Local leaders and village chairpersons have been warned over wasting seed money under the presidential initiative debut EMYOOGA.
This was revealed on Wednesday at the Entebbe Division ‘B’ Local Leaders’ Saving & Credit Cooperative annual general meeting and certificate handover ceremony at the Kitooro LC1 offices.
The SACCO top executive under Ms Harriet Nantalima were handed their certificate of operation to access the presidential fund under the EMYOOGA initiative.
“The money has a presidential composition to wealth creation and it’s seed money to benefit local leaders from different associations and SACCOs” said Paul Kimuli.
“Five hundred and sixty million shillings (shs560M) has been ear marked under presidential initative to benefit local leaders registered under 18 SACCOs”, added Mr Kimuli.
Paul Kimuli also community development officer advised members not to misuse the presidential fund and more there is need for transparency in the organisation.
Members were advised to invest wisely and make dividends to be “loaned” out to other SACCO members at lower interest, advised Kimuli.
“Members to acquire loans at a 8% interest and put to good use following the top executive recommendation”, said Nantalima.
The local leaders SACCO was handed a certificate of operation under the leadership of Harriet Nantalima (Chairperson) plus other including Musanje Hamida (Vice chairperson), Betty Nkata (Treasurer), Kadodi Caroline (Secretary), Mrs Nyakaana.
Nantalima thanked the president for bailing-out local leaders during the hardest times of the pandemic and to create their own jobs.
“Members thought that the top executive had hoodwinked them since it was during the campaign trail and members had lost hope”, said Mrs. Nyakaana.
In related development three members of parliament including Wakiso woman Member of Parliament Ethel Naluyima, Entebbe MP Micheal Kakembo Mbwatekamwa and Nansana Mp Wakaimah Musoke had a 2days’ visit to different SACCO groups to follow up the presidential fund under EMYOOGA drive.
Members of parliament visited several SACCOs including the Entebbe Division ‘B’ Tailors’ EMYOOGA SACCO under the leadership of Nanteza Moureen plus several others.
(Report By ROBERT PEACOCK)
