President Yoweri Kaguta Museveni has today handed over Shs 10.2 billion to Bodaboda SACCOs in Kampala Metropolitan Area to enable motorcyclists in Kampala, Mukono and Wakiso acquire low cost motorcycles and stop exploitation by money lenders.
The President’s donation will reach over 400,000 Bodaboda riders in the 102 Bodaboda SACCOs across the three districts in Kampala Metropolitan Area, with each SACCO receiving Shs100 million.
Handing over the funds at Kololo Independence Grounds, President Museveni directed the leadership of the SACCOs to ensure that their members acquire motorcycles at their current market price of Shs 5 million with interest not exceeding 6% per annum as an inflation control measure.
“The reason we say a profit of 6% is not really to make profits but to deal with inflation. That is why the inflation rate in Uganda is 3%, and we are proposing 6% interest,” he said.
The President also promised to issue a directive to that effect on the utilisation of those Boda boda SACCO funds.
President Museveni further tasked the SACCO members to use the Shs 10.2 billion for a new start and revival of their sector because earlier recipients of such funds misused them.
President Museveni was surprised to learn that the funds he released to Boda boda motorcyclists earlier were misused.He therefore ordered for investigations into the mismanagement.
“Whoever misuses this SACCO money, I will go after them. I also want accountability for the 2011 Boda Boda SACCO funds because I want to know what happened,” he said.
Additionally,President Museveni directed the SACCO members not to use the funds to repay debts from money lenders but rather purchase new motorcycles for their fresh start.
He also tasked Boda boda SACCO leaders to liaise with the government to expedite training and professionalization of motorcyclists to address misconduct, accidents and irregular conduct on the roads, further explaining that the government was working on the harmonization of the digital number plates program that he halted due to infiltration by some corrupt elements who had imposed high penalties on motorists.
“I also noted that the electronic number plate system was infiltrated by thieves. The penalties were excessive and unfair, but that was the work of these thieves. We shall fix it, and no one will exploit you.”
The minister for Presidency, Hon. Babirye Milly Babalanda assured the Bodaboda riders of government interventions to improve their industry and requested them to support the NRM government in the forthcoming general elections for more development.
She highlighted some of the interventions such as the reduction on cost of riding licenses/permits for motorcyclists from Shs500,000 to Shs100,000 , the elevation of road infrastructure in greater Kampala Metropolitan Area, establishment of Bodaboda Emyooga and the Shs10.2 billion that has just been injected into their 102 SACCOs.
On her part, the Minister for Kampala Capital City and Metropolitan Affairs,Hajjat Minsa Kabanda rallied Bodaboda riders to continue embracing government programs and ensure the NRM government’s continuity.
Minister Kabanda also commended President Museveni for supporting the informal sector to thrive including the Bodaboda industry.
The Minister of State for Kampala, Hon. Kabuye Kyofatogabye explained that the Bodaboda industry has significantly impacted the national economy and the government was interested in ensuring its smooth operation.
He revealed how his ministry through Kampala Capital City Authority has instituted 70 committees to guide the sector in the entire Kampala Metropolitan Area.
Mr. Frank Mawejje, the Chairperson of the Bodaboda riders in Kampala Metropolitan Area confirmed that the immense government support to their sector with the latest Shs10.2 billion will enable them acquire new motorcycles at a lesser cost and save them from the exploitative money lenders.
Mawejje noted that they are to purchase motorcycles directly from their manufacturers using direct support from the government.
Mr. Mawejje commended President Museveni through the State House Comptroller,Ms. Jane Barekye, Gen. Christopher Ddamulira and Maj Emma Kuteesa for organizing the Bodaboda industry.
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