President Yoweri Museveni made a generous donation of 1.2 billion shillings on Wednesday to 12 Ghetto Youth Savings and Credit Cooperative Societies (Saccos) spread across the Kampala city’s five divisions.
The donation was announced during the launch event held at Kololo ceremonial grounds, where President Museveni emphasized the importance of self-reliance and productive collaboration among the youth.
The benefiting Saccos include Kampala Kisenyi Ghetto, Kasangati Ghetto Community Savings, Nansana Division, Makindye west youths, Makindye East Ghetto youth, Kasokoso youth, Kawempe South, Kawempe North, Rubaga Kakeeka zone, Nakawa Division among others.
Each group is set to receive startup capital of 100 million shillings. The president implored the newly formed SACCOs, to work collectively towards their shared prosperity.
President Museveni, serving as the chief guest, urged the youth to organize themselves in their various groups and engage in various economic activities to ensure sustainable development.
He stressed the need for active participation in commercial agriculture, industry, services, and information and communication technology (ICT) to overcome poverty. Activities like poultry farming, and shoe making among others.
He commended those already involved in the services sector and pledged support through the State House skilling initiative.
President Museveni expressed gratitude to Brig. Ddamulira, Maj. Emma Kutesa, and their collaborators for bringing positive change to the ghetto and mobilizing the youth to form SACCOs.
“I sent Damurila and Kutesa because the ghetto youth have had gaps, I told them to organize and form groups so that their challenges are addressed. I therefore urge each of you to engage in an economic activity of your choice that is sustainable.” said Museveni
He further stated that the NRM government is ready to sponsor ghetto youths in learning and sharpening their skills through already existing state house scholarships.
“That is why State House has a scheme for education through skilling programs” he added
The President appealed to the youth is to foster collaboration and mutual accountability within the SACCOs to maximize the benefits of the financial support.