Radio presenter and local deejay Jacob Omutuuze has revealed why and how SACCO money is not going to help musicians.
He said that Ugandan artistes go through so much and at the same time they invest a lot in their work but don’t get the equivalent profits like what they put in.
When musicians led by Eddy Kenzo cried to President Museveni about their financial problems, he told them to start up a SACCO where they will receive money from.
But the deal is not to just give them money. It is about lending them the money and allow them to use it in business and return it back.
According to Jacob Omutuuze, a Ugandan musician borrowing money is more dangerous. He said that they already don’t get any profits from the industry and it will even be worse when it is from government,
He said that the money will not help musicians at all they need to understand that they need more help than just being lent money.
“Borrowing isn’t the solution for musicians. What’s needed is proper preparation and development of the industry by the President of Creative,”. – Jacob Omutuuze
