The government has committed Shs2 billion to support a savings and credit cooperative organisation (SACCO) established by Ugandans who returned from South Africa, in a move aimed at helping them rebuild their livelihoods and establish businesses.
Ambassador Dickson Ogwang Okul, who represented the Minister of Gender, Labour and Social Development, said President Yoweri Museveni was supporting the returnees’ SACCO with the funds to promote economic recovery and financial independence.
“This support is an important step towards helping our people rebuild their livelihoods. We want returnees to invest in productive businesses, restore their financial independence and create opportunities for fellow Ugandans who may return in the future,” Okul said.
He added that the government would assist returnees seeking the necessary documentation to recover equipment left behind in South Africa.
Okul also said the government would engage its South African counterpart over possible compensation for assets the returnees had left behind.
The commitment comes as hundreds of Ugandans who returned from South Africa seek to rebuild their economic lives after losing assets and other investments accumulated over several years.
Charles Ocici, Executive Director of Enterprise Uganda, said financial assistance alone would not be sufficient to guarantee successful reintegration, emphasising the need to rebuild confidence and equip returnees with the skills required to establish sustainable enterprises.
He said returnees needed to recognise that, despite their losses, they still possessed valuable skills, experience and the ability to start again.
Bob Paul Lusembo, Head of Micro Segments at Equity Bank Uganda, who represented Managing Director Gift Shoko, encouraged the returnees to start businesses with the resources available to them and expand gradually through disciplined financial management.
“There is no dignity in poverty. We want our returnees to regain their confidence, start small and build businesses that support their families,” Lusembo said.
The government’s Shs2 billion commitment is expected to provide a potential source of financing for members seeking to establish or expand income-generating activities.
However, the long-term impact of the initiative will depend on how the funds are managed, access to viable business opportunities and the returnees’ ability to build sustainable enterprises.
The initiative forms part of broader efforts to help returning Ugandans regain financial stability, restore their livelihoods and contribute to the country’s economic development.
