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Tag Archives: SACCOs

Nebbi Emyooga SACCOs disappear with sh540 million

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 …

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Harnessing SACCOs for insurance expansion

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 …

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MSC faulted for irregular disbursement of sh4.1Bn to SACCOs

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 …

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SACCOs offer big opportunity to market insurance

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 …

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Sembabule district probes disbursement of Emyooga funds to Ghosts SACCOs

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 …

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Protect SACCOs in new MDI law – Speaker Among

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, …

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