NICHOLAS A
Leaders and members of the Burama-Bugangari Parish Development Model (PDM) SACCO in Bugangari Sub-county, Rukungiri District, have been encouraged to adopt values and practices that enhance the group’s performance and improve their financial well-being.
Rukungiri District Commercial Officer Caroline Atuheire, speaking as the guest of honor at the SACCO’s first annual general meeting held at Burama Parish headquarters, emphasized the need for mindset change, cooperation, accountability, and transparency. She noted that these practices are crucial for PDM funds to impact both the parish and individual families positively.
She cautioned members against diverting funds to activities other than their registered enterprises, as this violates PDM regulations. Atuheire praised the Burama-Bugangari SACCO for becoming a model PDM SACCO in the district and urged members to increase their shares, make timely loan repayments, and invest wisely to foster development.
Emily Akunda, the Bugangari Sub-county Chief, commended the SACCO members for their innovation and hard work, noting that they are the only parish among seven in the sub-county with a fully functional PDM SACCO. She urged the leadership to consider all six PDM pillars, not just financial inclusion, to achieve holistic development.
Jaston Byamukama, the LC3 Chairperson of Bugangari Sub-county, reminded SACCO members that the PDM funds are a revolving resource. He called the leadership to maintain proper records to help track and address loan defaulters.
Burama Parish Chief Joseph Akampurira shared that he and the parish residents studied the PDM manual and decided to start the SACCO in compliance with the government’s directive for each parish to establish one. While the SACCO has made significant progress, Akampurira acknowledged their challenges as a newly established group.
Agness Atwebembire, the Vice Chairperson of Burama-Bugangari PDM SACCO, reported that the SACCO, founded in February 2022, has received UGX 218 million to support 39 enterprise groups comprising 278 individual shareholders. She highlighted their achievements, such as constructing a parish office, issuing loans to members, purchasing plastic chairs, and conducting sensitization programs to help members manage their enterprises.
However, Atwebembire noted several challenges, including poor loan repayment, insufficient capital, low individual saving capacity, competition from other financial institutions, and discouragement from non-members.
The meeting also saw the election of Gad Mugabi as the new SACCO chairperson, succeeding Berns Karugaba, who recently resigned. Mugabi pledged to work collaboratively with SACCO members to achieve its development goals.
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