Dokolo Emyooga SACCO approves share purchase to boost capital base
The resolution was adopted during the Annual General Meeting [AGM] held in recently and brought together representatives from the SACCO’s 10 member associations
DOKOLO, May 21, 2025 –– Leaders and members of the Dokolo North Welders Emyooga SACCO in Dokolo district have passed a resolution requiring each member to purchase a minimum of three shares this year. The move is aimed at strengthening the SACCO’s capital base and accelerating development for its members.
Each share is valued at Shs 20,000. With all 153 members participating, the SACCO stands to raise a total of Shs 9.18 million.
The resolution was adopted during the Annual General Meeting [AGM] held in recently and brought together representatives from the SACCO’s 10 member associations. These include: Amuda Parish Welders Association – 17 members; Bardyang Parish Welders’ Association; and Amuda Central Welders’ Association – 27 members
Others are Okwalo Gwen Parish Welders Association – 14 members; Amuda Eastern Welders Association – 18 members; Amuda Northern Welders Association – 12 members; Okwalo Gwen B Welders’ Association – 14 members and Amuda Central A Welders Association – 15 members
Bosco Ogwal, Chairperson of the SACCO, explained that shareholding had not been prioritised in the past, with most members focusing solely on savings.
“Most members have only been concentrating on buying savings, which does not generate much profit,” Ogwal said. “We have realised that the income being raised is insufficient to support members through loans. By investing in shares, the SACCO will become more financially independent.”
He added that funds raised through shares would supplement income from other SACCO ventures, creating a stronger financial base.
Moses Eric Atum, Chairperson of Bardyang Parish Welders Association, welcomed the resolution, stating that it would ease access to loans.
“Having each member purchase three shares will enhance the SACCO’s loan fund, making borrowing easier,” he noted.
Sam Otema, a member of Okwalo Gwen Parish Welders Association, praised the move, saying it would generate more income for both the SACCO and its members.
“This resolution will promote group development. Membership fees are an individual’s investment, so by contributing to shareholding, we all benefit,” Otema added.
Patrick Alyenyo, the Dokolo District Commercial Officer, commended the SACCO for its progress and urged members to remain committed to building both their personal finance and the SACCO’s prosperity.
“I want to thank you for being an exemplary SACCO in the Lango Sub-region,” Alyenyo said. “You are performing well, but I encourage you to aim even higher. Growth comes from active, business-minded members. Let’s ensure participation remains voluntary and focused on both personal and SACCO development.”
https://thecooperator.news/dokolo-north-welders-emyooga-sacco-seed-capital-hits-shs-70mln/
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