Restaurant owners in Kasese District, located in the picturesque Rwenzori Sub-region, are celebrating significant financial growth following their shift from costly loans obtained from financial institutions to the Emyooga seed capital provided by the government.
This strategic move not only bolsters their businesses but also serves as a valuable training platform for students pursuing careers in the hospitality and catering sectors. Kasese Municipality has become a hub of success stories, where restaurant proprietors who availed themselves of the Emyooga initiative witnessed a surge in both business expansion and financial prosperity.
These entrepreneurs received seed capital from the government to catalyze the growth of their enterprises. Grace Asaba, Chairperson of the Kasese Municipality Restaurant Emyooga Sacco, shared the positive impact of this government support. “With the initial 30 million shillings seed capital and our collective regular savings, our group has experienced substantial financial growth,” noted Asaba.
The Emyooga program, facilitated by the Microfinance Support Centre, enabled these restaurant owners to not only boost their businesses but also generate employment opportunities for the youth in the region. The financial assistance provided by the government has empowered them to nurture their enterprises and contribute to the local economy.
Godfrey Bwambale, the Principal Commercial Officer of Kasese Municipality, highlighted the scope of the initiative in Kasese. “We distributed a total of 680 million shillings to 20 Emyooga Saccos within our municipality,” Bwambale reported. Visiting the Rwenzori Sub-region for benchmarking purposes, a team from 11 districts in the Teso Sub-region, led by Ngora District Commercial Officer Ekoom John Stephen, acknowledged the importance of cultivating a robust savings culture.
They recognized that nurturing a strong financial foundation through systematic savings is pivotal to the growth of their respective Emyooga Saccos and the overall improvement of living standards. “Developing a sound saving culture is imperative for the growth of our Emyooga Saccos and the enhancement of our quality of life,” affirmed Ekoom John Stephen.
Despite regional differences, one common thread emerges a prevailing trend of women taking the lead in fostering financial growth and savings within these saving groups in both the Rwenzori and Teso regions. As the Rwenzori Sub-region showcases tangible successes through initiatives like Emyooga, these stories inspire hope for increased financial independence, business expansion, and community development.