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UMSC launches Shs700m economic transformation project
Muslims during a training session on the long-awaited social and economic transformation project at Uganda Muslims Supreme Council in Kampala recently. PHOTO | SHABIBAH NAKIRIGYA.
What you need to know:
- The project aims to provide startup capital to Muslims in ten regions, allowing them to borrow without interest rates.
The Uganda Muslim Supreme Council (UMSC) has launched a social and economic transformation project worth Shs700 million to uplift the Muslim community across the country.
Speaking to the media in Kampala on Friday, UMSC National Chairman Dr Muhammadi Lubega Kisambira said that the project is part of the 10-year strategic developmental plan aimed at the socio-economic uplifting of the Muslim community.
"Muslims have lagged behind in several projects, resulting in stagnation of household income and an inability to support their activities," he said.
The project aims to provide startup capital to Muslims in ten regions, allowing them to borrow without interest rates.
"Each region will receive UGX 60 million as startup capital and Muslims will be able to borrow without any interest rates," Dr Kisambira said.
The project, set to kick off on August 9, 2024, will be implemented on 1100 acres of documented UMSC land across all ten Muslim districts in Uganda.
The allocation of funds will start from the headquarters to districts, with UMSC headquarters receiving 40 per cent, regional level 20 per cent, and 40 per cent shared between districts, counties, and mosques.
Regions selected include; Busoga - Cocoa production, Ankole-Kigezi - Coffee growing, Bunyoro-Toro -Coffee growing and cocoa production, Eastern Region - Coffee growing, West Nile - Cocoa production and Northern and North Eastern Regions - Sheep and goat rearing.
“The first bunch of the beneficiaries have already been sensitized by several experts on how they can make profits from different projects, especially in plant breeding, cocoa growing and coffee farming and production,” he said
Dr. Kisambira noted that the council has already presented the plan to President Museveni, who pledged to offer more funds once the project commences. The President highlighted the potential of cocoa plantations, which can generate Shs21 billion from 1,000 acres annually.
