Tag Archives: SACCO

Kampala, Uganda | THE INDEPENDENT | President Yoweri Kaguta Museveni has thrown his weight behind medium and small financial sector players demanding a one stop regulation centre, saying that multiple centres lead to confusion in which gullible Ugandans may be abused and exploited. The President whose message was delivered by the …

Will the President’s move to cap interest rates charged by money lenders and his suggestions on regional markets yield tangible results, or are these just passing remarks? Kampala, Uganda | JULIUS BUSINGE | In his latest State of the Nation Address 2024, President Yoweri Museveni wants to cap interest rates charged …

Kampala, Uganda | THE INDEPENDENT | Colonel Freddy Joseph Onata, the Chief Executive Officer of the UPDF’s Savings and Credit Cooperative -Wazalendo, has expressed confidence to achieve their target of being a One trillion asset institution by next year. He said said the SACCO boasts a membership of over 100,000, share capital of …

Jinja, Uganda | THE INDEPENDENT | Former Deputy Chief of Defense Forces, Lt. Gen. Peter Elwelu, has urged the leadership of Wazalendo to prioritize the economic advancement of all its members, regardless of their ranks within the UPDF. Speaking at the Wazalendo annual general meeting held at Jingo City’s Gaddafi …

Kampala, Uganda | THE INDEPENDENT | The continuous withdrawals by police officers are posing a significant threat to the existence of Exodus Savings and Credit Cooperation Organization (SACCO). Established in 2007 during the tenure of Gen Edward Kale Kayihura as Inspector General of Police (IGP), the Exodus SACCO aimed to …

Kampala, Uganda | THE INDEPENDENT |  As the year-end festivities and business transactions pick up pace, the police have issued a warning to mobile money dealers and Village Savings and Credit Cooperation Organizations (SACCOs), highlighting their susceptibility to armed robberies during this period. This follows a recent surge in armed …

Soroti, Uganda | THE INDEPENDENT | The Minister of State for Fisheries, Hellen Adoa Abeku has ordered the Savings and Credit Cooperative Organization (SACCO) leaders in Serere to refund money allegedly extorted from residents seeking to benefit from the Parish Development Model (PDM) program. The orders were made during a …

Nebbi, Uganda | THE INDEPENDENT | Police in Nebbi District are holding six suspects to aid investigations into the theft of 16 million Shillings from Nebbi Workers Savings and Credit Cooperative Organization (SACCO) Ltd. Unknown thugs broke into the premises of Nebbi Workers Savings and Credit Cooperative Organization (SACCO) located in …

Mbarara, Uganda | THE INDEPENDENT | The Chairperson Kashari South Youth Emyooga Savings and Credit Cooperative organization, has been arrested. Victor Twinomugisha was arrested on Thursday on the directive of Mbarara Resident District Commissioner Emmy Katera Turyabagyenyi. This followed complaints from the SACCO members that Twinomugisha withdrew 30 Million Shillings from …

Ntungamo, Uganda | THE INDEPENDENT | Ntungamo District Commercial Officer Seth Niwagaba and the Kibatsi Sub-County Community Development Officer Isaac Arinaitwe have been arrested on allegations of creating ghost Saccos to benefit from the Parish Development Model Funds. The suspects were arrested on the orders of the Deputy National Co-ordinator of …