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Tag Archives: SACCOs

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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SACCOs make case for tax exemption

Kampala, Uganda | THE INDEPENDENT | Saving schemes under the Uganda Co-operative Savings and Credit Union Limited have petitioned Parliament challenging the proposed corporation tax on SACCOs. Government suggested a corporation tax on profitable SACCOs in the financial year 2018/2019. Corporation tax is a tax imposed on the net income of …

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MPs oppose reinstatement of corporate tax on SACCOs

Kampala. Uganda | THE INDEPENDENT | The government proposal to reinstate corporation tax on Savings Credit and Cooperative Societies-Saccos has met stiff opposition from members of parliament. Corporation tax is a tax imposed on the net income of a company. Government proposes to levy the corporation tax on profitable Saccos with …

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