Over 25 Emyooga Savings and Credit Cooperative Organizations (SACCOs) in Kigezi Sub-region are set to be registered as permanent cooperative Organizations.
The Manager Micro Finance Support Center Kigezi Region, Mr. Boaz Tuhumwire, made the revelation on Tuesday at White Horse Inn in Kabale municipality while in a training of the leaders of the SACCOs that are about to be registered permanent.
Tuhumwire says government disbursed Ugx 6.4 billion in 2020 in all the SACCOs of Kigezi Sub-region and they have now grown to Ugx 11.3 billion.He added that recovery is now at Ugx 5.3 Billion and by the end of 2022, the share capital is expected to rise to Ugx 14 billion.
The Resident District Commissioner for Kabale district, Mr. Godfrey Nyakahuma appreciated the government for starting the Emyooga program noting that it has helped many people to change their mindset towards improving their livelihoods.
Ms. Rachael Kobugabe, the Micro Finance Support Center Senior Institutional development officer in charge of capacity building for Emyooga said that government is working with the leaders of other SACCOs in Kigezi Sub-region to ensure that they also get elevated to become permanent organizations.
According to Ms. Kobugabe, the other SACCOs will continue to be assisted to become permanent as well as getting license from The Uganda Microfinance Regulatory Authority (UMRA).
The sub region has at least 270 Emyooga SACCOs with membership of 6,934 and are estimated to create about 74,234 jobs by end of this year.
