MADFA SACCO opens seventh branch in Nakaseke district

NAKASEKE, July 27, 2026 — Residents of Ngoma Sub-county in Nakaseke district have been urged to embrace Savings and Credit Cooperative Organisations [SACCOs] to improve their savings culture and access affordable credit, following the opening of MADFA SACCO’s seventh branch in the area.

The call was made by the Nakaseke District Commercial Officer, Samuel Kyalimpa, while officiating at the launch of MADFA SACCO Ngoma Branch last Tuesday. Based in Masindi district, MADFA SACCO was established by members of Masindi District Farmers’ Association [MADFA].

Kyalimpa noted that Ngoma Town Council has no commercial bank, making the new SACCO branch a vital financial institution for residents.

He encouraged the community to save regularly and borrow responsibly in order to improve household incomes and promote sustainable development.

“MADFA has opened a branch here, and residents should make good use of it by saving regularly and borrowing responsibly for development,” Kyalimpa said.

He also challenged the MADFA Board to work closely with existing cooperative societies in the district to expand membership, noting that many members had previously travelled long distances to Masindi and Kiboga to access financial services.

The Manager of the MADFA SACCO Ngoma Branch, Nicholas Oyoma Sunday, said the opening of the new branch was in response to long-standing requests from residents who had previously travelled considerable distances to access financial services.

Oyoma explained that members from Ngoma had been travelling to Kijunjubwa in Masindi District to access SACCO services, a challenge that has now been addressed through the establishment of the new branch.

“The community has been appealing for a branch in their area, and we want to thank MADFA for responding to their request. Members have been travelling long distances to access services, but they have now been relieved. We assure them of efficient and better services,” he said.

He added that the branch will bring financial services closer to residents, making it easier for members to save, access loans and benefit from other SACCO products without the burden of long-distance travel.

The branch is expected to enhance financial inclusion and stimulate economic development in Ngoma Sub-county and the surrounding communities.

The Deputy Mayor of Ngoma Town Council, Shamirah Nalumega, welcomed the opening of the new branch but acknowledged that rebuilding public confidence in SACCOs remains a challenge after many residents lost millions of shillings to fraudulent savings schemes.

Nalumega, who is also a MADFA member, said that despite efforts to mobilise people to join the SACCO, many remain hesitant because of their previous experiences with collapsed and fraudulent savings schemes.

Meanwhile, the LC I Chairperson of Kiruli Zone, Ronald Muwanga, urged MADFA to intensify financial literacy campaigns to help borrowers invest loans productively and improve loan repayment.

“Residents are still nursing wounds after being scammed by different SACCOs. You should assure us that our money is safe and continue sensitising members on financial discipline because some people borrow money and divert it to unintended projects,” Muwanga said.

Responding to the concerns, the MADFA Chief Executive Officer, Bob Muzoora, assured residents that their savings are secure.

Muzoora said MADFA began as a Village Savings and Loan Association with only 30 members in 2005 and has since grown to more than 26,000 members.

He added that the SACCO is licensed by the Bank of Uganda and that members’ deposits are protected under Uganda’s Deposit Protection Fund.

He further explained that, as a member-owned financial institution, MADFA will hold a pre-Annual General Meeting (pre-AGM) for members in Ngoma before the main Annual General Meeting.

Muzoora said the SACCO’s mission is to improve livelihoods by supporting farmers and strengthening cooperative societies.

He also revealed that MADFA has partnered with Kigumba Cooperative College, enabling children of members to study at the institution on a half bursary.

The Nakaseke District MADFA Delegate, Musa Mulondwa, thanked the Board for establishing the branch, saying it would save members the inconvenience of travelling to Kijunjubwa Town Council and Masindi District for banking services.

“Members have been travelling long distances to deposit and withdraw money and to access loans, but now we are relieved because we have a branch here. MADFA is here to stay, and I assure residents that it has been serving members well in other areas,” Mulondwa said.

The Chairperson of the MADFA Board, Joseph Bazaale Aliguma, said the Ngoma office is the SACCO’s seventh branch, joining the existing branches in Masindi, Kiryandongo, Buliisa in Hoima District, Kijunjubwa, Hoima City and Kikuube District.

He said the expansion is intended to bring financial services closer to communities and thanked the Nakaseke District leadership for supporting the establishment of the SACCO’s operations in the area.

https://thecooperator.news/madfa-sacco-loan-portfolio-grows-39-percent/

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