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Kasolo said it is high time Ugandans embraced the saving culture but noted salary earners ought to think outside the box.
“Try as much as you can to start a daily income-generating activity. Salary is useless. That is why it is withdrawn the moment it hits the account. Use your salary to start a daily income-generating activity. Even if you get shs100 million a month, you will mortgage it. You will use it to service loans you borrowed before you received your salary. And you will be in that cycle forever,” Kasolo said.
He advised people to use their salary to start up businesses. According to him if one must get a loan, that loan should be able to make money the next day.
“But there are those workers who even don’t mind about salary. They have other activities. Use part of your salary to start a business. Don’t go for loans. Some of you go for a short-term loan, then put it in a long-term investment. Get a loan and start a business that will bring you money the following day.”
The Minister further emphasized the idea of saving. He challenged the people to always save first before spending. He says saving can enable people to get cheap credit from Emyooga SACCOs and avoid the banks and moneylenders.
“You will get capital from savings and credit from Emyooga. You don’t require a lot of money to start a business. I am Minister for Microfinance but if you find me home, you cannot believe I am Minister. I am a farmer, I have people to fry chapati, I am in bodaboda business, I am in taxi business, I am in poultry business, but for you, you have that pride; you say I cannot fry chapati.”
Check Also;
- Don’t Let Politicians Confuse You About Emyooga; Minister Kasolo
- Minister Haruna Kasolo; If You Don’t Want To Become Rich, Leave Uganda
- Uganda Microfinance Regulatory Authority Warns Public Against Illegal Money Lenders
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![[dropcap]A[/dropcap] section of women in Bugongo parish and Nawangaiza parish in Nawandala Sub County, Iganga District have decried the near-impossible terms set for them to access GROW funds. They have now petitioned their woman member of parliament for Iganga Hon. Kauma Sauda Alibaawo to ask the government for revised terms and conditions. This is to enable them to benefit from the program. The disgruntled women accuse the implementers of the program of charging the money. They are also asking for their land titles and land agreements. They said that such properties are governed by their husbands. These, therefore want the government through their woman MP to intervene and revise the requirements for one to benefit. The women were on Wednesday at Namabwere primary school in Nawandala Sub County. They had gathered in their respective groups to receive over 300 chickens from Hon Alibaawo in her campaign to improve the livelihood of women in Iganga district. Each group was given 50 chicken as start-up capital in their journey to prosperity. Read what some leaders said; Ms Naigambi Lydia from Nawandala Trading Centre says, “They solicited money from us through opening bank accounts and depositing Shs80,000. They also asked for land titles and land agreements from us yet we don’t have such things. I was informed that I needed to have a business with a capital of Shs4m yet my capital was very small.” The chairperson Kisoboka Saving Group in Nawandala Ms. Nakagolo Faith said they were not able to join the program. This is given the many conditions attached. She also asked their woman MP to raise their concerns to the relevant offices. The MP condemned the mode of implementation of the program. She cited that it has turned to benefit the well-off class of women other than the intended group. She further asked the government to intervene saying the current strings attached to the programme are very tight to accommodate a common woman. GROW project is a Government of Uganda initiative that arose out of the need to respond to the needs of women entrepreneurs. This is especially those who want to grow their businesses, sustain their self-employment and create more jobs. Check Also; Iganga District NRM Leaders Urge Museveni To Fulfill Election Promises Of 2021 International Women's Day: Celebrating Progress Towards Equality](https://i0.wp.com/newslexpoint.com/wp-content/uploads/2024/11/Iganga-women-decry-tough-terms-to-access-GROW-funds-e1731738339732.jpg?resize=300%2C160&ssl=1)
