Coop3600 Innovations Award ignites competitiveness in Uganda’s cooperative sector
KAMPALA, March 16, 2024 –In a bustling atmosphere filled with anticipation and cooperative spirit,The Uhuru Institute for Social Development [TUI], together with her partners for the Coop3600 Innovations Award, hosted a riveting pitching event yesterday at Kabira Country Club where leaders from different cooperatives in central Uganda gathered to pitch their innovative ideas in spirited presentations.
The event was designed to enable cooperatives ,showcase their groundbreaking innovations across various industries. It brought together four cooperatives, from the central region of Uganda including, URA Staff SACCO, Mushana SACCO, Kibinge Coffee Farmers’ Co-operative Society, and Uganda Central Cooperative Financial Services [UCCFS].
One of the standout moments was the presentation by UCCFS, a cooperative established with the vision of providing financial services to a wide spectrum of cooperatives in Uganda, including apexes, unions, SACCOs, and primary societies among others. Since the closure of Uganda’s Cooperative Bank in May 1989, Uganda’s cooperative sector has lacked a central financial facility. UCCFS aspires to fill this gap in the future, serving as a pivotal centralised cooperative financial provider to bolster the country’s cooperative movement.
Although UCCFS initially focused on its core role, it has since expanded its scope to seek digital solutions tailored for cooperatives. Specifically, it now specialises in developing information and communication technology [ICT] solutions for SACCOs in Uganda.
UCFFS’s pitch unveiled their revolutionary ICT solution tailored specifically for Ugandan SACCOs. Their innovation promises to streamline operations, enhance efficiency, and foster greater financial inclusion within the cooperative finance sector.
“We developed a financial technology to ease transactions from members to the cooperative and vice versa because it is not viable to waste time travelling to the offices of the SACCO to do a simple transaction,” remarked Humphry Walusimbi, Head of ICT at the cooperative.
“Our aim is to empower SACCOs across Uganda with cutting-edge technology, ultimately driving economic growth and prosperity,” she added.
The judges, comprising industry experts, were impressed by the depth of innovation showcased by UCFFS and other participants. Each presentation offered a unique perspective on addressing challenges and opportunities within various sectors, from agriculture to healthcare to finance.
During the verification meeting with the cooperative before the pitching session, Michael Niyitegeka, one of the judges and an ICT expert, emphasised the importance of ensuring proper registration with the authorities.
He further emphasised the critical nature of cybersecurity challenges in the ICT sector, urging the cooperative to implement measures to mitigate cybersecurity risks. This proactive approach is vital to safeguarding members’ savings and preventing any potential breaches.
As the day drew to a close, Kibinge Coffee pitched their idea that for almost 10 years empowered the membership by ensuring increased quality and in the appropriate quantities of coffee supplied by the members to the cooperative.
According to Rogers Sserubumbwe, a manager at the cooperative, it identified elderly members who might struggle to maintain their coffee farms adequately, affecting the quality. Subsequently, the cooperative assigned a team of youthful individuals, supported by the cooperative, to assist and provide guidance to these members in addressing their challenges and developing solutions.
“Addressing the low productivity of coffee, we shifted our focus to a holistic seed to cup’ approach. By roasting coffee beans ourselves, we’re not just brewing a beverage but appreciating coffee as a vital part of our food culture, propelling us forward,” said Sserubumbwa.
Gabriel Kamuge, a seasoned cooperator serving as one of the judges, underscored the significance of enhancing the capacities of the cooperative members for long-term sustainability. He commended the cooperative for its approach and urged them to remain vigilant about future challenges that may impact their strategy.
“Kibinge should not remove the creativity of members completely and give them the impression that Kibinge will always do all the work for the members. They need to empower the members to manage and maintain their farms by themselves in the long run; farmers need to graduate into their own farm managers,” Kamuge said.
Considering their established presence in European and American markets, he recommended that, in the future, they should contemplate competing in the marketing and communications category. This strategic move could leverage their success in these markets and further enhance their brand visibility and outreach.
“Had they entered the marketing and communication category, they would have undoubtedly excelled, especially considering their successful penetration of the European market. It’s a missed opportunity that they should certainly consider for future competitions,” Kamuge said.
During the presentation of the innovative idea of Mushana SACCO, which also invests in land and farm management on behalf of Ugandan busy workers, on top of giving credit to members, Kamuge advised the SACCO not to deviate from its mission of giving loans to members, citing that it would be better for the cooperative to register as a multipurpose cooperative or develop the management project as the financial arm of the cooperative.
While acknowledging the disinterest of many youths in assuming responsibilities, the Uganda Revenue Authority Staff SACCO has devised strategies to incentivise youth towards marriage.
Speaking during the Kampala pitching event, Okello Leonard, CEO of TUI, said that the Innovations Award will change the way cooperatives in Uganda operate.
About the Coop 3600 Innovation AwardThe Innovations Award, a collaborative effort between the Uhuru Institute for Social Development and esteemed partners such as NTV Uganda, Bank of Uganda, Busara Centre for Behavioural Research, Goldstone, Spark TV, theCooperator, and Liberty Assurance, has been unveiled. This initiative is the first of its kind and seeks to foster competitiveness and stimulate creativity within Uganda’s cooperative sector, ultimately driving progress and innovation across various fields.
The Award is the first of its kind in the history of Uganda.
https://thecooperator.news/uhuru-partners-launch-coop360-network-innovations-awards-2023/
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