Milestone as Ankole Farmers and Traders SACCO marks silver jubilee
The event was dominated by renewed appeals from cooperative leaders urging the government to reconsider the regulation of large SACCOs under the Bank of Uganda...
MBARARA CITY, November 20, 2025 – Ankole Farmers and Traders Savings and Credit Cooperative Society [SACCO] Ltd celebrated its Silver Jubilee on Tuesday at University Inn, Mbarara City, bringing together more than 1,000 delegates representing SACCOs and over 60,000 members.
The event was dominated by renewed appeals from cooperative leaders urging the government to reconsider the regulation of large SACCOs under the Bank of Uganda [BoU], following amendments to the Cooperative Societies Act, 2022. Speakers argued that the current arrangement threatens the cooperative movement’s accessibility and independence.
Nathan Kateeba, Board Chairperson of the SACCO, called on lawmakers to keep SACCO oversight within the Ministry of Trade, Industry and Cooperatives [MTIC].
He warned that BoU’s regulatory requirements, such as collateral in the form of land titles or vehicle logbooks, risk excluding the SACCO’s largely rural membership.
“Most of our members do not have these documents to access loans,” Kateeba said. He added that transferring regulation to the BoU would introduce bureaucratic hurdles that undermine the cooperative model.
“We request that we remain under the Ministry of Trade, Industry and Cooperatives because they understand our challenges better. We have performed well under them, but if we are shifted to the Ministry of Finance, it will be difficult for us.”
Kateeba thanked the government for the 10-year corporate tax holiday granted to SACCOs since 2017, crediting it with enabling branch expansion and various corporate social responsibility [CSR] interventions. He pledged continued commitment to transforming the SACCO into a commercial bank.
“When I look at Ankole Farmers and Traders SACCO, I see a future. In a few years, with our members, we shall grow into a commercial bank, and that is when we shall qualify for regulation by the Bank of Uganda,” he said.
Vice Chairperson Merab Kansiime attributed the SACCO’s steady growth to transparent and trusted leadership.
“This SACCO has reached this level because of trustworthiness. Every member who deposited money found it safe,” she said.
Dr Sylvester Ndiroramukama, CEO of the Uganda Cooperative Savings and Credit Union [UCSCU], the apex body of the SACCOs in the country, warned that subjecting SACCOs to commercial banking rules would “destroy the cooperative model.” He noted that some BoU regulations could even restrict vital CSR activities.
“We advise the government that we want a single regulator for all SACCOs. Currently, we have three—Bank of Uganda, Ministry of Trade, and Ministry of Finance—all fighting to control one thing,” he said.
Mbarara City Woman Member of Parliament, Rita Bwahika, pledged to defend SACCOs in Parliament and oppose their placement under BoU oversight.
“One of the things I care deeply about is SACCOs, village saving groups and associations. SACCOs provide affordable loans unlike commercial banks,” she said. She also urged members to repay loans promptly to sustain operations.
Wycliffe Nahamya, CEO of Ankole Farmers and Traders SACCO, presented the institution’s growth journey since its founding on 17 November 2000 with just 30 members and Shs 1 million mobilised. The SACCO now has more than 60,000 members, a loan portfolio of Shs 36 billion, share capital of Shs 36 billion, and total savings of about Shs 21 billion.
“For 25 years we have operated, our members’ incomes have improved, and today we are giving back to the community,” he said.
The SACCO now operates 17 branches across Ankole, Kigezi, Toro and Buganda sub-regions, employing over 130 staff. As part of its CSR, it donated medical equipment worth more than Shs 150 million to 17 health centres and established 4 Stars Junior School in Mbarara City to support members struggling with school fees.
Nahamya reiterated calls for SACCOs to remain under MTIC. “There is no SACCO that has closed due to poor management. Why can’t they form a committee to oversee us instead of forcing us under the Bank of Uganda?” he asked, noting that large SACCOs such as Wazalendo and Uganda Parliamentary SACCO have resisted BoU regulation.
Former MP Moses Mugabe Kahima commended the SACCO’s leadership for 25 years of continuity but urged members to take ownership through regular saving and timely loan repayment.
In a message delivered by Jane Baguma, Minister of Trade, Industry and Cooperatives Francis Mwebesa congratulated the SACCO on its milestone and reaffirmed the Ministry’s commitment to strengthening the cooperative sector.
“This milestone reflects the determination of members who since 2000 have built a strong and reliable financial institution serving communities across Ankole, Toro, Kigezi and surrounding regions,” he said.
He encouraged the SACCO to embrace stronger governance, innovation and strategic investments, especially in agro-processing and local enterprise development.
The SACCO leadership concluded the event by reaffirming their long-term ambition to transition into a commercial bank, an evolution they say will justify BoU oversight only when the institution is fully developed.
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