Staff Reporter
Muhangi Dastan, a mentor at the Microfinance Support Centre’s Kabale branch, has urged Emyooga leaders in Kanungu District to uphold transparency. His call came during a meeting with Emyooga leaders at the Kinkizi West Produce Dealers Omwooga SACCO office in Kihihi Town Council, Kanungu District.
During the training, Dastan stressed that transparency and trustworthiness are crucial for helping their groups evolve into strong financial institutions. Kinkizi West Produce Dealers was selected as a model Omwooga due to its high savings and share capital base.
The two-day workshop, held from Thursday, October 3rd to Friday, October 4th, covered topics such as organizational structure, leadership skills, roles and responsibilities of board members, principles of good governance, transparency, and financial discipline.
Agatha Musimenta, a supervisor for Kanungu District Emyooga groups, highlighted that leaders have been equipped with the necessary knowledge to manage finances effectively, from grassroots associations to the SACCO level. She emphasized that Emyooga funding is a crucial resource for Ugandans in skill-based trades (Omwooga) and urged leaders to increase savings and share capital to enhance their borrowing capacity. She also encouraged Emyooga members to prioritize income-generating projects that align with their skills, rather than solely depending on loans.
Musimenta further cautioned against loan defaulting, noting that this limits members’ potential, as repaid loans allow the government to increase support by 20 million shillings each financial year. This additional funding enables members with smaller loans to borrow larger amounts.
Busingye Wilson, the chairman of Kinkizi West Produce Dealers, and Wilbrod Ampumuza, the secretary, expressed gratitude to the Microfinance Support Centre for the valuable training. They believe that applying the acquired knowledge will help them expand into larger financial institutions and strengthen their organization’s financial capacity.
