Mugabe R
Rotarian Steven Nsubuga Bewayo, the Resident District Commissioner (RDC) of Rukungiri, has urged SACCO operators to prioritize the promotion of a saving culture among their members rather than focusing solely on loan disbursement. He emphasized this during his remarks at the 21st Annual General Meeting attended by delegates at Buhunga SACCO in Buhunga Sub County, Rukungiri District.
Bewayo stressed the importance of instilling a mindset change to enhance saving habits, highlighting that the primary objective of SACCOs is saving, not loan disbursement. He noted that the emphasis on loans has led to accumulating bad debts due to insufficient emphasis on saving and members primarily viewing SACCOs as sources of credit.
Nahwera Santurina, the District Woman Councilor representing Buhunga and Ruhinda Sub Counties, who attended on behalf of the LCV Chairperson, acknowledged the steady progress of Buhunga SACCO. She challenged LC1 Chairpersons to discourage multiple borrowing by individuals, who seek loans from multiple SACCOs using a single mortgage.
Ms. Atuhaire Caroline, the Senior Commercial Officer of Rukungiri District, acknowledged the development at Buhunga SACCO and encouraged efforts to strengthen mobilization and marketing for further improvement.
During the meeting, elections were held to fill expired positions. Byamukama Jackson retained the position of Board Chairperson, Newman Cosmos as Vice Chairperson, and Kembabazi Annah Kakurungu as Treasurer. Additionally, Atukwase George, Byaruhanga Julius, Namara Allen, and Mubangizi Josephati were elected as Board members.
Byamukama Jackson, the re-elected Board Chairperson, expressed gratitude for the trust placed in him by the members and pledged to continue working diligently. He urged fellow Board members to lead by example for the continued development of Buhunga SACCO.
Buhunga SACCO is currently dealing with bad debts totaling 55,518,118.
