Tag Archives: SACCOs

Kampala, Uganda | THE INDEPENDENT | The UN and Stanbic Bank have launched an initiative in which they hope to raise up to USD 100 million to help small and informal enterprises out of the effects of the COVID-19 pandemic. The initiative dubbed, the Economic Enterprise Restart Fund is a three-year …

Kampala, Uganda | THE INDEPENDENT | Leaders in Kigezi sub-region are skeptical about the effective implementation of the Presidential initiative on wealth and job creation program. The program commonly known as Emyooga targets SACCOs formed in 18 specialized fields that need capital to boost their incomes. Each SACCO will be …

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 …

Kampala, Uganda | THE INDEPENDENT  | The Finance Ministry is considering introducing a policy that sets standard rates for private audit firms that provide services to microfinance institutions. The Microfinance State Minister, Haruna Kyeyune Kasolo, says the ministry is concerned about the exorbitant costs microfinance institutions are incurring to procure …

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, …

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 …

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 …

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 …

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 …

Sam Omukoko is the group managing director for Metropol Corporation Limited, a business, information and credit management company. He spoke to The Independent’s Julius Businge about their business in Uganda and the East African region. Could you describe the role of Metropol Corporation Limited? Our role is to compile and …