AINEMBABAZI V
Dr. Rutahigwa Elisa, Member of Parliament for Rukungiri Municipality, has called for full mobilization of SACCO members to ensure maximum participation in meetings. He emphasized that such engagements help members stay informed about new plans and opportunities within the SACCO.
Speaking at the 5th Annual General Meeting held today at Riverside, Dr. Rutahigwa assured the newly elected board of his full support in securing funds from the Microfinance Support Centre at lower interest rates. He also encouraged members to take advantage of government programs, particularly agricultural loans.
Musimenta Tom, a renowned entrepreneur and proprietor of Tom and Family Imported Furniture, was elected as the new Chairperson of the SACCO board. He expressed gratitude to the traders for entrusting him with leadership and pledged to work closely with his committee to foster SACCO growth.
He further committed to sensitizing traders who are not yet members about the benefits of joining the SACCO to increase membership and financial inclusion.
Outgoing Chairperson Byaruhanga Chrysostom , popularly known as Rwakana, highlighted the significant growth of the SACCO since its inception on April 14, 2019. Under his leadership, the SACCO expanded from 118 members with an initial capital of UGX 10 million to 254 members with UGX 277,247,494 in total funds and a recorded profit of UGX 36,130,672.
After serving for four years, he officially handed over leadership and urged the new board to work diligently to elevate the SACCO to even greater heights.
Grace Tayebwa, the Principal Commercial Officer of Rukungiri Municipal Council, encouraged members to take ownership of the SACCO, save consistently, and work together as a team. She stressed that tangible results can only be achieved through collective effort.
Kansime Boaz Matita, an aspiring mayor for Rukungiri Municipality, advised traders to seek guidance from technical experts, such as municipal commercial officers, on how to access low-interest loans from microfinance institutions. He cautioned against relying on commercial banks, which charge significantly higher interest rates.
Additionally, he urged traders to actively participate in politics to ensure they have a voice in financial accountability and decision-making, as they play a crucial role in the economic development of Rukungiri.
