MICHAEL K
Kajara People’s SACCO has successfully held its 23rd Annual General Meeting, bringing together members and leaders to reflect on performance and future growth strategies.
The meeting, held on 21st March 2026 at the Ntungamo Branch, emphasized the need for members to strengthen their saving culture and increase shareholding as a way of boosting the SACCO’s sustainability.
The Chief Guest, former Kajara County Member of Parliament and Electoral Commissioner, Steven Tashobya, commended the SACCO’s management for its steady growth. He urged members to live within their means, take manageable loans, and prioritize saving. He also advised that loans should only supplement business capital rather than serve as the primary source of funding.
The General Manager, Mr. Akamukwasa Yusuf, outlined several challenges affecting the SACCO, including a weak saving culture, loan recovery rates below 85 percent, multiple borrowing, and poor utilization of loans. Despite these challenges, he reported notable progress, including a reduction in lending interest rates from 3 percent to 2.5 percent and an 11.6 percent increase in membership.
Financially, the SACCO recorded significant growth, with member savings rising from Shs 3.46 billion in 2024 to Shs 6.30 billion, while the loan portfolio increased from Shs 3.44 billion to Shs 5.26 billion in 2025. The SACCO also registered profits exceeding Shs 300 million.
Board Chairman, Rtd. Maj. Gen. Jim Wills Byarugaba, attributed the institution’s rapid growth to the trustworthiness of its management team and encouraged members to invest more through increased savings and share purchases.
The Ntungamo District Commercial Officer, Mr. Geofrey Nyakatukura, praised the SACCO for adhering to cooperative guidelines but noted persistent challenges in the sector, particularly loan default and multiple borrowing.
