Uganda Government Releases UGX 10 Billion to Music Promoters’ SACCOs
KAMPALA — The Ugandan government, under President Museveni’s administration, has transferred UGX 10 billion to three savings and credit cooperatives (SACCOs) dedicated to music promoters, fulfilling a pledge made during a 2023 meeting at Kololo Ceremonial Grounds.
The funds were disbursed through the Microfinance Support Centre to three specific organizations: the Uganda Music Promoters Sacco, the Kampala and Beyond United Music Promoters Saving and Credit Cooperative Society, and the National Events and Bivulu Promoters Sacco. According to official reports, the capital injection is intended to enable low-interest loans for hundreds of promoters to grow their operations.
Beneficiaries celebrated the disbursement during a meeting in Ndeeba, while government officials highlighted the inclusion of financial training to help promoters manage the funds effectively.
The move has generated mixed reactions. While supporters view it as a boost to the entertainment sector, some online voices have questioned the government’s decision to prioritize entertainment funding over critical sectors such as health, education, and infrastructure.
In an official statement on X (formerly Twitter), the Government of Uganda confirmed the disbursement, stating: “Music promoters under three SACCOs have received Ugx. 10 billion from President Museveni, in fulfilment of a pledge he made to boost their businesses and improve their livelihoods.” The announcement was shared with the hashtag #OpenGovUg.
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