Museveni Waives Collateral On Wealth Creation Loans

President Yoweri Museveni has waived the requirement for collateral before Ugandans can access government funds aimed at wealth creation.
While campaigning in Kiboga and Kyankwanzi district earlier today, Museveni said he had received complaints that some youth had been asked for security before benefiting from the Youth Livelihood Programme.
Museveni argued that the collateral for the poor is the individual’s trust group. He argued that if the people demanding for government’s financial support had collateral, they would have got loans from commercial banks.
Museveni also said the newly created Women Entrepreneurship Fund will be allocated Shs 234 billion.
He also promised to increase funds into SACCOs which have been at subcounties from the current 44 billion to 180 billion.He said the each village in the country will atleast get Shs 2 million.
The President had earlier completed his campaigns with a rally in Bunyoro region with a rally at Kakindo playground in Kyabigambire subcounty in Hoima district.

Story By Francis Mugerwa