Minister Musherure Urges Karamoja Residents to Invest Emyooga Funds

State Minister for Finance in charge of Microfinance, Shartsi Kutesa Musherure, recently called on residents of the Karamoja sub-region to invest their Emyooga funds into income-generating activities. During a two-day tour alongside officials from the Microfinance Support Centre, Musherure evaluated the progress of several SACCOs across the districts of Moroto, Napak, and Nakapiripirit to understand how the capital is driving change.

The appeal arrives against a challenging economic backdrop. Statistics from the Uganda Bureau of Statistics indicate that Karamoja’s poverty rate sits at 74.2 percent, significantly higher than the national average. Launched in 2019, the Emyooga initiative aims to pull households out of subsistence farming and into the formal money economy through organized savings groups and market-oriented production.

Highlighting inspiring success stories, Musherure pointed to 32-year-old Pius Icudo from Napak District. After receiving a small Emyooga loan of Shs1.2 million through the Ngakaupi-Etic SACCO, Icudo expanded his garage and spare-parts business. He now employs five youths, trains other mechanics, and supports his family, proving that small investments can generate profound results when managed well.

Microfinance Support Centre Executive Director John Peter Mujuni also stressed the importance of building a robust saving culture. He noted that regular savings are essential to keeping SACCOs alive and capable of supporting future generations. Local leaders, including Nakapiripirit Resident District Commissioner Bessie Modester Ajilong, confirmed that the program is gradually shifting local mindsets toward saving and organized enterprise despite environmental challenges in the region. Read more about this initiative in the Nile Post.