A new and more accountable SACCO initiative is being rolled out across Uganda’s Skilling Centres following financial mismanagement in earlier phases of the program.
Dr. Faith Katana Mirembe, Head of the Skilling the Girl and Boy Child program, announced an engagement held at the Mulago Skilling Centre.
Dr. Katana revealed that the earlier provision of startup funds, up to Shs1 million, for pioneers in 2017, had since been affected by rising student numbers and increasing budget constraints.
“That’s why trainees no longer receive direct incentives,” she explained, although she affirmed that many graduates have successfully secured jobs.
Highlighting a major setback, Dr. Katana disclosed that a Shs200 million fund previously allocated to student SACCOs had been mismanaged, prompting a complete reset of the financial empowerment model.
“We are starting something very new and serious. The President has directed that SACCOs be created specifically for skilling students, and implementation is going to be immediate,” she said.
The new initiative, supported by the Microfinance Support Centre, includes training sessions on financial management and SACCO development. Students have already received lectures on how to utilize the funds responsibly, with the first sessions taking place at Mulago Skilling Centre.
SACCOs will now be established at six major centres: Wabigalo, Kigoowa, Mutundwe, Kikoni, Mulago, and Wandegeya. The goal is to empower trainees with practical financial tools to transition into sustainable employment and entrepreneurship.
