KAMPALA, September 23, 2026 – The Bank of Uganda [ BoU ] has agreed to extend the deadline for licensing large Savings and Credit Cooperative Organisations [SACCOs] in the country from September 30, 2026, to March 2027, paving the way for further discussions with SACCO sector stakeholders.
The decision follows a meeting held today at the request of the Speaker of Parliament, Jacob Markson Oboth, and attended by representatives of BoU, the Uganda Cooperative Savings and Credit Union Limited [UCSCU], the national apex organisation for SACCOs, Uganda Cooperative Alliance [UCA], AND other stakeholders from government agencies and ministries.
The extension is expected to provide more time for consultations between the Central Bank and SACCO stakeholders on the licensing requirements and other legal concerns.
Large SACCOs in Uganda are those that hold voluntary savings exceeding Shs 1.5 billion and institutional capital of at least Shs 500 million. In licensing the targeted SACCOs BoU quotes the Microfinance Deposit-Taking Institutions Act, Cap. 58, together with the Micro-Finance Deposit-Taking Institutions [Registered Societies] Regulations, 2023.
Details on this story to follow soon.
https://thecooperator.news/bou-maintains-september-30-licensing-deadline-for-large-saccos/
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