Senior Reporter
The commendation of Ugandans for rejuvenating and embracing cooperatives that had collapsed in the 1980s due to poor leadership reflects a significant effort towards community development and economic stability.
Edgar Mbahamiza, the former Human Resource manager at Uganda National Bureau of Statistics, highlighted the historical significance of cooperatives like Banyankore Kweterana in the 1960s, which played a crucial role in supporting families to educate their children, many of whom are now serving the country in various capacities.
During the 23rd annual general meeting of Itojo Sub-county Sacco, held at St Joseph’s Catholic Church in Ruhaama County
, Ntungamo district, various speakers emphasized the importance of accountability, transparency, and cooperation within the cooperatives. Aryanyijuka Ezrah, the district commercial officer, stressed the need for the mobilization of new members to expand the reach of the Sacco.
Benon Musinguzi, the supervisor of SACCOs in Western Uganda, emphasized the importance of guarantors scrutinizing loan forms and the financial status of borrowers before signing for them. He underscored the responsibility of guarantors to ensure adherence to loan agreements and warned that guarantors would have to repay loans if borrowers default.
Mujuni Naboth Kwesigaabo, the chairperson of Itojo sub-county Sacco Ltd, highlighted the membership growth and pledged to continue efforts in education, mobilization, and sensitization to further expand Sacco’s outreach. However, Ndibarema wa Bitwabaabo, the chairman of Ntungamo district Saccos Union, condemned loan defaulters for hindering the development of Saccos in the district.
Various other speakers, including councilors, Sacco patrons, and local officials, reiterated the importance of transparency, cooperation, and accountability in addressing the challenges faced by cooperatives. Additionally, recognition was given to members who demonstrated good performance, further encouraging active participation and contribution to Sacco’s goals.
