MBARARA — EBO SACCO Limited has crossed the Shs 120 billion asset mark, posting strong growth that leaders say underscores the benefits of central bank regulation for large cooperative financial institutions.
The SACCO’s total assets rose to Shs 120.6bln by December 2025, up 39.8 per cent from Shs 86.2 billion the previous year, driven largely by expansion in lending and growing member confidence.
Speaking at the SACCO’s 22nd Annual General Meeting held on Wednesday at Bwizi Gardens in Rwanyamahembe Town Council, Board Chairperson Rosette Kashaija Kazibwe described the performance as “tremendous growth” across all key indicators.
“Our total assets grew to Shs 120.6bln as of December 2025, up from Shs 86.2bln in 2024,” she said. “This growth is largely supported by a loan portfolio of Shs 89.9bln.
Deposits increased to Shs 50.3bln, while shareholders’ equity rose to Shs 23bln. Net profit stood at Shs 3.94bln, compared to Shs 2.96bln the previous year.”
EBO SACCO’s transition from a Tier 4 to a Tier 3 institution under a Bank of Uganda [BoU] licence has been cited as a major turning point, boosting investor and member confidence. Members’ savings are now covered by the Customer Deposit Protection Fund.
Kashaija said the move had unlocked new funding opportunities and partnerships.
“The licence has opened many doors. We are now attracting valuable partners and funders, while members have greater trust since their deposits are protected,” she said, citing support from government programmes, the Financial Sector Deepening Uganda [FSDU], the Office of the Prime Minister and the World Bank-backed GROW project.
The Chief Executive Officer Joseph Mugume Kazooba said the SACCO’s decision to comply with BoU regulation at a time when some cooperatives have resisted it, had improved access to affordable capital.
“Regulation is about compliance. We chose to work with the regulator rather than oppose the law,” he said. “Because of this, we have secured Shs 4.5bln under the GROW project for women and host communities, and we are finalising an Agriculture Credit Facility of up to Shs 10 billion. These funds are now reaching local farmers through us.”
Founded in 2002 as a small burial association with just Shs 15,000 in capital, EBO SACCO has grown into a regional financial institution with 19 branches across Ankole, Kigezi and Toro sub-regions. Plans are underway to expand into the Kampala Metropolitan area.
“We have a large membership base working in Kampala. A feasibility study has been completed, and we hope to open two branches there once approved by the Bank of Uganda,” Kashaija said.
The SACCO is also accelerating its digital transformation, having doubled mobile withdrawal limits from Shs 1 million to Shs 2mln. It is preparing to roll out mobile-based loan applications and a health-focused “host-cash” insurance product.
Guest speaker Paul Katende, chief executive of Soluti Finance East Africa Limited, praised EBO for setting a national benchmark and urged other SACCOs to embrace regulation.
“Regulation is a mark of credibility and maturity. Institutions with weak governance cannot attract serious funding,” he said. “EBO is no longer an ordinary SACCO; it is setting the standard.”
He cautioned, however, against complacency, warning that strong governance and integrity must be sustained to protect members’ savings.
“A licence is a commitment to excellence. Profitability can quickly turn into losses if discipline is lost,” Katende said.
Some members used the meeting to call for operational improvements, including the establishment of an in-house ATM network to reduce transaction costs and a simplified process for loan top-ups.
The AGM ended with members unanimously approving a share capital mobilisation drive, with many pledging to purchase additional shares priced at Shs 20,000 each to strengthen the SACCO’s capital base and reduce reliance on external borrowing.
Background
EBO SACCO, which began as a burial association in 2002 in Mbarara district, has grown to a membership of 13,533. It now holds assets worth Shs 120.6bln, share capital of Shs 23bln, savings of Shs 50.3bln and a loan portfolio of Shs 89.9bln. From humble beginnings operating out of a member’s home, the SACCO has evolved into a regulated financial institution under the Bank of Uganda, reflecting one of the sector’s most notable growth trajectories.
https://thecooperator.news/ucscu-let-down-as-ebo-sacco-opts-for-bou-regulation/
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