VANESSA A
Rujumbura Restaurant Owners SACCO held its 5th Annual General Meeting at Christ the King Church Social Centre in Rukungiri Municipality.
The Rukungiri District Commercial Officer, Grace Tayebwa, thanked members for their hard work, noting that as the commercial office, they will ensure the SACCO gets seed capital if they apply. She urged members to embrace saving as a culture and avoid relying on only one source of income, emphasizing that cash flow is the lifeblood of any business.
She further appreciated members for saving with the SACCO and encouraged them to continue, noting that this will enable them to access more loans. She also urged them to utilize the office for results, buy shares, and remain committed to saving with the SACCO. She called upon the board chairman and the team to address loan defaulters and encouraged members to take full ownership of their SACCO.
The Vice Chairperson of the Board, Docus Akampurira, delivering remarks on behalf of the Chairman, Richard Musyogo, noted that the SACCO was established in 2020. She thanked members for working together as a team to grow the SACCO and for voting for the President of Uganda, H.E. Yoweri Kaguta Museveni, for a fifth term, recognizing his role in initiating the Emyooga program.
She also appreciated the Microfinance Office in Kabale for its continuous guidance. She highlighted that the SACCO has 15 groups with a total membership of 203, and urged all associations to become more active in growing the SACCO by buying shares, taking loans, and repaying them on time.
Akampurira further noted that the SACCO has achieved several milestones, including disbursing loans to associations and participating in workshops at constituency and district levels. However, she pointed out challenges such as loan defaulters, low uptake of loans among members, and limited working capital.
She added that future plans include reducing loan default cases, increasing the loan repayment period from 8 to 12 months, starting additional income-generating activities, and recruiting a SACCO worker.
In his closing remarks, the Chairman of the Board, Richard Musyogo, thanked members for their continued support. He urged them to carefully vet new members before admitting them into the SACCO to avoid cases of fraud or members disappearing with funds.
He also appreciated the Commercial Officer for her continued guidance, noting that it has helped in managing the SACCO effectively. He encouraged members to maintain unity to ensure the SACCO’s growth and affirmed his commitment to strengthening the SACCO. He concluded by thanking H.E. Yoweri Kaguta Museveni for initiating the program.
