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Tag Archives: SACCOs

Shs100 million PDM cash earmarked for parishes

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance, Planning and Economic Development (Planning) Amos Lugoloobi, has revealed that some parishes will in the Financial Year 2022/2023, receive more money than others under the Parish Development Model (PDM). The minister made the revelation while presenting a statement to the …

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Arua district struggling to recover UGX 12Bn Emyooga funds

Arua, Uganda | THE INDEPENDENT | Several Emyooga SACCOs in the West Nile region are struggling to recover the funds they disbursed. From 2019 to date, the government-funded 455 Emyooga SACCOs in West Nile through the Microfinance Support Center. Eighteen enterprises per constituency namely, taxi operators, fishermen, journalists, veterans, boda bodas, women …

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Savings groups decry multiple microfinance regulations

Bushenyi, Uganda | THE INDEPENDENT | Savings and Cooperative organizations have expressed concern over multiple regulations. The savings and cooperative Organizations currently are regulated by the registrar of Cooperatives, Uganda Microfinance Regulatory Authority, and Bank of Uganda. Speaking at the International Cooperative Day in Sheema Municipality on Saturday, John Njoki …

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Ministers order audit of Arua city Parish Development Model funds

Arua, Uganda | THE INDEPENDENT | Ministers from the West Nile region have ordered an audit into the Arua City Parish Development Model (PDM) funds over alleged irregularities. They accuse the city officials among others of irregularly forming PDM groups and disbursing money to unregistered SACCOs which is contrary to the …

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Gov’t to extend additional funding to successful Emyooga groups

Kasese, Uganda | THE INDEPENDENT | The government will in the next financial year give an extra 20 million shillings to excelling Emyooga groups and Savings and Credit Cooperative Organizations-Saccos across the country. These additional funds are meant to boost the seed capital for the beneficiaries. Meeting district leaders in Kasese …

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Committee resolves to pay KCCA casual workers

Kampala, Uganda | THE INDEPENDENT | A special committee established to audit operations of casual workers in Kampala has resolved to pay city cleaners who continued to work after the expiry of their contracts. More than 3,000 cleaners from the five divisions worked under SACCOS contracted by Kampala Capital City Authority-KCCA …

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Stanbic goes for SACCOs, young clients

The lender recorded 11% growth in net profits to Shs269bn in 2021 Kampala, Uganda | ISAAC KHISA | Stanbic Uganda Holdings Ltd, a mother company for Stanbic Bank – one of the country’s oldest banks, which for nearly two decades served corporate clients, is now trying to remodel. The country’s …

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Emyooga defaulters face arrest

Kampala, Uganda | THE INDEPENDENT | Groups and Savings and Credit Cooperative Organisations, SACCOs that have utilized funds under the Emyooga program, will be rewarded with another 20 Million Shillings as seed capital. This is aimed at encouraging good practices among beneficiaries of the presidential wealth creation program launched in 2019 to …

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Minister gives Buvuma leaders two weeks ultimatum to return Emyooga funds

Buvuma, Uganda | THE INDEPENDENT | The State Minister for Micro-Finance, Haruna Kyeyune Kasolo has given Buvuma district officials a two-week ultimatum to return the money they borrowed from various Savings and Credit Cooperative Societies-SACCOs under the Emyooga program. According to information obtained by URN, 16 Saccos in Buvuma district received …

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