Sebei Farmers’ SACCO holds 9th AGM, posts growth in membership, savings and loan portfolio
The developments were revealed during the SACCO’s Annual General Meeting [AGM], held at Pacific Hotel in Kapchorwa Town last Saturday
KAPCHORWA, April 22, 2026 — Sebei Farmers’ Savings and Credit Cooperative Organisation [SACCO] has recorded significant growth in membership, savings and its loan portfolio, reinforcing its position as a key financial pillar for communities in the Sebei Sub-region.
The developments were revealed during the SACCO’s Annual General Meeting [AGM], held at Pacific Hotel in Kapchorwa Town last Saturday.
The AGM brought together hundreds of members, leaders and stakeholders to review performance and discuss strategies for future growth. The meeting was officiated by the District Commercial Officer, Rev Ali Musani, who attended as Guest of Honour and commended the SACCO for its continued expansion and impact on livelihoods.
In his remarks, Musani praised the leadership for promoting financial discipline and nurturing a strong savings culture among members, noting that SACCOs remain vital in driving economic empowerment, particularly in Sebei.
“SACCOs are a powerful vehicle for economic transformation. When communities come together to save and borrow responsibly, they create real opportunities for growth and self-reliance,” he said.
Board Chairperson Festo Majinjach reported that membership had increased from 7,140 in 2024 to 7,519 in 2025, reflecting growing confidence in the institution and successful mobilisation efforts.
“This growth in membership shows that people trust the SACCO and recognise its value. We have continued to reach out to communities and sensitise them on the importance of saving and investing,” Majinjach said.
He added that the SACCO’s savings now stand at Shs 327 million, while the loan portfolio has grown to Shs 1.5 billion, demonstrating its expanding capacity to support members.
“Our loan portfolio of Shs 1.5 billion indicates that members are actively accessing credit to improve their livelihoods. That is the core purpose of the SACCO, to empower members economically,” he said.
The SACCO leadership attributed the positive performance to strengthened governance structures, improved financial management and ongoing financial literacy programmes aimed at equipping members with knowledge on saving and borrowing.
Chief Executive Officer Filex Kwemboi said the SACCO has continued to design loan products tailored to the needs of its diverse membership, including farmers, traders and youth groups. These products, he noted, have enabled members to invest in agriculture, small businesses and other income-generating activities.
“We are focused on providing affordable and flexible financial services. This has enabled many members to grow their businesses and improve their standards of living,” Kwemboi said.
Despite the strong performance, leaders acknowledged challenges, particularly in loan recovery and the rising demand for credit. Some members have delayed repayments, affecting the SACCO’s ability to extend services to others.
Majinjach urged members to remain disciplined and honour their loan obligations to sustain the SACCO’s growth.
“This SACCO belongs to all of us. Timely loan repayment is essential if we are to continue supporting one another,” he said.
Musani also encouraged members to use loans productively and avoid misuse of funds. He further urged the leadership to strengthen monitoring systems and expand services to reach more people, especially in underserved areas.
Members who attended the AGM expressed satisfaction with the SACCO’s progress, citing improved access to credit and savings services. Several shared testimonies of how the SACCO has helped them start businesses, invest in farming and meet family needs such as education.
Local leaders present commended the SACCO for contributing to economic development and poverty reduction in the region, urging members to continue supporting it through increased savings and active participation.
The AGM also provided a platform for members to raise concerns and suggest improvements. Key issues discussed included the need for better customer service, expansion of services and the introduction of more innovative financial products.
In response, the Board Chairperson assured members that their views would be considered in future planning, reaffirming the SACCO’s commitment to transparency, accountability and continuous improvement.
“As leaders, we remain committed to building a strong and sustainable SACCO that meets the needs of all members. We will continue to innovate and grow together,” he said.
The meeting concluded on a high note, with members expressing optimism about the SACCO’s future and confidence in its leadership. The growth in savings and the loan portfolio was seen as a clear indicator of progress and a strong foundation for further expansion.
As Sebei Farmers’ SACCO moves forward, leaders emphasised the importance of unity, financial discipline and collective responsibility in ensuring continued success and greater impact across the Sebei Sub-region.
https://thecooperator.news/sebei-cooperative-empowers-farmers-with-sustainable-incomes/
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