Prof. Kamuntu urges SACCO leaders to avoid internal conflicts for development
SHEEMA, March 17, 2025 – The Senior Presidential Advisor on Manifesto Implementation and Economic Affairs, Prof. Ephraim Kamuntu, has urged local Savings and Credit Cooperative Organisations [SACCOs] to avoid internal conflicts if they wish to thrive.
Kamuntu, who is also the Patron of the Sheema SACCOs Union, made the remarks on Thursday during the 22nd Annual General Meeting [AGM] of Bugongi SACCO, located in Bugongi Town Council, Sheema South Constituency.
As a cooperator, Kamuntu was instrumental in the formation of Bugongi SACCO, Shuuku SACCO, and Kitagata SACCO, all of which are based in Sheema South Constituency, and have transformed members’ livelihoods.
“We are now celebrating 23 years of existence for Bugongi SACCO. New members are joining with fresh ideas, and the SACCO has been providing loans that have enabled members to create wealth,” Kamuntu said.
He cautioned leaders and members that division within the SACCO could lead to its collapse.
“Nowadays, pre-AGMs are held before the actual AGM, and many decisions are made, but when we meet at the AGM, some delegates raise unnecessary questions. Even when you try to explain, they won’t accept. This is usually the first sign of a SACCO’s collapse due to mistrust,” Kamuntu explained.
“You find the vetting committee reading out election results, but members refuse to accept them. They might even refuse to re-elect the board because they no longer respect the rules and intentions of the SACCO,” Kamuntu added.
He challenged SACCO members to take responsibility for their SACCO, as they are the owners, and leave the day-to-day running to the board and management but also follow up what the leaders are doing in terms of transparency and accountability.
Kamuntu, an economist, encouraged SACCO members to continue saving to foster development in the area, emphasising that saving is essential for any SACCO’s growth.
“I want to urge you to save, because saving is the golden rule for wealth creation. There’s the 60/40 rule: it doesn’t matter how much you earn, if you get Shs 10, save Shs 6 and spend Shs 4. If you earn Shs 1 million, save Shs 600,000 and spend Shs 400,000. If you can’t manage that, at least save 50 percent and spend the other half, but don’t spend everything,” he said.
Kamuntu also appealed to members to use the loans they acquire from the SACCO wisely, so they can make a profit and repay the loans.
“Make sure you borrow wisely. Don’t borrow just for the sake of it. Before borrowing, consider whether your plan will generate a profit. Don’t borrow without knowing how you will use the loan,” Kamuntu emphasised.
The AGM ended successfully with delegates re-electing the board, the Supervisory Committee [SUPCO], and the Vetting Committee to lead the SACCO for the next four years.
According to Frank Nyerinde, Chairperson of the Vetting Committee, an increase in shares was recommended for anyone wishing to become a leader of the SACCO in the future.
“For Bugongi SACCO to develop, we have proposed an increase in shares: from 350 to 500 shares to become Board Chairperson or SUPCO Chairperson, 450 shares for a Treasurer, and 400 shares to become a Board Member. This will help strengthen the financial capacity of the SACCO,” Nyerinde explained.
The re-elected nine-member board includes: Ronald Tumusiime Emmy [Chairman], Nicholas Muhimbise [Treasurer], Elly Birokori Asiimwe [Secretary], Juliet Atwiine Kamatenesi [Vice Chairperson], Milton Koyekyenga [Member], Florence Mushaija [Member], Allen Mukundane [Member], Adrona Kanyesigye [Member], and Abias Nkwasibwe [Member].
The delegates also re-elected the Supervisory Committee [SUPCO], which comprises Denis Ashaba, Naboth Tumwine, and Jane Kobukazi Asiimwe, along with the Vetting Committee.
On his part, re-elected Chairman Ronald Tumusiime pledged total commitment and dedication to serving the members of Bugongi SACCO.
“Now that you have re-elected us, we promise that we will demonstrate our commitment. We will work for you and listen to you as we develop your SACCO,” Tumusiime stated.
Agasha Molly Muhwezi, General Manager of Bugongi SACCO, encouraged others to join the SACCO, saying this would help boost membership.
“I appeal to those who have not yet joined to do so, as we offer many loan products, such as school fees loans, agricultural loans, business loans, solar loans, and more,” Muhwezi added.
Bugongi SACCO, based in Bugongi Town Council in Sheema South Constituency, was established in 2002. Currently, the SACCO has 8,000 members, total assets of Shs 8.68 billion, share capital of Shs 1.87 billion, a loan portfolio of Shs 6.18 billion, and total dividends of Shs 440.36 million.
The SACCO operates three branches: Rwamabondo, Katonya, and Karera, as well as two outreaches: Murari and Kibingo.
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