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New Presidential Initiative on Wealth and Job Creation Launched in Karamoja

It targets organized business groups involving women and youths mainly in the informal sector is meant to uplift the economic status of communities by reducing poverty at house-hold level. It’s also aimed at enhancing socio- economic transformation from subsistence to market oriented economy.

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A new presidential Initiative on wealth and Job creation has been launched in Karamoja. The national project run under the Microfinance Support Centre was today unveiled by State Minister for Finance Haruna Kasolo Kyeyune.  

The 100 billion Shillings project which targets organized business groups of women and youths mainly in the the informal sector is envisaged to uplift the economic status of communities by reducing poverty at the household level. It’s also aimed at enhancing socio-economic transformation from a subsistence to market-oriented economy.  

According to Kyeyune, each district will receive about 500 million Shillings to support the existing and newly formed SACCO’s viable to receive funding to the tune of 30 million Shillings. Kyeyune said this was a deliberate government program to provide financial access to organized groups in order to enhance their business capacity and income generation.

He added that the sensitization meetings will be conducted through the available government structures to ensure success of the program.  

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He also dismissed sentiments that the program was for political gain to president Museveni given that the country will go to polls next year. The program will be implemented at the parish level by design. The RDC’s and Commercial Officers are charged with the responsibility of sensitization and approval of the viable SACCOs to get a boost from the government. 

Samsan Olum, a district councillor of Karenga praised the initiative saying it’s a solution to poverty challenges in the region.  He says that once the project is implemented as per guidelines, it will go a long way in reducing poverty at household level.  

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Moroto Woman MP Stella Atyang warned against corruption saying it was the leading cause of failure of government interventions citing entandikwa, Bonna-Bagaggawale and NUSAF among others.   

“I hope this initiative will strengthen our Saccos. I want to warn saboteurs and those planning to eat this money that we are tired of corruption. We want the government to lift up our communities from poverty,” said Atyang  

Karamoja remains one of the poorest regions in the country with high rates of malnutrition and a disproportionate number (61 per cent) of its 1.2 million people, living in absolute poverty.  However, the government and other partners have injected billions of shillings in the region with less success.

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