KOLOLO, Uganda — President Yoweri Museveni has committed to establishing a Shs 85 billion revolving fund aimed at financing salon operators and beauty professionals across Uganda.
The announcement, made on Sunday at the Kololo Ceremonial Grounds during the official launch of the Federation of Uganda Salon Operators and Beauty Professionals, underscores the government’s focus on boosting small enterprises within the fast-growing personal care industry.
President Museveni lauded salon operators for their vital role in the national economy, noting that their services have become increasingly crucial amid rapid urbanization and demanding modern lifestyles.
The President utilized the platform to reflect on Uganda’s journey of cultural and economic self-assertion, noting that the colonial era had fostered a mindset where African identity and beauty were suppressed in favor of European imitation.
He declared that this colonial mentality has now been defeated, observing that Africans, particularly within the Great Lakes region, now confidently embrace their own beauty standards.
He welcomed the efforts of local salon operators to develop and utilize domestically made beauty products, describing it as a positive step toward realizing self-reliance and achieving economic independence.
Museveni explained that the financial support would be channeled through a proven revolving fund model, mirroring the successful mechanism used in the Parish Development Model (PDM). The plan allocates Shs 100 million annually to each of the approximately 850 registered SACCOs within the federation.
“With about 850 SACCOs, that gives us about Shs 85 billion in a year,” he confirmed.
The President emphasized that the revolving fund’s success relies on beneficiaries borrowing, investing productively, and repaying the principal with minimal interest.
He further suggested that the salon industry’s business cycle differs from that of traditional crop farmers, necessitating 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, publicly thanked the President for dedicating resources to ordinary Ugandans, acknowledging that grassroots entrepreneurs are often overlooked by national leaders.
Tayebwa, whose office has actively engaged the operators, also praised the efforts of Operation Wealth Creation led by General Salim Saleh.
However, Tayebwa raised a crucial operational concern: that although funds are periodically budgeted for such grassroots initiatives, responsible institutions, particularly the Microfinance Support Centre, sometimes fail to release them promptly.
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The Chairperson of the Federation, Kamanyire Celestine, expressed deep gratitude for the President’s prioritization of their sector.
Celestine formally requested the President to officially launch the federation’s 850 SACCOs, grant them a clear operational mandate, and ensure each SACCO—which typically has more than 50 members—receives the pledged Shs 100 million. He also appealed for the creation of a common user facility to foster the industry’s growth.
The Minister of State for Youth and Children Affairs, Balaam Barugahara, added context, noting that the informal sector extends beyond salon operators to include tailors and artisans, and urged youth to continue their support for President Museveni’s leadership.
