President Yoweri Museveni has pledged Shs85 billion revolving fund to support salon operators across Uganda, a move aimed at boosting small businesses in the fast-growing beauty and personal care industry.
The President made the commitment on Sunday at Kololo Ceremonial Grounds while officiating at the launch of the Federation of Uganda Salon Operators and Beauty Professionals.
President Museveni praised salon operators for providing essential services, noting that their work has become increasingly important as urbanisation grows and lifestyles become busier.
He reflected on the colonial period when African beauty and identity were undermined, saying Africans were made to believe they were not beautiful and had to imitate Europeans. He said that mindset had been defeated and Africans now confidently embrace their own beauty, especially within the Great Lakes region.
The President welcomed the development of locally made beauty products by salon operators, describing it as a positive step towards self-reliance and economic independence.
On financing, President Museveni explained that government support would be channelled through a revolving fund, with Shs100 million allocated annually to each SACCO.
“With about 850 SACCOs, that gives us about Shs85 billion in a year,” he said.
He said the revolving fund approach has worked under the Parish Development Model, where beneficiaries borrow, invest productively and repay the money with minimal interest.
President Museveni added that salon operators have a different business cycle from crop farmers, suggesting shorter loan periods.
“You can give them money for one year, they use it and return it with small interest,” he said.
The Deputy Speaker of Parliament, Thomas Tayebwa, thanked the President for focusing on ordinary Ugandans, saying many leaders often overlook people at the grassroots.
He also commended Salim Saleh and Operation Wealth Creation, noting that his office was among the first to engage and support salon operators.
Tayebwa raised concerns that although funds for groups such as salon operators are provided for in the national budget, they are sometimes not released by responsible institutions, particularly the Microfinance Support Centre.
The Minister of State for Youth and Children Affairs, Balaam Barugahara, said the informal sector includes many groups beyond salon operators, such as tailors and artisans, and urged the youth to continue supporting President Museveni’s leadership.
The Chairperson of the Federation, Kamanyire Celestine, thanked the President for prioritising grassroots entrepreneurs.
He asked the President to formally launch the federation’s 850 SACCOs, grant it a clear operational mandate, and ensure each SACCO receives at least Shs100 million, noting that each has more than 50 members.
He also appealed for the establishment of a common user facility to support the growth of the salon industry.
resident Yoweri Kaguta Museveni has pledged Shs85 billion revolving fund to support salon operators across Uganda, a move aimed at boosting small businesses in the fast-growing beauty and personal care industry.
The President made the commitment on Sunday at Kololo Ceremonial Grounds while officiating at the launch of the Federation of Uganda Salon Operators and Beauty Professionals.
President Museveni praised salon operators for providing essential services, noting that their work has become increasingly important as urbanisation grows and lifestyles become busier.
He reflected on the colonial period when African beauty and identity were undermined, saying Africans were made to believe they were not beautiful and had to imitate Europeans. He said that mindset had been defeated and Africans now confidently embrace their own beauty, especially within the Great Lakes region.
The President welcomed the development of locally made beauty products by salon operators, describing it as a positive step towards self-reliance and economic independence.
On financing, President Museveni explained that government support would be channelled through a revolving fund, with Shs100 million allocated annually to each SACCO.
“With about 850 SACCOs, that gives us about Shs85 billion in a year,” he said.
He said the revolving fund approach has worked under the Parish Development Model, where beneficiaries borrow, invest productively and repay the money with minimal interest.
President Museveni added that salon operators have a different business cycle from crop farmers, suggesting shorter loan periods.
“You can give them money for one year, they use it and return it with small interest,” he said.
The Deputy Speaker of Parliament, Thomas Tayebwa, thanked the President for focusing on ordinary Ugandans, saying many leaders often overlook people at the grassroots.
He also commended Salim Saleh and Operation Wealth Creation, noting that his office was among the first to engage and support salon operators.
Tayebwa raised concerns that although funds for groups such as salon operators are provided for in the national budget, they are sometimes not released by responsible institutions, particularly the Microfinance Support Centre.
The Minister of State for Youth and Children Affairs, Balaam Barugahara, said the informal sector includes many groups beyond salon operators, such as tailors and artisans, and urged the youth to continue supporting President Museveni’s leadership.
The Chairperson of the Federation, Kamanyire Celestine, thanked the President for prioritising grassroots entrepreneurs.
He asked the President to formally launch the federation’s 850 SACCOs, grant it a clear operational mandate, and ensure each SACCO receives at least Shs100 million, noting that each has more than 50 members.
He also appealed for the establishment of a common user facility to support the growth of the salon industry.