Summary:

• President Museveni injects Shs1.2 billion into 12 youth Saccos in Kampala’s slums, urging active participation in key sectors, while addressing mismanagement concerns and emphasizing continued support.

President Museveni has allocated Shs1.2 billion to twelve different Savings and Credit Cooperatives (Saccos) catering to youth residing in the slums of Kampala City, Wakiso, and Mukono districts.

At the official launch of ghetto youth Saccos in Kampala, Mr. Museveni emphasized the potential for youth to uplift themselves from poverty by actively participating in four key productive sectors: commercial agriculture, factories and industrialization, services, and ICT and innovations.

During the event held at Kololo ceremonial grounds in Kampala on December 20, 2023, the President assured the gathered ghetto youths that the government would provide both education and startup capital. He urged them not to remain idle, emphasizing that there is ample financial support available.

Addressing the issue of mismanagement, President Museveni encouraged the formation of Saccos among the youth themselves, stating that additional funding would be provided if they effectively utilized the initial Shs100 million startup.

The President’s increased focus on ghetto communities follows the 2021 general election, where the Opposition National Unity Platform (NUP) led by Mr. Robert Kyagulanyi (Bobi Wine) achieved success in the central region. In response to the election results, President Museveni directed officials, including Brig Christopher Damulira, to investigate the reasons for the defeat.

Brig Damulira reported that a survey conducted in collaboration with state agencies revealed that many ghetto youths were facing poverty and unemployment, making them vulnerable to exploitation by opportunists. To address this, the government initiated a zoning strategy, mobilizing 120,000 ghetto youths from 216 zones to form structures that eventually gave rise to the Saccos.

The youths expressed gratitude for the support received and urged the President to continue bridging the gap created by top officials by directly extending assistance to them.