Government through Emyooga, one of presidential initiatives on Wealth and Job creation – has doled out Shs100.4 billion to 3,459 SACCOs in 209 constituencies and 91 districts.
The figure was released by the Microfinance Support Centre Ltd, the implementing agency, on December 23.
The funds were released to SACCOs that were trained in operating businesses and fund management, registered and certified by the Registrar of Cooperatives.
“The seed capital is aimed at boosting the enterprises and incomes of the members,” officials said.
The implementors of this project 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 sought to support 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.