FORT PORTAL CITY, June 25, 2025 –– In a bid to foster experience-sharing, innovation, and inclusive financing, the Uganda Cooperative Savings and Credit Union Limited [UCSCU] on Tuesday hosted the 4th Annual Regional SACCO Convention at Nyaika Hotel in Fort Portal City.
The convention brought together board members, supervisory and vetting committee members, and senior management from SACCOs across the Ankole, Kigezi, and Mid-Western sub-regions.
Held under the theme “Innovation and Adaptability in Contemporary SACCO Business,” the event served as a vital platform to explore the future of SACCOs through technology, innovation, and resilience.
In her opening remarks, Ritah Namyalo, UCSCU’s Training and Development Manager, highlighted the importance of collaboration, knowledge-sharing, and strategic planning in building sustainable SACCOs.
“By working together and leveraging each other’s strengths, SACCOs can drive growth, improve efficiency, and better serve their members,” Namyalo stated.
She encouraged SACCOs to take advantage of UCSCU’s consultancy services, which offer expert guidance to support operational effectiveness, attract value for money, and achieve long-term goals.
“By leveraging these resources, SACCOs can enhance their operations, mitigate risks, and improve overall performance,” she added.
Namyalo also emphasised the need for a holistic and inclusive approach to community transformation, one that enables SACCOs to foster meaningful change and sustainable development.
Throughout the convention, participants exchanged best practices, innovative strategies, and experiences aimed at strengthening the SACCO movement and improving institutional resilience. Key discussions focused on adapting to the evolving needs of members and implementing forward-looking strategies.
Emmanuel Fokushaba, Head of Marketing at Nyakayojo People’s SACCO, underscored the importance of youth inclusion in building sustainable financial cooperatives.
“To be truly inclusive, product development must cater to the unique needs of special interest groups, including youth, women, and Persons Living with Disabilities [PWDs],” he said. “This ensures services remain relevant and appealing to a diverse membership.”
John Bosco Atwijukire, General Manager of Kyamuhunga People’s SACCO [KYAPS], delivered a compelling presentation on cultivating a culture of innovation within SACCOs.
“Innovation goes beyond technology,” he noted. “It’s about developing new methods, products, and services driven by a future-oriented and values-based culture. Organisational culture, those shared beliefs and behaviours, plays a pivotal role in driving innovation.”
Dicky Byamukama, CEO of Lyamujungu SACCO Limited, shared success stories and innovations that have underpinned the SACCO’s growth since its founding in 1984. From just 16 founding members, Lyamujungu has expanded to over 44,000 members, with an asset base exceeding Shs 30 billion.
“Our key innovations include the Tuzikirane product, which offers financial support to bereaved families, and the Humura Loan, an interest-free facility for members who have lost close relatives, enabling them to avoid distress sales of assets,” Byamukama explained.
He also introduced a new hire-purchase loan tailored for corporate clients to finance income-generating assets, demonstrating Lyamujungu’s commitment to meeting diverse member needs.
Mercy Mastula Kusemererwa, General Manager of Busaiga SACCO, stressed the urgency for SACCOs to embrace innovation and adaptability in the digital era.
“SACCOs are operating in an era where staying competitive and relevant has never been more critical,” she said. “The digital age is reshaping how financial services are delivered, and member expectations are evolving rapidly.”
She warned that with banks and digital platforms redefining convenience and efficiency, SACCOs must reassess their strategies and prioritise innovation.
“In an age of smartphones and instant information, SACCO members are no longer seeking just basic financial services, they expect smart, responsible, and forward-thinking solutions,” she concluded.
The convention closed with a renewed call to action for SACCO leaders to embrace innovation, invest in digital transformation, and work collaboratively to ensure SACCOs remain key players in delivering inclusive and sustainable finance across Uganda.
https://thecooperator.news/regulating-large-saccos-ucscu-drags-bou-to-court/
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