Tag Archives: SACCOs

Nebbi, Uganda | THE INDEPENDENT | Authorities in Nebbi Municipality are facing challenges in recouping over sh540 million disbursed under the Emyooga program, a presidential initiative aimed at job and wealth creation, following the disappearance of at least 14 SACCOs without a trace. Local leaders report that the members of …

Africa has a combined SACCO membership of more than 43 million, holding about USD 24.5 billion in assets Kampala, Uganda | ISAAC KHISA | In an ever-evolving financial landscape, Savings and Credit Cooperative Societies (SACCOs) are emerging as impactful entities, harnessing influence grounded in community trust and convenience to bring about …

Kampala, Uganda | THE INDEPENDENT |  Money lenders and microfinance institutions have been advised to use legal means to conduct their businesses instead of resorting to the use of force, especially in recovering money. This comes at a time when the small lenders are trying to get to terms with …

Kampala, Uganda | THE INDEPENDENT | The Uganda Microfinance Support Centre – MSC, is facing intense scrutiny over the unlawful disbursement of 4.1 billion Shillings to different Savings and Credit Cooperative Organizations – SACCOs. Parliament’s Public Accountability Committee on Commissions, Statutory Authorities, and Enterprises – COSASE led by Joel Ssenyonyi …

BoU data shows members’ deposits stood at Shs.884.96 billion, while shares and other equity amounted to Shs.865.61 billion and Shs.1.471 trillion Kampala, Uganda | ISAAC KHISA | Local insurers in Uganda, just like their counterparts across Africa, are leveraging on bancassurance, agents and their physical outlets to increase insurance sales and …

Nairobi, Kenya | Xinhua | Kenya on Thursday launched a digital loan facility for groups and Savings and Credit Cooperative Societies (Saccos) as the country commemorated 60 years of internal self-rule. President William Ruto, who launched the digital scheme, said the product dubbed Hustler Group Loans, would give members economic freedom …

Sembabule, Uganda | THEINDEPENDENT | The Sembabule district leadership has tasked the Resident District Commissioner Caleb Tukaikiriza to institute investigations into alleged embezzlement of Emyooga programme funds through ghost enterprise groups. Sembabule received over two billion shillings which was lent out to 73 enterprise groups in the four constituencies under the …

Kampala, Uganda | THE INDEPENDENT | Speaker of Parliament Anita Among, has instructed the House Committee on Finance, scrutinizing the Microfinance Deposit-Taking Institutions (Amendment) Bill, 2022 to ensure inclusion of laws that protect members of Savings and Credit Cooperatives (SACCOs). The Speaker gave the directive during the plenary sitting on Thursday, …

Fort Portal, Uganda | THE INDEPENDENT | 20 Emyooga SACCOs in Fort Portal city have been selected to benefit from an additional seed capital of 20 Million Shillings each from the government. Angalia Kasigwa Godwin, the Resident City Commissioner of Fort Portal says that the SACCOs were selected to benefit from …

Civil servants who misused the money signed a MOU with the top officials at the PDM secretariat, and were supposed to have completed recovery by this week Kitgum, Uganda | THE INDEPENDENT | Kitgum district has recovered funds for 28 out of the 55 Saccos whose Parish Developement Model funds …