Gulu, Uganda – In a joint radio talk show on January 30, 2024, on radio Rupiny 95.7fm, the Deputy Resident District Commissioner (DRDC) of Gulu, Mr. Cosmas James Okidi, issued a warning that individuals who have defaulted on their Emyooga project loans since its launch in 2019 may face arrest.
The Emyooga project, a Presidential initiative on wealth and job creation, aims to provide seed capital to financially excluded Ugandans engaged in specific and similar specialized enterprises or categories, as explained by the DRDC.
Gulu District, consisting of the ASWA constituency, has formed a total of 18 Savings and Credit Cooperative Societies (SACCOs). The district received a total of shs600,000,000, comprising shs560,000,000 and an additional shs40,000,000 in seed capital. This money has already been disbursed to 1,132 beneficiaries.
Mr. Okidi announced plans to hold a meeting with the top executive members of the SACCOs to discuss strategies for addressing beneficiaries who are unwilling to repay their loans. Additionally, he noted that some SACCOs have not conducted their Annual General Meetings, a requirement for funding beneficiaries. He urged affected groups to conduct these meetings promptly, emphasizing that delays could hinder the submission of their documents to the Microfinance Support Center for additional seed capital disbursement.
While highlighting success stories, including improved saving culture, enhanced meetings, and better financial management, Mr. Okidi acknowledged the creation of employment opportunities and improved well-being among beneficiaries. He expressed gratitude to President His Excellency Yoweri Kaguta Museveni and the Commander of the armed forces for their commitment to fighting unemployment in the country. Mr. Okidi urged Ugandans to embrace and support the well-intentioned Emyooga program, emphasizing its clear intentions on wealth and job creation in the country.
