The Minister of State for Microfinance, Ms Harriette Musherure, has called for stronger and sustainable microfinance interventions to empower economically active poor households and drive wealth creation across the country.
Minister Musherure made the remarks on Tuesday during a meeting with the leadership of the Microfinance Support Centre (MSC) at the Ministry of Finance, Planning and Economic Development, where she discussed ways of aligning the agency’s work with President Museveni’s strategic direction on wealth creation.
The meeting, attended by MSC Executive Director John Mujuni and other officials, focused on strengthening government’s investment in microfinance to build financially resilient communities and create sustainable livelihoods.
Minister Musherure said microfinance programmes should go beyond disbursing money and instead equip beneficiaries with the capacity to save, invest in viable enterprises and build sustainable sources of income.
The MSC leadership said its interventions focus on strengthening microfinance institutions, promoting savings, supporting viable enterprises, expanding financial literacy and ensuring government programmes deliver meaningful and lasting impact.
The centre said it has so far reached 7.5 million beneficiaries, supported the creation of about 1.2 million jobs and worked with 7,391 client institutions while contributing to efforts to reduce interest rates.
Going forward, the ministry and MSC will prioritise stronger monitoring and governance, increased savings, appropriate financial products, enterprise development, value addition and improved coordination among stakeholders.
The measures are intended to ensure that public investment in microfinance translates into sustainable household incomes, job creation and broader economic transformation.
