The Presidential initiative is targeting various enterprises including SACCO’s for Bodabodas, women entrepreneurs, salon operators, taxi operators, welders, restaurant owners, market vendors, mechanics, produce dealers, persons with disabilities, youth leaders, fishermen, tailors and journalists among others.
According to Kasolo, the initiative is part of the broader NRM principle of socio-economic transformation in which the government is committed to converting 68% of the Country’s population from subsistence to market-oriented production.
This initiative is expected to promote job creation and also improve household incomes.
The SACCO’s for each category will be organised at the district level but with operations at the parish level.
Membership to the SACCO shall be limited to a minimum of 30 members and more.
The Micro-finance State Minister urged leaders across the country to supervise the SACCO’s and also ensure that they invest wisely.
SACCO’s can access initial funds to the tune of UGX30 million.
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