National News

Six Emyooga SACCOs Secure Initial Funding Two Years After Formation in Omoro District

Six out of the nine Emyooga SACCO groups in Omoro District, Acholi Sub region, have successfully secured initial funding of UGX 30 million and UGX 50 million in seed capital, marking a significant milestone two years after their formation in 2020.

The disbursement, totaling UGX 220 million, was made possible by the Microfinance Support Center through the Government of Uganda.

Four of the SACCOs were allocated UGX 30 million each, while the remaining two SACCOs, consisting of political leaders, received UGX 50 million each. The beneficiary groups are as follows: Omoro County Taxi Operators SACCO, Omoro County Leaders’ SACCO, Omoro County Mechanic SACCO, Tochi County Leaders’ SACCO, Tochi County Welders Cooperative Saving and Credit Society Ltd, and Tochi County Tailors SACCO.

However, three groups – Tochi County Fishermen Emyooga SACCO, Tochi County Produce Dealer Emyooga SACCO, and Omoro Welders Emyooga SACCO – are still in the process of disbursement due to complications related to incorrect account details and names associated with their certificates of registration.

Henry Opio, the Acholi Sub region Emyooga Focal Point Person, highlighted that discrepancies in account names and numbers caused delays in the fund disbursement. He explained, “Verifying the details of the nine groups took us some time because of alignment issues with account names and account numbers. We also needed confirmation from relevant stakeholders before proceeding.”

Kevin Auma, the Omoro District Commercial Officer, echoed similar sentiments, attributing the delays to contradictions in group details such as account names and numbers. Auma urged the beneficiaries to use the funds judiciously for personal and community development, emphasizing that the money is meant to uplift their livelihoods.

Members of the Emyooga SACCOs expressed excitement about the funding finally reaching their accounts, despite the extended wait. James Kidega, a member of Omoro County Mechanic Emyooga SACCO, plans to use the funds to advance his business and support his family’s needs, including school fees for his children. Prossy Lanyero, chairperson of Tochi County Tailors Emyooga SACCO, outlined her intentions to elevate the status of her fellow tailors by establishing proper tailoring shops.

Denis Okello, the secretary of Omoro County Taxi Operator Emyooga SACCO, shared the group’s strategy of borrowing and investing individually to foster development and timely repayment. He expressed that the funds, if received earlier, could have significantly accelerated their progress.

Maj Benny Odong, the Omoro District Operation Wealth Creation Coordinator, encouraged prudent utilization of the funds to eradicate poverty and promote sustainable development. He emphasized the revolving nature of the Emyooga funds and the potential benefits for future generations.

In Acholi Sub region, there are a total of 330 Emyooga SACCO groups benefiting over 8,000 beneficiaries. The recent funding distribution signifies a step forward in the government’s efforts to empower local communities and bolster economic growth through the Emyooga program.

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