President Yoweri Museveni has launched Muyoka Savings and Credit Cooperative Organization (SACCO) and offered the organization Shs.100 million to further enable it continue its developmental operations and activities. The function took place this afternoon at Mengo Senior School in Rubaga North Constituency in Kampala.
On arrival at the site the President who was warmly received by the organization’s excited members, toured the different exhibition stalls to appreciate some of their income generating activities. These included shoe making, mushroom growing, flour milling, wine making to mention but a few.
The SACCO that derived its name from the first two letters of each of the President’s three names, secured office funding from the President for a period of one year. The SACCO comprises 740 members and operates in the five Divisions of Kampala namely Makindye, Rubaga, Kampala Central, Kawempe and Nakawa.
President Museveni expressed happiness with the level of the income generating activities by the members in despite of the limited funding. He expressed the hope that his small contribution would help the SACCO continue. He pledged more financial injection into the SACCO.
He encouraged the youth groups to not only make products but to also add value to them in order to improve on their quality. He cautioned Ugandans against preferring imported products to the locally made ones. He advised them to emulate his example of wearing locally made products from local companies.
The Minister for Kampala City Authority, Hon. Betty Kamya commended the President for taking off time to visit Muyoka SACCO. She noted that people’s eyes have been opened to the reality that government programs work because of such SACCOs.
Muyoka SACCO Executive Director, Ms. Rose Nakku Kafeero, thanked the President for supporting them since 2011.