Disbursement of Funds (Seed Capital)

To prepare for seed capital disbursement, MSC entered into MOUs with various commercial banks with a view to fast-track the acquisition of bank accounts for ready apex Emyooga SACCOs by ensuring that the members benefit from affordable transactional costs and favourable terms and account features.

The Emyooga SACCOs formed per district opened bank accounts, which their respective RDCs, RCCs and Ministry for Kampala and Metropolitan Affairs verified and submitted to MSC in preparation for seed capital disbursement.

As at 30^th June 2021, MSC had disbursed Ushs. 205.34BN directly to 6,394 apex EMYOOGA SACCOs through their respective bank accounts in 353 constituencies, 146 districts including cities. The process is ongoing to complete disbursement of seed capital.

Accessibility of funds from bank accounts / disbursement by SACCOs commenced with a total of 2,900 SACCOs that have disbursed funds to 29,067 Parish based associations (their members). Furthermore, 3,223 SACCOs have physical office space to operate and thus easing access to their members.