Hijaz Cooperative introduced a ten-million-dollar initiative in Kampala to combat poverty and youth unemployment. According to Nile Post, the organization established the Revolving Economic Empowerment Fund, or REEF, at the Uganda Investment Authority facility in Kololo. The project aims to transform charitable donations into lasting economic benefits for marginalized populations, including refugees and persons with disabilities.
The mechanism operates by recycling capital rather than providing one-time aid. Nile Post explains that money returned from successful ventures will be redeployed to support new entrepreneurs. This approach targets specific gaps in the local economy, such as insufficient start-up capital and poor agricultural storage infrastructure. The fund will finance activities in the Central, Eastern, Northern, and Western regions, focusing on vocational skills and market access for small-scale operators.
Funding will be sourced from various Islamic finance instruments, including Zakat and Sadaqah, alongside corporate grants. The launch event gathered a diverse group of stakeholders, including diplomatic envoys and academic leaders. Nile Post noted that Sheikh Abdulla Ahmed Al Jofairi represented the Qatari embassy, while Prof Badru Kateregga spoke on behalf of Kampala University. Government officials from the Ministry of Trade also attended the ceremony in Kololo.
The Qatar Embassy pledged its backing for the cooperative’s broader empowerment goals. This commitment may facilitate future collaboration in livelihood programs. However, Nile Post suggests that achieving the ten-million-dollar target requires consistent fundraising and rigorous oversight. The success of the model hinges on how effectively the recovered funds are managed and distributed to new beneficiaries.
As the program moves into its implementation phase, observers will monitor the speed at which these pledges convert into real-world opportunities. The initiative seeks to demonstrate that faith-based finance can drive inclusive development. Ultimately, the goal is to help small-scale entrepreneurs secure affordable capital, thereby reducing their dependence on short-term humanitarian relief.