BUSHENYI, November 2, 2026 — Butuuro Financial Services Limited [Butuuro SACCO] has set a target of Shs 3.6 billion in cumulative net profit by the end of December, after exceeding its nine-month profit target by more than Shs 98 million.
The target was announced during a one-day leadership retreat held last week at Kituuzi Highway Point in Bushenyi district, bringing together the SACCO’s Board of Directors, supervisory committee members, senior management and regional leaders to review performance and agree on strategies for the remainder of the financial year.
Butuuro SACCO Board Chairman Jenan Mukaira said the cooperative had recorded steady growth despite what he described as a challenging economic environment characterised by inflation and liquidity constraints affecting tier-4 financial institutions.
Mukaira said the SACCO’s cumulative net profit had reached Shs 2.64bln as of October 28, 2026, putting the institution on course to achieve its Shs 3.6bln year-end target.
“I am happy to report to our stakeholders that despite a hostile economic environment, Butuuro SACCO is growing steadily,” Mukaira said.
“In the last nine months, our net profit exceeded our target by over Shs 98mln. As of October 28, 2026, our cumulative net profit stands at Shs 2.64bln, and we are working towards our ultimate goal of reaching Shs 3.6bln by December 2026.”
The retreat focused on measures to expand the SACCO’s asset base, reduce non-performing loans, cut reliance on costly external bank borrowing and strengthen digital financial services for members across the Greater Bushenyi sub-region.
Mukaira commended the SACCO’s governance organs and technical staff for their contribution to the performance, saying the institution would maintain its focus on financial sustainability as it pursues the year-end target.
The meeting also provided an opportunity for the leadership to assess operational challenges, review the SACCO’s nine-month performance indicators and establish priorities for the final months of 2026.
Government calls for sound governance
Bushenyi Deputy Resident District Commissioner [RDC] Donanta Katsigazi commended Butuuro SACCO for its governance practices and urged financial cooperatives to strengthen internal controls and transparency to protect members’ savings.
Katsigazi said well-managed SACCOs have an important role in supporting government programmes aimed at improving household incomes, including the Parish Development Model [PDM] and Emyooga.
“Financial cooperatives like Butuuro SACCO serve as the backbone of rural economic transformation,” Katsigazi said.
“When SACCO management demonstrates operational discipline and transparency, it builds public trust, encourages voluntary savings, and protects member capital from financial risks.”
Bushenyi-Ishaka Municipality Commercial Officer Aggrey Ategyeka said regular institutional reviews were important in identifying financial and governance risks before they affected operations.
“Strategic retreats of this nature allow leadership to identify portfolio risks early,” Ategyeka said.
“By continuously evaluating financial health and service delivery, Butuuro SACCO is demonstrating the institutional maturity required to remain competitive, maintain liquidity and serve its members effectively.”
Focus on member services
Butuuro SACCO Patron Pison Mugizi urged the leadership to ensure that the cooperative’s financial performance translates into tangible benefits for members, particularly smallholder farmers, informal traders and women entrepreneurs.
Mugizi said the SACCO should continue providing affordable credit while improving returns to members through dividends.
“Our primary mandate remains empowering our local communities,” Mugizi said.
“The financial success we celebrate today must reflect in the growth of our members’ enterprises. As we work towards our end-of-year financial targets, our focus must remain fixed on delivering affordable, accessible and reliable financial solutions to every member.”
The retreat was also attended by Buhweju District LCV Chairperson Deo Atuhaire and board delegates representing various branch networks across Western Uganda.
As the year draws to a close, Butuuro SACCO said it plans to introduce customised loan products, expand digital banking services and conduct financial literacy campaigns in its areas of operation as part of efforts to strengthen member businesses and improve financial inclusion.
https://thecooperator.news/butuuro-sacco-registers-strong-performance-in-2024/
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