Emyooga SACCOs to turn into cooperatives

KABALE– At least 25 Emyooga Savings and Credit Cooperatives [SACCOs] in Kigezi Sub-region are set to be transformed into cooperatives, having grown tremendously since their establishment about two years ago.

The Emyooga SACCOs, mainly agricultural in nature, have persisted under government funding through the Microfinance Support Centre [MSC], and able to accumulate at least Shs 11.3 billion since 2020.

The 25 are part of the total 270 Emyooga SACCOs in the region, although the majority of them have had funds recovery issues and management challenges.

The SACCOs whose members are majorly Women groups, market vendors, smallholder farmers, carpenters and saloon operators, and small-scale entrepreneurs among others have a membership total of about 6,934.

The Regional Manager for MSC for Kigezi region, Boaz Tuhumwire told this reporter in an interview that the region received at least Shs 6.4bln in 2020, to benefit all SACCOs, which has grown to Shs 11.3bln in 2022.

“Recovery has not been easy due to the Covid- 19 effects, but by now it should have been higher than what we are reporting,” he said.

He said other SACCOs would be given continuous assistance in terms of capacity building, monitoring, and recovery to ensure their existence is not threatened.

He also added that the share capital of the region is expected to rise to at least Shs 14bln by December 2022, with at least 74,234 jobs generated directly and indirectly

The SACCOs that have been promoted to permanent Cooperatives were taken through financial and leadership training, an activity that would be phased into parts to ensure proficiency and effective service.

The SACCOs that were elevated include:

Kabale municipality Boda Boda Operators

Kabale Municipality Women Entrepreneurs

Kinkizi East Women Entrepreneurs

Kinkizi East Produce Dealers

Kinkizi West Produce Dealers

Kinkizi West Carpenters

Ndorwa West Market Vendors

Kabale Municipality Market Vendors

Kabale Municipality Carpenters

Rubanda West Women Entrepreneurs

Bufumbira East Produce Dealers

Ndorwa East Women Entrepreneurs

Kisoro Municipality Women Entrepreneurs

Kisoro Municipality Produce Dealers

Bufumbira South Women Entrepreneurs

Bufumbira South Performing Artists

Bufumbira A North Carpenters

Bukimbiri Produce Dealers

Rubanda Pest Produce Dealers

Rubanda East Produce Dealers

Bufumbira Dast produce dealers

Rujumbura Produce Dealers

Rubabo Produce Dealers

Rubabo Boda Boda Operators

Rukungiri Municipality Women Entrepreneurs

Rukiga Women Entrepreneurs.

https://thecooperator.news/over-300-emyooga-saccos-in-masaka-to-get-extra-shs-20mln-each/

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