Eddy Kenzo: 80% of Musicians Benefited from SACCO Funds

Ugandan National Musicians Federation (UNMF) president Eddy Kenzo has revealed that 80% of musicians in the country have benefited from the Shs5 billion SACCO fund provided by the government.

Despite criticism from some artists who claimed they received no support, Kenzo insists the majority have accessed the funds.

“First of all, most of them have gotten the money, at least 80%,” he stated. “This money has helped many people, and you can ask one by one. If they are genuine enough, they will tell you how this quick relief has helped them.”

Kenzo explained that the SACCO funds, structured as loans without the need for collateral, present a rare opportunity for artists.

Also Read: Eddy Kenzo Credits President Museveni for His Success

“I don’t think there are more privileged people with that kind of opportunity like we have at the Federation,” he noted.

The singer also highlighted the challenges of distributing the funds fairly among musicians of varying calibers across the country.

He credited his leadership and knowledge for ensuring equitable allocation, despite the limited resources.

The Shs5 billion SACCO fund was introduced to provide financial relief and support for Uganda’s music industry, which has faced numerous challenges in recent years.

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