Simpson M
Addressing the members of Buyanja Sacco Limited at its 20th Annual General Meeting held at Kabale University Rukungiri Campus in Buyanja Town Council on March 9th, the Rukungiri District Commercial Officer, Mr. Edmund Kamanzi, emphasized the importance of investing in technology for enhanced safety and scaled-up services. He stressed that embracing technology could improve service delivery at a lower cost while ensuring safety.
Kamanzi highlighted that digitalization is becoming the norm, with a prediction of continued rapid migration to digital technologies in the future. He emphasized that adopting digital technologies is crucial for modernizing SACCOs.
He further explained that embracing the digital economy opens up opportunities for SACCOs. With technology, SACCOs can analyze member financial behavior and capacity to customize and enrich the portfolio of products and services offered.
Santrinah Nahwera, the councilor representing Buhunga Subcounty and the guest of honor, advised members to use loans acquired from SACCOs responsibly. She warned against misusing loans for luxury ventures and advocated for using borrowed funds profitably to avoid repayment challenges.
Nahwera discouraged multiple borrowing, citing the stress and depression it causes among members. She urged members to borrow reasonable amounts and utilize them wisely.
Olive Nayebare, the General Manager of Buyanja Sacco, expressed gratitude for SACCO’s growth since 2002 and encouraged members to support its development initiatives. She highlighted achievements such as the completion and commissioning of the second floor of the main branch building and the improved convenience and accessibility of SACCO services through digital platforms.
Nayebare announced that Buyanja Sacco had recruited 1,722 new members in 2023, bringing the total membership to 11,738. She invited members interested in partnering with Buyanja Sacco to access their range of loan and savings services easily.
She also addressed the issue of borrowers not adhering to payment schedules, which leads to increased provision costs and affects the surplus earned.
Several members were awarded gifts, including mattresses and money, as tokens of appreciation for their exemplary saving habits.
