NICHOLAS A
Rukungiri District Chief Administrative Officer, Hajj Swaliki Masokoi Wasswa, has attributed the prevailing poverty levels to laziness, emphasizing that a lack of effort is the root cause of financial struggles.
Masokoi made these remarks while addressing members of Rubabo People’s SACCO during their 25th Annual General Meeting held at Uganda Martyrs Institute Nyarushanje.
He underscored the importance of hard work in the fight against poverty, urging members to work diligently and cultivate a culture of saving for future prosperity.
Masokoi also discouraged wasteful behaviors such as alcoholism, adultery, and gambling, stating that such habits hinder financial growth, especially among the youth. He called on Ugandans to embrace unity and form associations that can drive economic empowerment, commending Rubabo People’s SACCO for its role in transforming lives.
According to Joseph Turindwamukama, the SACCO board chairperson, Rubabo People’s SACCO, which was founded in 1998, currently has a membership of 3,325 and a loan portfolio worth UGX 11 billion.
He highlighted the SACCO’s recent innovations, including the introduction of the “Bakyaara Tutungukye” loan product, which allows women to access loans without collateral.
Turindwamukama noted that the SACCO has undergone significant improvement under the current leadership, overcoming previous misunderstandings that had hindered its progress.
Joan Nimwesiga, the General Manager of Rubabo People’s SACCO, reaffirmed the institution’s commitment to fostering development in Rukungiri and Uganda at large. She stated that the SACCO continues to introduce loan products designed to combat poverty, such as Boda Boda loans, Bakyaara loans, and school fees loans, which help members improve their living standards.
Meanwhile, Rukungiri District Commercial Officer, Keith Ainebyoona, identified multiple borrowing as one of the major challenges leading to the collapse of many SACCOs. He explained that members often take loans from multiple SACCOs simultaneously, which increases the risk of loan default.
He urged SACCO members to utilize loans wisely and avoid borrowing for non-essential expenses.
Rubabo People’s SACCO is the second SACCO to hold its Annual General Meeting in 2025.
