Cooperatives & CommunitiesDevelopmentEast AfricaFinance & BankingNewsOrganisations

Aduku ‘Road Gang’ forms SACCO

Laborers employed to carry out road maintenance within Aduku town council, Kwania district, have formed a Savings and Credit Cooperative Society (SACCO).

The SACCO, dubbed “Aduku Town Council Road Gangs’ SACCO Limited,” officially launched on24th February 2021 with 74 members of the famous ‘Road Gang’, and has for its key objective to alleviate poverty by promoting savings and investment.

In a meeting held at Teduka ward in Aduku Town Council, on Wednesday members elected a full Board for the SACCO, and the new leadership took office with immediate effect.

Susan Kiza, a retired local nurse, was elected Chairperson, and Tonny Omunu, vice Chairperson. Tonny Onyera was voted Treasurer and Dorcus Acen, General Secretary.

Obaya Keny James, the Town Clerk of Aduku Town Council, and the immediate supervisor of the ‘Road Gang’ congratulated members upon the formation of the SACCO.

“Through the SACCO they will be able to raise capital to start or boost their other money-generating activities. As they wait for their monthly pay, they can borrow money from their Sacco at affordable interest rates. I congratulate them upon the initiative,” he said.

The SACCO’s newly elected Chairperson, Susan Kiza, called for commitment and sacrifice from members if the SACCO is to achieve its aims.

“One can save through starting an income-generating activity like hairdressing or even working on other people’s farms,” said, Kiza who currently owns 43 shares in the SACCO, each worth Shs 10,000.

Saving essential for investment

Patrick Bura, the Kwania District Commercial Officer, says that saving is one way to invest.

“Unfortunately, most rural farmers do not save, complaining about lack of an income base and the capacity to generate sustainable returns,” he said. 

Bura, who has embarked on sensitizing the public about the benefits of forming SACCOs, says that saving is a commitment that pays off eventually if there is effective leadership and management.

These sensitization efforts are already bearing fruit. Already, the bi-month sensitization sessions have seen the formation of four SACCOs Aduku Town Council, with the Road Gangs’ SACCO being the latest.

Kwania District Production Officer, Johnson Ojok, says SACCOs are the means through which a rural farmer can earn sustainably and develop a capacity for prosperity.

“Saving with a SACCO not only helps one keep their money safe, but also gives an opportunity to the saver to own shares in the SACCO and entitles them to dividends at the end of every financial year.”

Despite being employed in 2010 by Aduku town council, the majority of the members of the ‘Road Gang’, each of whom earns Shs 150,000 monthly, told theCooperator that they have till now been unable to save any of their earnings.

Lillian Ebic, a member of the SACCO, hopes that the initiative will help her meet her personal goals.

“I have been planning to construct a permanent house, but my dreams could not come true. I believe that in about two years, I will be able to accomplish this from my savings,” she said.

Membership in Aduku Town Council Road Gang SACCO is comprised of members from Ot-Ogole, Ogobi, Ikwera, and Bung-Teduka cells.

Buy your copy of thecooperator magazine from one of our  country- wide vending points or an e-copy on emag.thecooperator.news

Related Articles

Back to top button