By KT Reporter
The Katakwi District Emyooga Veterans SACCO, comprising over 200 members from Ngariam, Usuk, and Toroma counties, has received a significant financial boost amounting to UGX 110 million to support economic empowerment and improve livelihoods.
On Saturday, the SACCO received UGX 60 million in seed funding from the Microfinance Support Centre (MSC), and an additional UGX 50 million donation from Vice President Maj. (Rtd.) Jessica Alupo towards the completion of the Veterans House in Katakwi Town Council.
Further contributions came from Shadrack Nzeire, Chairperson of the National Executive Committee (NEC) and brother to President Museveni, who donated UGX 30 million, and the Central Executive Committee Chairperson, who contributed UGX 20 million. Members of the SACCO registered with UGX 20,000 and contributed UGX 10,000 as share capital.
The SACCO lends out money at an 8% annual interest rate, which is collected after one year. Francis Eruoku, the MSC Regional Manager, said the funds are part of ongoing government efforts to economically transform SACCOs in Uganda.
He noted that two tractors had already been delivered to Kapujan Seeds Cooperative in Toroma and Ongogngoja Cooperative in Usuk, significantly improving agricultural output in the region.
Joseph Barraza, MSC Regional Manager for Greater Buganda and Bunyoro, who represented the Executive Director, handed over four motorbikes to boda-boda SACCOs and announced plans to provide tractors to veterans’ groups in Katakwi.
Rtd. Maj. Alex Ocodio, interim Chairperson of Katakwi Veterans SACCO, said the organization is steadily growing and has already constructed a house for veterans. He thanked the government and partners for the financial support, which he said will strengthen their operations.
Gabriel Abuderi, LC1 Chairperson for Central Cell, acknowledged the challenges veterans have faced and urged the government to provide tractors to modernize agriculture. He praised the Vice President for her continued engagement with MSC and veterans’ welfare.
Lt. Col. (Rtd.) Robert Ariko, representative of veterans from the three counties, appealed for funding to build a fully equipped office with computers. He revealed that the three SACCOs previously received UGX 150 million, or UGX 50 million each, but more support is needed to expand membership and increase outreach.
Patrick Todi, District Commercial Officer and focal person for Emyooga in Katakwi, described the government support as a turning point for veterans’ economic empowerment. However, he pointed out that only 16 of the 57 Emyooga SACCOs in the district are currently active.
Todi attributed the slow progress to a poor mindset, with some community members wrongly viewing the funds as free money. He also cited a low loan recovery rate of just 23% and a poor saving culture, noting that only UGX 48 million had been saved collectively since the SACCOs began.
Vice President Alupo, who also chairs the Veterans Committee in Katakwi District, officially joined the three veterans SACCOs by registering and subscribing. She urged veterans to become champions of government initiatives and to take the lead in promoting social-economic transformation through Emyooga.
She later handed over a dummy cheque of UGX 60 million to the SACCOs in Ngariam, Usuk, and Toroma, and promised to lobby for more support, including tractors, to help veterans transition to modern agriculture and a money economy-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
