Business 13 October 2026 Nile Post
Minister Mulondo Emphasizes Financial Discipline for Emyooga Beneficiaries
State Minister Cissy Mulondo has urged beneficiaries of the Emyooga program to adopt strict financial discipline and accountability. She stressed that the seed capital is a revolving fund, not free money, and timely repayment is crucial for the program's sustainability and to enable wider access to funds. Source: https://nilepost.co.ug/news/377933/mulondo-urges-emyooga-beneficiaries-to-embrace-financial-discipline
State Minister for General Duties, Cissy Mulondo, has strongly advised recipients of the government’s Emyooga initiative to embrace financial discipline, accountability, and effective leadership. These principles, she stated, are fundamental for growing their businesses, generating employment, and contributing to Uganda’s overall socio-economic development.
Minister Mulondo cautioned beneficiaries against viewing the Emyooga seed capital as a handout, emphasizing its nature as a revolving fund. “Emyooga seed capital is a revolving fund, not free money,” she declared, urging prompt loan repayments to ensure continuous access for other members.
These remarks were made during the closing of a leadership training program organized by the Microfinance Support Centre (MSC) at the National Leadership Institute in Kyankwanzi. The minister highlighted that wealth creation necessitates ideological clarity and a shift from subsistence to active participation in the monetary economy.
She elaborated that government funding can be a powerful engine for economic transformation when invested productively, managed responsibly, and generates sustainable income. Treating this support as a donation, Mulondo warned, jeopardizes the program’s longevity and limits opportunities for others relying on these funds.
The Emyooga program, spearheaded by the MSC, provides financing through SACCOs to organized enterprise groups, aiming to improve livelihoods. Mulondo called for transparency, robust accountability, and efficient fund management to ensure tangible economic gains for beneficiaries.
She also urged SACCO leaders to maintain meticulous financial records, strengthen internal controls, and ensure members understand their borrowing and repayment obligations. Entrepreneurs were further advised to separate personal and business finances, keep accurate accounts, and reinvest profits to foster growth.
Mulondo outlined four key pillars of transformative leadership – patriotism, Pan-Africanism, socio-economic transformation, and democracy – as guiding principles for beneficiaries. She encouraged them to explore regional markets, focus on wealth creation and employment, and practice transparency and accountability within their groups.