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Emyooga cash has saved Ugandans from exploitative moneylenders- Minister Kasolo

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The state minister for Microfinance, Haruna Kasolo has said Ugandans who listened to government’s message and joined Emyooga program have been saved from borrowing from exploitative moneylenders.

Speaking while monitoring the program and examining the beneficiaries, Kasolo said many Ugandans have been able to benefit from the program by using their own saccos to get cheaper loans to invest in their businesses.

“Emyooga was designed to provide Ugandans with cheap and affordable capital to facilitate the growth of their businesses. This is what it is doing and saving Ugandans from loan sharks,” Kasolo said.

“For me I want to see every Ugandan engage in economic activity. We don’t have to be poor. Why should you be poor when others are not? You don’t have to be poor when Emyooga is here.”

He urged Ugandans to think about daily earnings as one way that will liberate them from poverty.

“It’s high time you started thinking of earning money every day. Please, earn money every day. You see, money should be able to grow. If you woke up today, in the morning, with shs5000 and close the day with shs4000, that means your money is not growing.  Why? Because you are not earning something to supplement what you slept with the previous day. I want to advise you people because now I’m talking to the changing agents. You are now wealth creators, please make sure you earn money every day,”Kasolo advised.

The minister also emphasised the importance of saving, noting that no man has ever become rich without saving.

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“The root cause of poverty is not a lack of money but the lack of saving habits among Ugandans. While family and friends may abandon you, your savings will always support you.”

Beneficiaries speak out

Dwo Grace, a resident of Paya Village, Paya Sub-county, Tororo District and treasurer for West Budaama East Welders Sacco, said with support from Emyooga  she ventured into welding, a business that was known for men and is now earning a lot out of it.

“I have my own  welding machine which I operate and it is giving me some good profit that I am able to  manage to pay school fees for my children and also take care of myself plus my family,” Dwo said.

“Previously,  I was just there not knowing that I would even get money to educate my children. As this presidential initiative came, my hope was raised.”

She hailed government for this great opportunity and appealed to fellow women  to join the initiative.

Amanda Josephine Omala, one of the beneficiaries hailed Minister Haruna kasolo and Microfinance Support Centre for training them saying their society is growing because women now have money.

” We used not to have money in our pockets but nowadays, we wake up early like men and go to work because we got capital. My fish business is now helping me teach a doctor in making at the university and in few years he might be the next minister,” Omala said.

Joseph Tukamushaba from the  Microfinance Support Centre noted that they will continue supporting saccos.

“Emyooga as a program is not just about the shs30 million. It is about us and how we can use local resources to changes our own lives and this has to happen from here. In our journal of transformation, we have talked about capital, and capital is not only about money, capital also need our brains.”

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https://www.ugbulletin.co.ug/emyooga-cash-has-saved-ugandans-from-exploitative-moneylenders-minister-kasolo/

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