President Yoweri Kaguta Museveni has announced plans to inject funds into District Savings and Credit Cooperative Organizations (SACCOs) to provide startup capital for youth businesses.
Speaking at the commissioning of the Bunyoro Zonal Presidential Skilling Hub in Masindi District, the President emphasized that vocational training and financial empowerment are key to Uganda’s economic transformation. He said the creation of District SACCOs would ensure young people have access to affordable credit to start and expand their enterprises.
To further support youth employment, President Museveni directed administrators of Zonal Skilling Industrial Hubs to expand training programs to meet growing demand. He also highlighted Uganda’s shift from exporting raw hides to producing leather products locally, citing the Kawumu Tannery Factory as a success.
“Previously, we were exporting raw hides, which were turned into shoes and belts abroad. Now, with Kawumu, we are processing our own leather, and the Bunyoro Skilling Hub is using it to make shoes. This is how we wake up as Ugandans,” he said.
Prime Minister Robinah Nabbanja described the skilling hub initiative as a top priority in Uganda’s National Development Goals. She said young people who acquire skills will not only create jobs for themselves but also employ others, strengthening the economy.
The First Lady and Minister of Education and Sports, Janet Museveni, praised the initiative for equipping young people with practical skills. She noted that vocational training enables them to engage in productive work, contribute to their families, and drive national development.
“Human capital development is vital in our quest to evolve from a peasant to a modern and prosperous country,” she said. “The skilling of our young population remains a top priority.”
With government funding set to flow into District SACCOs, youth across Uganda are expected to benefit from increased financial access, boosting entrepreneurship and self-employment opportunities.
