NTUNGAMO, UGANDA – Ugandans have been encouraged to embrace cooperatives, which serve as vital engines for economic growth, poverty alleviation, and social transformation.
Thank you for reading this post, don't forget to subscribe!The appealing call was issued by Commissioner Hon. Stephen Tashobya while speaking as the chief guest at the 23rd Annual General Meeting of Kajara People’s Sacco Ltd, held at its Ntungamo Branch.
Tashobya underscored the pivotal role cooperatives play in improving livelihoods by enabling members to access financial resources and fostering inclusion among less privileged communities.
He described cooperatives as the foundation for sustainable economic development that empowers the ordinary person, thus urging leaders to uphold transparency and accountability.
The commissioner further cautioned that poor governance has led to the collapse of many financial institutions before they could even celebrate their first anniversary.
Tashobya further commended the founders of Kajara People’s Sacco Ltd for their visionary leadership and warned members against the dangers of loan default, which he noted undermines the collective strength of the institution.
The Board Chairman, Maj Gen (Rtd) Jim Wills Byarugaba, hailed the government for its continued support of Saccos, which he said have worked tirelessly to foster economic independence among Ugandans.
He confirmed that there has been unity over the past five years, a period that saw the Sacco recover from the brink of collapse caused by previous poor governance and mismanagement by stakeholders.
Byarugaba further noted that due to improved mobilization and service delivery, Kajara People’s Sacco has successfully recruited 741 new members, bringing the current membership to 7,356.
The Sacco’s General Manager, Akamukwatsa Yusufu, revealed that the Sacco has experienced steady growth over its 24 years of existence, attributing this success to consistent growth in savings and share capital.
He expressed gratitude to the board, staff, and members for their resilience and hard work, which have enabled the institution to thrive despite numerous challenges.
Akamukwatsa pledged to enhance monitoring efforts, as well as mobilization for working capital and membership, to sustain the Sacco’s upward trajectory.
Kajara People’s Sacco Ltd, which was established in 2002, currently operates five branches: Ntungamo Municipality, Kafunjo-Mirama, Omukiyenje-Bwanga, Rwamabondo, and its main branch in Rwashamaire.
The event also featured remarks from other key speakers, including Nyakatukura Geoffrey (District Commercial Officer), Kwesigamukama Ezra (Chairperson of the Supervisory Committee), and Amutusimire Patience (Branch Manager).
Together with Twinomujuni Dan, they echoed the call for continued unity, prudent financial management, and dedication to the Sacco’s founding principles.
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