The President of Uganda, President Yoweri Museveni Tibuhaburwa has supported the ghetto Savings and Credit Cooperatives in Kampala City with shs2.8billion.
The money is aimed at empowering the youth to participate in productive economic activities.
This fulfills his financial commitment a part of a larger government initiative aimed at uplifting ghetto communities by promoting organized SACCOs.
The beneficiaries of this fund include: the Katanga Young People Cooperative Society with Shs500 million, Kawempe Kikankane Bamwoyo Gwagwanga and Development Cooperative Society Ltd (shs1.3 billion), the Nakulabye Jambo Associates Cooperative Society Ltd (shs500 billion), and KCCA Councillors Economic Agenda SACCO (shs500 million).
At State House in Entebbe, President Museveni reiterated his enduring relationship with ghetto communities, reminiscing about his 1968 engagement with local youth in Katwe.
Maj. Emmanuel Kuteesa, who coordinates the ghetto youth initiative, emphasized that the revolving funds are designed to empower young people by backing small enterprises, fostering sustainability, and guiding them away from crime and substance abuse. The meeting also saw the presence of State House Comptroller, Jane Barekye.
