The government has committed to extending financial support to small-scale traders who have not yet benefited from existing wealth creation programs like Emyooga and the Parish Development Model (PDM).
Moses Byaruhanga, the Senior Presidential Advisor in charge of Mobilisation, announced this initiative during a meeting with Patriotic Development Initiatives Ltd members in the Makerere Industrial Area. He noted that while funds are available, traders must organize themselves into formal, well-structured groups to access these resources. The government plans to use these structures to ensure accountability and direct impact.
“What I don’t want is to put money in the SACCO and it doesn’t reach the targeted people,” Byaruhanga said.
He explained that the government has already partnered with microfinance institutions to provide low-interest credit to market vendors. Under the Katale loan initiative, traders in markets like Nakawa and Busega currently access up to UGX 1 million with an annual interest of only UGX 80,000.
“With markets, we sat down with microfinance institutions and agreed to get a government money lender who will give loans at a very low interest rate,” he explained.
Byaruhanga will soon meet with group leaders to determine the exact number of traders and the specific needs of their businesses. He urged members to be strategic and maintain a good repayment culture to allow others to benefit from the revolving funds. Leaders must also monitor the performance of these businesses to justify additional government support.
The Chairman of the Patriotic Development Initiatives, Tumusime James, expressed gratitude to President Museveni for these ongoing interventions. He called upon the traders to embrace unity to maximize the benefits of the government's development agenda.
