President Yoweri Kaguta Museveni yesterday fulfilled his financial pledge to the ghetto SACCOs in Kampala City.
The financial boost is part of the government’s broader effort to uplift ghetto communities through organized Savings and Credit Cooperative Organizations and enabling the youth to engage in productive economic activities.
The beneficiaries include; Kawempe Kikankane Bamwoyo Gwagwanga and Development Cooperative Society Ltd, which received Shs1.3bn , Katanga Young People Cooperative Society which received Shs500m, KCCA Councillors Economic Agenda SACCO which received Shs500m and Nakulabye Jambo Associates Cooperative Society Ltd which received Shs500m.
During the meeting held at State House, Entebbe, President Museveni reaffirmed his longstanding connection with ghetto communities, emphasizing 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,” President Museveni said.
Maj. Emmanuel Kuteesa, the coordinator of the ghetto youth initiative, explained that the funds are revolving in nature and meant to economically empower the youth.
“These groups have undergone mindset change and ideological training, equipping them with the skills to manage their businesses sustainably,” Maj. Kuteesa noted.
He further clarified that the revolving fund allows beneficiaries to borrow from their SACCOs, invest in small businesses, and repay the money, ensuring ongoing financial support for others.
“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,” Maj. Kuteesa added.
He also emphasized that these funds are an additional boost to previous government efforts aimed at improving the economic well-being of youth in Kampala’s ghetto communities.
The meeting was also attended by the State House Comptroller, Ms. Jane Barekye.
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