Museveni Delivers Financial Boost to Kampala Ghetto SACCOs

President Yoweri Kaguta Museveni has fulfilled his promise to provide financial support to ghetto Savings and Credit Cooperative Organizations (SACCOs) in Kampala City. The move is part of a government initiative to uplift ghetto communities and empower youth economically.

The beneficiaries include;

1. Kawempe Kikankane Bamwoyo Gwagwanga and Development Cooperative Society Ltd, which received Shs1.3 billion.
2. Katanga Young People Cooperative Society, which received Shs500 million.
3. KCCA Councillors Economic Agenda SACCO, which received Shs500 million.
4. Nakulabye Jambo Associates Cooperative Society Ltd, which received Shs500 million.

During a meeting at State House, Entebbe, President Museveni reaffirmed his longstanding connection with ghetto communities and their role in Uganda’s liberation struggle. “I linked up with the ghetto in 1968. Katwe is my place. I was not a ghetto boy myself, my background is in the villages with farmers but we, the student movement, wanted to connect with the ‘Bawejjere’ (grassroot youth). The head of the Bawejjere at the time was Abbas Kibazo, whom they called ‘Ssabawejjere,’ and I linked up with them. So, this idea that I am just now engaging with the ghetto is not true,” he said.

Maj. Emmanuel Kuteesa, the coordinator of the ghetto youth initiative, explained that the funds are revolving in nature and designed to empower youth economically. “These groups have undergone mindset change and ideological training, equipping them with the skills to manage their businesses sustainably,” he noted.

Kuteesa added that the revolving fund allows beneficiaries to borrow, invest in small businesses, and repay the money, ensuring ongoing financial support. “This initiative is a way of pulling youth out of criminality, drug abuse, and other negative influences by providing them with a sustainable source of income,” he said.

State House Comptroller Jane Barekye also attended the meeting, which underscored the government’s commitment to enhancing the economic well-being of Kampala’s ghetto communities.