit co-operative societies.
In 2020/21, the government released 30 Million Shillings to each of the 18 Emyooga Savings and Credit Cooperative Societies selected per constituency across the country.
However, for any Emyooga SACCO to access the government cash and members’ savings on their bank accounts, the Executive Committee had to seek a recommendation letter from the district commercial officer who determines how much they can withdraw.
Meanwhile, the government has decided to have conditions that require Emyooga Savings and Credit Cooperative Societies to seek recommendations from district commercial officers before they access money on their bank accounts relaxed.
State Minister for Microfinance Haruna Kyeyune Kasolo says that following complaints from the Emyooga SACCO leaders, he has decided to withdraw the requirement with immediate effect.
He has since ordered all district commercial officers to write to bank managers informing them of the new development and that Executive committees can withdraw the money as they wish without necessarily presenting a recommendation letter from their offices.
Kasolo added that the commercial officers will only be required to monitor the performance of the SACCOs.
“However, government agencies will arrest Executive committee members in case they misuse the authority and embezzle the funds,” he said.
The SACCOs are also required to submit monthly reports to Resident District Commissioners, Chief Administrative Officers, and local leaders on their performances.
