Gov’t Rolls Out Another Initiative For Wealth Creation
The Government has rolled out another initiative in parishes targeting specialized groups in a move aimed at job creation and improving household incomes.
In the Presidential Initiative on wealth Creation and job creation locally referred as Emyooga, each Savings and Credit Cooperative Organization (SACCO) will be given 30 million shillings as seed capital to boast savings of members.
On Wednesday, the State Minister of Microfinance Haruna Kasolo launched the initiative in Greater Luweero districts at Bukenya Foundation Hall in Luweero town.
Kasolo said that each district was to receive 570 million shillings to support the SACCOs.
Kasolo says that the initiative targets SACCOs formed in 18 categories that include Boda Boda cyclists, Women Enterprises, Carpenters, tailors, mechanics, performing artists and fishermen among other groups.
Kasolo says that unlike other initiatives, this is likely to succeed because it targets in specialized fields and only needs capital to boost their incomes.
This is latest Presidential initiative in fight against poverty. Other initiatives include special fund for Parish Community Association, Prosperity for All, Operation Wealth Creation, Youth, Elders, Persons Living with Disabilities and Women among others.