Launched in August 2019, the programme aims at creating jobs and improving household incomes of Ugandans in the boda boda industry, taxi drivers, restaurant owners, welders and market vendors.
The others are women entrepreneurs, youth, persons with disabilities, journalists, performing artistes, veterans, fishermen and elected leaders among others.
It is supposed to work in such a way that associations in the same business in a constituency come together and form a Sacco which then receives the seed capital from the government. The minimum capital is 30 million shillings that should work as a revolving fund among the Sacco members.
According to Fred Musinga, the Kitagwenda district commercial officer, the district has 600 associations but it received 500 million shillings a week ago. He says each group is consisting of between seven and 30 members.
However, the money is 120 Million Shillings lesser than what each constituency was promised when the initiative had just been launched.
The intended beneficiaries now say the money each Sacco is to receive is too little for them to borrow and invest in their businesses.
According to Musinga, if each member of the 600 groups applies for a loan from his or her respective Sacco, he or she may get between 27,000 and 90,000 Shillings depending on their number.
Donozio Nuwagira, the chairperson Nyabikoko Parish Carpenters’ Association in Buhanda sub county says he expected his association under the Omwooga of Carpentry to get 10 Million Shillings to boost their workshops.
Nuwagira however says he is disappointed the money they are to receive will be excessively little.
Irene Nyakato, a member of Nyabikoko Tailors Association says that she spent 50,000 Shillings during the registration process and she expected as an individual to be given at least 500,000 shillings to invest in her business which will not be possible.