Residents of Bunyoro Sub-region have been advised to develop a saving culture so they can eradicate poverty from their homes.
Microfinance State Minister, Mr Haruna Kyeyune Kasolo, gave the advice today while launching the presidential cluster initiative on wealth and job creation popularly known as ‘Emyooga’ at the Municipal Mayor’s Gardens in Masindi Town.
He said that government will be injecting Shs620m in each constituency.
The Emyooga initiative targets Ugandans coming together in Saccos from 18 clusters including Boda – boda riders, taxi drivers, restaurant operators, welders, market vendors, women entrepreneurs and youth leaders.
Others are people with disabilities, journalists, performing artists, veterans, fishermen and elected leaders.
The minister advised people to start saving their money to better their financial stands disclosing that the beneficiaries of the fund will have first saved their money with bank accounts.
Members will form associations of between 7 – 30 members at parish level.
Microfinance Support Centre will be the implementing agency for the programme.
Mr Kasolo advised the selected categories of beneficiaries to form Saccos so that government can wire their money on their accounts in form of a grant.
The Masindi District LC 5 Chairman, Mr Cosmas Byaruhanga, warned people against politicising the programme. He instead advised them to use the money properly to enable it transform their lives.
Speaking at the same event, the Masindi Resident District Commissioner (RDC), Mr Martin Mugabi urged parish chiefs to take centre stage in mobilising and sensitising people to form Saccos so that they can benefit from the funds.
“You should not use this money for marrying or hiding it. Convene meetings, tell the members how much money you have got and discuss how you will use it. Convene meetings periodically and evaluate yourselves. You should also take your children to school because it is only a pen that brings together the child of poor sit with the child of the rich.”