Museveni Boosts SACCOs with Shs11.1 Billion for Mechanics & Skills Training
- President Yoweri Kaguta Museveni has allocated UGX 11.1 billion (approximately $2.9 million USD as of September 21, 2025) to Savings and Credit Cooperative Organizations (SACCOs) representing mechanics in...
- President Museveni emphasized that the funds are intended to directly benefit ordinary Ugandan citizens.
President Museveni distributes UGX 11.1 Billion to Ugandan SACCOs
Table of Contents
Published: September 21, 2025, 00:46:00
Overview
President Yoweri Kaguta Museveni has allocated UGX 11.1 billion (approximately $2.9 million USD as of September 21, 2025) to Savings and Credit Cooperative Organizations (SACCOs) representing mechanics in Kampala City, Masters of Ceremonies (MCs) nationwide, and beneficiaries of teh Industrial Skilling Hubs program. The funds were disbursed during a meeting held at State Lodge, Nakasero, on September 20, 2025.
Funding Breakdown
The UGX 11.1 billion was distributed across three key groups:
- Industrial Skilling Hubs: UGX 8.8 billion, with each SACCO receiving UGX 50 million. This covers 176 administrative units including districts,cities,and municipalities.
- Mechanics SACCOs (Kampala): UGX 500 million, distributed at UGX 100 million per SACCO across the five divisions of Kampala City.
- Masters of Ceremonies (MCs) SACCOs: UGX 1.8 billion, with each of the 18 zonal groups receiving UGX 100 million.
| Beneficiary Group | Total Funding (UGX) | Funding per SACCO (UGX) | Number of SACCOs |
|---|---|---|---|
| Industrial Skilling Hubs | 8,800,000,000 | 50,000,000 | 176 |
| Mechanics (Kampala) | 500,000,000 | 100,000,000 | 5 |
| Masters of Ceremonies (MCs) | 1,800,000,000 | 100,000,000 | 18 |
| Total | 11,100,000,000 |
President Museveni’s Rationale
President Museveni emphasized that the funds are intended to directly benefit ordinary Ugandan citizens. He stressed the importance of offering loans at affordable interest rates to ensure accessibility and promote economic empowerment.The President’s initiative aligns with the Ugandan government’s broader strategy to support small and medium-sized enterprises (SMEs) and vocational skills progress. New Vision reports on similar government initiatives focused on skills development.
Background on Ugandan SACCOs
SACCOs play a crucial role in Uganda’s financial landscape,particularly for individuals and businesses with limited access to traditional banking services. They provide savings