Each constituency to get over Shs560m as Govt eases access to wealth creation funds

Government as part of its commitment to improving the welfare of its youth has moved wealth creation funds from district level to constituencies and each is going to get at least Shs560 million, said Judith Nabakooba, the minister of ICT and National Guidance on Sunday.

“Last week, Cabinet approved the administration of [Emyooga or wealth creation funds] to be taken closer to the people,” the minister said in a Sunday briefing. “Previously Emyooga funds have been managed at the district level. Going forward, they will now be managed at parish and constituency level.”

According to Minister Nabakooba, each constituency will receive up to Shs560 million for development purposes.

Emyooga is the latest Presidential Initiative on Wealth and Job Creation.

The 100-billion project, which is being implemented by different government agencies, will see groups of people get up to Shs30 million in grants to finance their projects.

The implementors are the office of the president, the ministry of finance, planning and economic development, the Microfinance Support Centre (MSC), district local governments and YASPED (Youth Action for Social Political and Economic Development).

Through Emyooga, the government will dole out funds to 18 categories of associations, namely: Boda Bodas, women entrepreneurs, welders, taxi operators, fishermen, restaurant operators, mechanics, veterans and produce dealers.

Others are market vendors, tailors, Persons with disabilities (PWD’s), youth leaders, salons, performing artists, journalists and elected leaders.

The overarching goal of the initiative is to convert 68% of the country’s homesteads that are currently involved in subsistence production to market-oriented activities.

That being said, the minister advised target groups to acquire the necessary documents in order to benefit from the project.

“I, therefore, call upon everyone to reach out to your parish chief or community development officer for information on how you can access these funds,” she said. “Let us get organized in our SACCOs and ensure that no one is left behind in the government’s wealth creation efforts.”