The Zonal Manager for Kabale at the Microfinance Support Center, Boaz Tuhumure, has urged financial institutions to remain vigilant in safeguarding people’s finances against cyber threats. Speaking at the 24th Annual General Meeting of Rubabo People’s SACCO, held at Nyarushanje Technical Institute in Nyarushanje sub-county, Rukungiri district, Tuhumure emphasized the increasing risk of cybercrime due to advancing technology, where malicious individuals exploit vulnerabilities to steal from financial institutions.
Tuhumure urged SACCO authorities to adopt robust systems like Savings Plus that offer better protection against cyberattacks. Joseph Turindwamukama, the Chairperson of Rubabo SACCO, highlighted their recent transition from a finance solutions system to the more secure Savings Plus system.
Meanwhile, Joan Nimwesiga, the General Manager of the SACCO, provided insights into its growth since its inception in 2000, stating a membership of 20,000 individuals, with fixed savings totaling two hundred eighty-two million and thirty thousand. Additionally, voluntary savings amounted to three billion, two hundred thirty-three million, three hundred eighty-eight thousand, four hundred and nine. The SACCO’s share capital stands at one billion, four hundred seventy-nine million, and twenty thousand, with a loan portfolio worth nine billion, six hundred sixty-six million, one hundred three thousand, four hundred fifty-five.
Keith Ainebyoona, the Commercial Officer of Rukungiri district, urged members to support their SACCO by increasing savings, borrowing responsibly, and ensuring timely repayment.
