The Speaker of Parliament, Annet Anita Among has asked the government to guide people on the projects they should invest in when they get money from the Parish Development Model (PDM) and emyooga to avoid losses.
Speaker Among says that most of the people who are getting the funds from government are struggling to understand where exactly to invest their money and end up misusing the money into other things that do not benefit them.
She made these remarks while speaking at the closing of the Micro Finance and savings Groups Conference 2022, held at Hotel Africana Kampala held under the theme “Drivers for sustainable micro finance and savings groups”.
“The people who are given money should first be trained and skilled on how such money is used so as they successfully generate income that will economically empower them. The beneficiaries of Emyooga and PDM need to be taken through what they are supposed to do and not while doing projects while using government program funds.
She also said that parliament will support any undertaking to amend in the laws protecting micro finance and saccos to address various issues affecting players in the field of micro finance since they do not have much protection like banks.
She also expressed support for the UGANDA Microfinance Regulatory Authority (UMRA) not to be emerged order to get profits and return them back since it’s a revolving fund.
Both government projects, emyooga and PDM have since been met with grave allegations of corruption and misappropriation from the time they were separately launched.
