NICHOLAS A
The Ntungamo District Commercial Officer, Sez Niwagaba, has challenged Ugandans to prioritize saving money and control their expenditure if they are to support President Museveni in the fight against poverty.
Niwagaba made the remarks while addressing members of Kashanda Tukore SACCO during their annual general meeting held at Kashanda Trading Centre in Rubare Sub-county, Ntungamo District.
He emphasized that President Museveni is committed to fighting poverty by ensuring household income through government programs such as the Parish Development Model (PDM), Emyooga, Uganda Women Entrepreneurship Program (UWEP), and Youth Livelihood Program. He urged Ugandans to embrace these initiatives and utilize the funds appropriately in line with program guidelines.
Tumwebaze Grant, the SACCO General Manager, reported that in 2024, the SACCO realized a profit of UGX 88 million, accumulated savings worth UGX 287 million, and a loan portfolio of UGX 576 million.
He added that in the same year, they opened a new branch in Kabungo, which he said is performing very well.
Amanya Ivan Rwanyakibare, the SACCO Board Chairperson, revealed that the SACCO now has 1,750 members. Due to the growing membership, they have adopted a delegation system, holding meetings with selected delegates instead of the entire membership.
He noted that under this new system, they are planning to establish zones including Kashanda, Kagugu, Kamahuri, Ruyonza, and Kabungo.
Amanya also disclosed that in 2023, the SACCO recorded a loss of UGX 67 million but hailed members for their compliance and commitment, which helped turn around the SACCO’s performance. He said the profit made in 2024 is a sign of steady progress.
During the meeting, Musiimire Nathan Parata was elected as the vice chairperson of the board. He pledged to work closely with other SACCO leaders to ensure that members overcome poverty.
