The performance of Emyooga SACCOs has significantly improved in Obongi district due to close monitoring and supervision by the office of the Resident District Commissioner (RDC) and the West Nile region office of Emyooga programs. This was revealed during a joint monitoring of Emyooga SACCOs currently taking place in Obongi district, as stated in a press statement issued by the Obongi RDC, Hasaka Samuel Mpimbasa, on Saturday afternoon.
Obongi district received 560 million shillings from the government of Uganda for 18 groups in the district. The recovery rate stood at 0% six months ago, but with the intervention of the RDC’s office in frequent monitoring, including mobilization, and the arrest of defaulters, among other measures, the recovery rate has increased to 40%. RDC Obongi, Mr. Samuel Mpimbaza Hashaka, has assured those who embezzled Emyooga funds that they will be arrested and prosecuted if they don’t repay the money.
Hashaka thanked some of the beneficiaries of Emyooga in Obongi district for putting the money to proper use. However, he cited the Obongi Constituency Mechanics SACCO for causing socio-economic transformation. He thanked Mr. Bakole Shaban, a member of the SACCO, who borrowed a million shillings and opened a shop for selling spare parts of bicycles, paid back the loan, and now employs four people.
Mr. Bakole Shaban informed the Obongi RDC and the West Nile Microfinance Support Center, Emyooga focal person, that he now makes a daily profit of 300,000/=, greatly improving his life. He appreciated H.E the President of the Republic of Uganda for initiating such a great program that has really created wealth for many beneficiaries in West Nile and the whole country at large.
Mr. Bakole Shaban informed the Obongi Resident District Commissioner and the West Nile Microfinance Support Center, Emyooga focal person, that he now makes a daily profit of 300,000/=.
RDC Obongi Samuel Mpimbaza Hashaka, in his communication to the media, said his office and the West Nile Emyoga Zonal focal person, Ofoyomungu Jerry, have started monitoring the performance of Emyooga in all the different groups under several enterprises in Obongi district.
The first SACCO visited on Saturday morning was the “Obongi Constituency Mechanics Emyoga SACCO” with offices in Obongi town council. The SACCO received 30 million shillings from the government as seed capital in June 2021. The SACCO, with 167 members, has a loan portfolio of over 90 million shillings and has now recovered 34 million shillings from loans.
The success stories and achievements go to the members who are doing exactly what the government requires of them. RDC Hasaka Samuel rallied everyone in Obongi and West Nile to ensure they realize the socio-economic transformation of the NRM government and get rid of poverty through wealth creation.