SHEEMA, March 25, 2026 – Kigarama People’s SACCO [KIPS] has elected a new board to lead the financial institution for the next four years, following a successful 26th Annual General Meeting [AGM] held last week at Bugarama High School in Masheruka Town Council, Sheema district.
Mary Kamaduuka Bashongoka, Chairperson of the Vetting Committee, said the electoral process strictly adhered to the Cooperative Societies Act and the SACCO’s bylaws, ensuring a fair and credible outcome.
“I wish to thank members for entrusting us with the responsibility of vetting credible leaders for Kigarama People’s SACCO,” Bashongoka said. “Those who did not qualify have been given clear reasons for their rejection. The remaining positions will be decided by secret ballot to guarantee a smooth and transparent process.”
To strengthen the SACCO’s equity base, the Vetting Committee recommended a significant increase in the minimum share capital required for aspiring board members, citing a widening capital gap.
“We are proposing that the supreme meeting considers growing the SACCO through increased shareholding among board members and delegates,” she said. “For the Chairperson, the requirement has risen from 300 to 500 shares. For the Vice Chairperson, Treasurer and Secretary, it has increased from 200 to 400 shares, while board representatives must now hold at least 300 shares. This will ensure our leaders are fully invested in the institution’s growth.”
The elections were notably peaceful compared to previous years. Nuwaga Geofrey Grace Rukumbagaza [Chairman], Winfred Nabadah [Vice Chairperson], Maureen Nuwe Mauda [Treasurer], and Francis Didas Mande [Secretary] were all returned unopposed.
Bashongoka said the vetting process was rigorous and transparent. “All positions were advertised, and we committed to upholding integrity throughout. Only candidates who met the educational and shareholding requirements were shortlisted. If the SACCO is to grow to the next level, it must be led by individuals who meet these standards without compromise.”
Following his re-election, Chairman Rukumbagaza pledged to expand the SACCO’s portfolio to Shs 50 billion within the next four years.
“This AGM marks a major milestone, with peaceful elections conducted without disruption,” he said. “Given the quality and level of education within this team, I am confident we can grow our loan portfolio to Shs 15bln in the near term and ultimately reach at least Shs 50bln. We must also double our share capital to achieve meaningful self-sufficiency.”
Rukumbagaza, who has now served as chairman for 14 years, expressed gratitude for the continued confidence shown by members.
“I am honoured to be re-elected unopposed once again. It reflects the trust members have in my leadership,” he said. “This time, however, it is not just about me, the entire executive team has been returned unopposed. That demonstrates collective confidence in our ability to take Kigarama People’s SACCO to the next level.”
He also highlighted the academic strength of the new board. “I expect exceptional performance in this term. Over the past four years, savings have grown from Shs 3 billion to over Shs 10bl, while the loan portfolio has expanded by 250 percent to more than Shs 20bln. Today, every member of the board is highly educated, with the least qualified pursuing a Master’s degree. This is truly a board of Masters and PhDs.”
Rukumbagaza emphasised the need for member education on share capital. “Many members have savings but do not fully understand the importance of share capital. We have resolved to capitalise all profits and intensify member sensitisation through our branches. Our goal is to build sufficient internal capital to lend to members without relying on external borrowing.”
He also praised the Uhuru Institute for Social Development [TUI] after the SACCO emerged second runners-up in the 2025 Coop360° Innovations Award.
“The Uhuru Award was an unexpected but welcome achievement,” he said. “We have learnt valuable lessons and aim to emerge as the top performer next year. The Shs 10 million cash prize and two computers we received are already being utilised, beginning with our new Kampala branch.”
The AGM also featured debate over revised shareholding requirements. The Deputy Resident District Commissioner of Rwampara, speaking as a delegate, argued that the proposed 100-share threshold for delegates was too high.
“We have had constructive discussions, but as delegates we must also communicate these decisions to our members,” he said. “In my view, requiring 100 shares is excessive. A range of 10 to 50 shares would be more reasonable.”
However, the Chief Guest, Winston Asasira Kafurembe [District Commercial Officer–DCO, Sheema district], defended the higher threshold.
“Your reports show heavy reliance on external borrowing, about Shs 3 billion,” he said. “Bank of Uganda guidelines discourage this. SACCOs must build strong internal equity. A delegate holding only 10 shares cannot provide effective oversight. Without increasing share capital, you will struggle to sustain an institution of this size.”
Former DCO of Bushenyi, David Byamukama, called for greater transparency across branches.
“We need clear, separate accounts to track the performance of each branch,” he said. “No branch should survive at the expense of another. We must identify which projects are profitable and which are draining resources.”
Jemima Tumwijukye Buhanda, LCV Chairperson for Sheema District, urged members to view the SACCO as a financial safety net.
“Property can be difficult to liquidate in emergencies, but savings in a SACCO are readily accessible,” she said. “It is also far safer than keeping money at home. I urge borrowers to honour their repayment obligations—mismanagement or default can collapse a SACCO overnight.”
Juliet Kyosimiire, Chief Executive Officer of the SACCO, welcomed the composition of the new board.
“This is a highly competent leadership team with strong academic and professional credentials,” she said. “It positions the SACCO for accelerated growth. I also encourage women and young people to join and access affordable credit for income-generating activities.”
Leonard Okello, Chief Executive Officer of TUI, a social business enterprise that works with cooperatives in Uganda and beyond, reminded members of the cooperative movement’s core principles.
“Cooperatives are people-centred enterprises, and the member is paramount,” he said. “Every decision must deliver value to members. Strengthening share capital is essential to maintaining independence and long-term sustainability.”
Okello also commended KIPS for its performance in the 2025 Coop360° Innovations Award.
“This year’s competition focused on climate action, business innovation and improving member livelihoods,” he said. “Kigarama People’s SACCO impressed with its climate-focused loan products, finishing as second runners-up nationally. Innovation remains key to addressing members’ needs and driving growth.”
By the close of the AGM, delegates approved the opening of a Kampala branch, the reinvestment of all dividends into share capital, and a deduction of Shs 9,700 from each member’s account to acquire land for the SACCO’s headquarters.
External auditors from BMR Certified Associates warned that the SACCO’s share capital remains critically low.
“The capital contributed by members is still insufficient,” the auditors noted. “There is a need to intensify mobilisation through membership drives and share campaigns. Currently, share capital stands at about Shs 3.7 billion out of Shs 18bln in total assets—just 17 percent. This level of ownership is inadequate and must be increased to strengthen the institution.”
Background
Kigarama People’s SACCO was originally established as a public limited company with 24 members before being registered as a SACCO on April 11, 2005 in Kigarama Subcounty, Sheema District. It evolved from a farmer group [Matooke Twetungure Association] into a key driver of socio-economic transformation in western Uganda.
The SACCO now has 20,469 active members, total assets of Shs 19.82bln, a gross loan portfolio of Shs 15.15bln, share capital of about Shs 4bln, and dividends of Shs 510.56bln. It operates eight branches and five outreach centres across the districts of Ibanda, Kampala, Mbarara City, Sheema, and Sanga in Kiruhura.
https://thecooperator.news/members-flee-kigarama-peoples-sacco-over-leadership-squabbles/
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