A new, more accountable SACCO initiative is being rolled out across Uganda’s Skilling Centres to empower youth with financial tools after previous funding phases were marred by mismanagement.
Dr. Faith Katana Mirembe, Head of the Skilling the Girl and Boy Child Program, announced the development during an engagement at Mulago Skilling Centre on Saturday. She revealed that earlier efforts to provide startup capital up to Shs 1 million per trainee had been scaled back due to growing enrollment and budget limitations.
“As the numbers increased, we could no longer sustain direct financial incentives,” Dr. Katana said, adding that many program graduates have still gone on to secure meaningful employment.
A major setback, she noted, was the mismanagement of Shs 200 million previously allocated to student SACCOs, prompting a complete overhaul of the financial empowerment component.
“We are launching something new and serious. The President has directed the formation of SACCOs specifically for skilling students, and implementation begins immediately,” Dr. Katana announced.
The new SACCO model, supported by the Microfinance Support Centre, will include financial literacy and cooperative management training.
The first sessions were recently held at Mulago Skilling Centre, where students were guided on responsible fund utilization.
SACCOs will be established at six key centres: Wabigalo, Kigoowa, Mutundwe, Kikoni, Mulago, and Wandegeya. The aim is to equip trainees with practical financial knowledge to support their transition into employment or entrepreneurship.
Several students shared testimonies of successful ventures launched after training, underscoring the program’s continued relevance and its potential for positive transformation under the revised model.
