The State Minister for Microfinance, Mr Haruna Kyeyune Kasolo, has urged communities to shift their focus from soliciting small donations to enhancing saving campaigns.
Minister Kasolo's call aims to help raise capital, create jobs, and generate wealth is in line with President Museveni's vision of transitioning 68 percent of the population from subsistence farming to a monetized economy.
During a recent monitoring exercise for the Emyooga program in West Budama South Constituency, Tororo District, Minister Kasolo highlighted the impressive performance of several Emyooga Savings and Credit Cooperative Organizations (SACCOs).
He commended their achievements and emphasized the importance of local politicians supporting these initiatives.
"I'm happy to support your efforts to recover the money, as I'm doing your job. I want to encourage other members to follow suit. I'm pleased with the exhibits you've organized and the good success stories you've shared," Kasolo said.
He stressed the importance of politicians appreciating the program and understanding its beneficiaries to better support and monitor the projects in their regions.
Addressing the issue of loan defaulters, Minister Kasolo did not mince words.
"Instead of appreciating what I'm suggesting, I'll take action on your behalf. I've instructed the commercial officer to begin our move using radios within 10 days," he said.
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Despite the positive outcomes of the Emyooga SACCOs, members voiced concerns over limited capital, which hampers their journey to financial independence.
In response, Kasolo announced, "Regarding additional funding, the 20 million shall be disbursed with immediate effect to all SACCOs.
But it is upon the RDCs to verify the authentic SACCOs to receive the funds."
However, he also warned SACCO leaders and members who misuse funds. He urged them to act responsibly, ensuring that the revolving funds benefit the entire community.
"I don't want you to bother them for small donations, as they don't have the means to give to you. Never ask a leader for money. It's unrealistic to expect them to provide for everyone," he said.
Kasolo's message is clear: communities should focus on building financial independence through savings and responsible management of resources, rather than relying on small donations from politicians.
His remarks underscore the government's commitment to empowering citizens and fostering sustainable economic development through grassroots financial initiatives.
