KAMPALA – Minister of State for Microfinance Haruna Kasolo has revealed that each Sacco for private teachers at the constituency level will receive shs60 million as seed capital under the Presidential initiative on wealth and job creation commonly known as Emyooga.
Addressing Parliament on Tuesday, Mr Kasolo said teachers in private schools are the 19th category of beneficiaries from Emyooga.
The move will come as a relief to over 350,000 teachers of private schools who have been stranded since March when schools were closed over Covid-19.
In his last national address on Covid19, President Yoweri Museveni promised to inject Shs 2 billion in Private Teacher’s SACCOs. He directed the Finance Ministry preferably through the Microfinance Support Centre to appropriate to allocate Shillings 20 billion to the same SACCO to allow teachers to access loans, which they will service once schools resumes.
Eboku Ejanu, the head of Credit and Operations at the Microfinance Support Centre, last month said private teachers right from kindergarten, primary and secondary schools to tertiary institutions will all benefit from the program.
Kasolo on Tuesday told MPs that the Ministry of Finance provided Shs30 billion in FY 2019/20 to the Microfinance Support Centre (MSC) towards implementation of Emyooga. In FY 2020/21, Shs210 billion has been provided and already Shs 140 billion has been disbursed this quarter to MSC for programme implementation, he added.
The minister also revealed that 134 district Emyooga taskforces have been formed as well as 29,747 parish associations countrywide.
It is envisaged that about Ushs 620 million shall be disbursed to beneficiary Emyooga SACCOs per Constituency.
Other beneficiaries categories include boda boda riders, women entrepreneurs, carpenters, salon operators, restaurant owners, welders, market vendors, youth leaders, persons with disabilities, produce dealers, mechanics, tailors, journalists, performing artists, veterans, fishermen and elected local leaders.
