Stanbic Bank
Stanbic Bank
19.5 C
Kampala
Stanbic Bank
Stanbic Bank

Museveni commits Shs5b in creatives SACCO

Must read

Simon Kabayohttps://eagle.co.ug
Reporter whose work is detailed

President Yoweri Kaguta Museveni has committed Shs5 billion to a SACCO for creatives, pledging direct financial support to organized content creators as part of efforts to integrate them into Uganda’s formal money economy.

The announcement was made during the second edition of Jazz with Jajja held at his Kisozi farm in Gomba District, where he hosted content creators, journalists, digital entrepreneurs, and social media influencers for a dialogue on economic transformation and national values. The First Lady and Minister of Education and Sports, Janet Kataaha Museveni, attended the event alongside other senior officials.

During the engagement, President Museveni responded to a request from YouTuber Isaac Katende, popularly known as Kasuku, on how digital influencers can formally collaborate with the government. He described digital content creation as a modern evolution of traditional advertising.

“What you are talking about is not something new. In the past, companies spent money on television and radio advertising. Now a layer of operators has come up using social media as an easier way of communication to package and present products to consumers,” Museveni said.

He added, “If you are organized, we shall support you. If it is a combination of sales and entertainment, that is fine. I am glad to see our young people putting up that layer of promoters. We shall support you both in improving communication technology and operationally.”

Stanbic

The President framed the support within what he called Uganda’s broader struggle to move citizens from subsistence living into productive economic participation. He said about 70 percent of Ugandans have joined the money economy, leaving 30 percent yet to transition.

“In this new kisanja, we must fight poverty because poverty is the biggest problem,” he said.

Museveni emphasized that financing has been brought closer to citizens through initiatives such as the Parish Development Model and Emyooga, urging young people to join SACCOs in their communities. He revealed that government injects Shs100 million per parish annually, amounting to Shs500 million over five years, creating what he described as parish level banks.

“For the creatives, we are going to put money in your own SACCOs. We already have billions with the musicians. Now we are supporting you as well,” he confirmed.

Before the formal discussions, Museveni took participants on a tour of his farm, showcasing his herds including Ekyigondo, which now numbers over 700 cows originally belonging to his late mother. He used the visit to stress the importance of preserving family legacy and productive enterprise.

The Ranch Edition of Jazz with Jajja was coordinated by Natasha Museveni Karugire and brought together young Ugandans who shared stories of rising from difficult backgrounds through digital enterprise. The inaugural edition was held on January 4, 2026.

In her address, Janet Museveni urged young Ugandans to rediscover their identity and take responsibility for transforming their country.

“It is important that we celebrate being Ugandan. Africa has failed to develop because it always looks to other countries to develop it, yet there are jobs here,” she said.

She called on the youth to embrace faith, discipline and patriotism, cautioning against identity erosion and divisions based on tribe or religion.

“If we hold hands as Ugandans and work together, our country will be unstoppable,” she added.

The First Lady also highlighted reforms under the new competency based curriculum, describing it as a shift toward active learning where teachers act as facilitators and students engage in projects and critical thinking.

Among the participants was entrepreneur Jackie Arinda, who runs a coffee business marketed on TikTok, X, and Instagram. She said digital platforms had enabled her to build a brand and reach customers beyond her immediate location without relying on traditional distribution channels.

“What policy changes can enable Ugandan businesses to use new technologies like AI and drone systems? As much as we advertise, we are not yet skilled to the required standard,” she asked.

In response, Museveni reiterated government’s commitment to support innovation in communication technology and operational growth for creatives.

The engagement concluded with a call for patriotism and strategic security for Uganda and Africa, with participants describing the event as a platform for aligning digital enterprise with national transformation goals.

More articles

- Advertisement -

Latest article

- Advertisement -