Editorial
Vendors from Kalerwe and St. Balikuddembe (Owino) markets in Kampala are set to benefit from low-interest government funding, known as Katale loan.
The business financing project targets low-income earners and will be disbursed through the Microfinance Support Centre (MSC) at an interest rate of 8% per annum.
This move follows a directive from President Yoweri Kaguta Museveni that aims at empowering traders.
The initiative is a pilot project scheduled to be rolled out to several other markets within the central region with the intent to empower more traders; this, however, will be dependent on the success rate in Kampala.
This Presidential directive, the first of its kind, is set to benefit over 10,000 vendors in 24 sub-markets within Kalerwe alone and several others who ply their trade in Owino market.
MSC is a government institution that was established in 2001 and provides loans to Savings and Credit Cooperative Societies (SACCOs) after equipping them with financial literacy.
