President Museveni has urged youth to engage in income generating activities instead of working hand to mouth as is the norm today.
The president was speaking to youth in Sebei region in Eastern Uganda during his meeting with NRM party leaders.
Mr Museveni, who is on a countrywide political campaign trail where he is meeting party leaders to teach them about the party’s programmes, said that the government, using funds from taxes, has created various schemes that the youth can tap into to create employment.
“I am happy to inform them that due to the taxes from investors (attracted by the peaceful atmosphere), we are able to provide youth with capital and funds through programmes like Emyooga, Youth Livelihood Programme, Youth Capital Venture Fund, OWC, and girl-child-skilling, the President posted on his social media platforms.
“My appeal, however, is that with these funds, the youth should engage in income-generating activities rather than work for their stomachs, because there are more needs than the need to cure hunger,” the NRM party chairman added.
Government has initiated various youth to create jobs and wealth especially for youth and women.
The government has provided capitalization of Uganda Development Bank to the tune of Shs1 trillion for the 2020/21 financial year. Before this, UDB had been capitalized by close to Shs400 billion. This fund is supposed to address the high cost of borrowing in the commercial banks.
The fund can only be accessed by those investing in value addition, agriculture production, tourism and education infrastructure at an interest not more than 12 percent.
Government has also provided capitalization of Uganda Development Cooperation (UDC). This financial year, UDC was capitalized with Shs130 billion. UDC will invest in agro processing factories in every sub-region in Uganda to process what is locally produced.
Over the last four years, government has given out Shs160 billion to various youth groups across the country under the Youth Livelihood Programme. Additionally, government, through State House, is setting up Youth Industrial Hubs in every sub region. These will reportedly train the youth in various skills like carpentry, welding, mechanics, shoe making, tailoring, knitting, weaving, among others.
Under the recently introduced Emyooga fund, 18 different activities are already being organized in every parish in Uganda. Each group will get Shs30 million at constituency level while the one of the elected leaders will get Shs50 million. In total, each constituency will get Shs560 million. For Kampala and Wakiso, government has provided Shs50 billion to start with this financial year.
In northern Uganda after Nusaf 1, II and III and PRDP I, II and III which focused mainly of social infrastructure, government is going to introduce PRDP 4 which will be focusing on household incomes on top of Operation Wealth Creation.
With the above funds, the president says Ugandans in different economic activities will be reached. Government is already promoting serviced industrial parks in various regions of Uganda to promote job creation.
“By engaging in income-generating activities, we shall reduce the scramble for the few government jobs (480,000) by young people. In any case, private sector has at least 13 million vacancies (Industry (700,000), Services (1,300,000), ICT (170,000), Commercial Agriculture (11,965,200), hence should be our major target,” President Museveni said in a statement posted on social media platforms.
He also urged Parliament to prioritise wealth creation programmes during the budget making process.
“The other problem is the failure of parliament to prioritize. You find people budgeting to raise their salaries and increasing their foreign travel. We must emphasize budgets that cater for the masses to be able to raise Wealth Creation funds. Those who poorly budget are the people you elect,” Mr Museveni said.