Adjumani SACCO acquires tractors as total assets rise to Shs 18bln
Established in 2007 with only 139 members, the SACCO now has 15,593 members, with women and youth forming the majority
ADJUMANI, May 1, 2025 –– Adjumani Town Council Cooperative Savings and Credit Society [SACCO] Ltd. has acquired three tractors valued at Shs 510 million. The purchase was made possible through Islamic financing provided by the Microfinance Support Centre [MSC], as part of a loan package that boosted the SACCO’s total assets to Shs 18.2 billion in 2024, up from Shs 10.2 bln in 2023.
Established in 2007 with only 139 members, the SACCO now has 15,593 members, with women and youth forming the majority.
Board Chairperson Lawrence Managapi described the acquisition of the tractors as a significant step towards economic empowerment, particularly for women.
“This growth reflects our commitment to sound financial practices. We are focused on helping our members achieve their financial goals. Our performance in 2024 has enhanced the SACCO’s sustainability and enabled us to reinvest in our members,” Managapi said.
He highlighted the SACCO’s steady growth over the years, from assets of Shs 12.5 million in 2007 to Shs 2.3bln in 2015, Shs 14.6bln in 2023, and now Shs 18.2bln by December 2024.
SACCO member, James Dramoyo stressed the importance of building staff capacity to manage the growing funds, suggesting that plans to purchase a vehicle be postponed in favour of staff development.
Echoing this sentiment, fellow member Consulate Chandia advocated for prioritising staff welfare and training as a strategy to prevent corruption. “We had planned to buy a vehicle last year, but due to budget constraints, we couldn’t. Let’s instead prioritise staff training and welfare,” she advised.
Ronald Waiswa, Zonal Manager of the MSC, commended the SACCO for its role in local economic development. He encouraged members to save regularly, borrow responsibly, repay loans promptly, and increase their shareholding.
He also recommended establishing a compliance department to implement audit recommendations and ensure proper utilisation of the tractors to combat food insecurity.
External auditor Patrick Ochaya of Exodus Certified Public Accountants urged the SACCO to focus on growing member shares, which he said should have reached at least Shs 1 billion by now. He also emphasised the need for better loan recovery, stronger internal controls, and sustainable long-term planning.
Adjumani District LCV Chairperson, Ben Anyama, remarked that the town council is steadily evolving into a strong, community-founded financial institution within the region.
He advised members to borrow for productive, income-generating purposes rather than for personal matters such as marriage.
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