Mugabe R
Rotarian Steven Nsubuga Bewayo, the Resident District Commissioner of Rukungiri, encouraged SACCO operators to prioritize quality over quantity during his speech at the 18th Annual Delegates General Meeting held at Riverside Hotel in Eastern Division, Rukungiri Municipality on Saturday, March 2nd, 2024.
Bewayo emphasized the importance of focusing on the active utilization of SACCO resources by a moderate number of members rather than aiming for large membership numbers that may result in confusion and inefficiency. He cited examples of SACCOs he had visited that focused on a limited but engaged membership, which led to successful side investments and overall better impact.
Ms. Atuhaire Caroline, the Senior Commercial Officer of Rukungiri District, commended the steady growth of Nyakibale SACCO. She urged members to prioritize the holistic development of the SACCO rather than individual gains. She also highlighted the need for management to address emerging challenges such as cyber scams affecting financial institutions.
Mr. Mpirirwe Aloysius, the Chairperson of the Board of Nyakibale SACCO, expressed gratitude for the organization’s development, including an increase in membership and trust among members. However, he also mentioned several challenges affecting operations, including delays in loan repayments, a culture of low savings, dormant accounts, and limited shares.
Lion Byarugaba Cornelius, the Chairperson of the Supervisory Committee, reassured members that Nyakibale SACCO is experiencing rapid growth. He emphasized the importance of member education and sensitization to promote a savings culture, increase shareholding, and ensure proper utilization of SACCO resources while eliminating dormant accounts and multiple borrowers. He noted that the current development is driven by a small percentage of members.
Nyakibale SACCO currently boasts a membership of 8,691 individuals, groups, and institutions.
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