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Tag Archives: SACCOs

Mixed public reactions to approved Road Safety Bill

Kampala, Uganda | THE INDEPENDENT | A cross section of the public has expressed mixed reactions to the Traffic and Road Safety Bill, 2019 that was passed in Parliament on Wednesday. The Bill, passed by parliament with amendments, provides for the powers of the Minister for transport, registration and licensing and …

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Multiple registration, borrowing frustrates growth of SACCOs in Sembabule

Sembabule, Uganda | THE INDEPENDENT |  Multiple registration and borrowing are frustrating the growth of Savings and Credit Cooperative Societies-SACCO’s in Sembabule district, according to the authorities.  SACCO’s are member-founded microfinance institutions established to promote the saving culture and address the financial needs of members in terms of extending credit. However, …

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Museveni turns down youth leaders demands for UGX 3.4 bn

Kampala, Uganda | THE INDEPENDENT | President Museveni has declined to give 3.4 billion shillings to youth leaders. The over 342 youth leaders from different districts who had converged at Dams’ Water Stadium in Jinja on Wednesday asked Museveni to give them 10 million Shillings each to foot their lodge expenses and …

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Wakiso farmers transform SACCO’s into investment clubs

Kampala, Uganda | THE INDEPENDENT | Peasant farmers in Wakiso district have transformed their village savings and loans associations into investment clubs. They are using the clubs to deepen financial inclusions among members and improve their livelihoods as well as undertake investments in real estates. Noah Bulamba, the Chairperson of …

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Collapse of 13 Saccos in Kamwenge worries authorities, residents

Kamwenge, Uganda | THE INDEPENDENT |  The collapse of 13 Savings and Credit Cooperative Organizations –Saccos in Kamwenge and Kitagwenda has raised fears among district authorities over the future of Saccos there.  According to Kamwenge District Status report for the 2018/2019 financial year, 13 Saccos have collapsed in the last ten …

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Microfinance Regulatory Authority gets substantive executive director

Kampala, Uganda | THE INDEPENDENT | Edith Namugga Tusuubira has been named the substantive Executive Director of the Uganda Microfinance Regulatory Authority. The authority is a government agency mandated to regulate license and supervise tier 4 microfinance institutions and money lenders in Uganda. These include Savings and Credit Cooperatives –SACCOs, Non-deposit …

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