SHEEMA, January 5, 2026 — Thousands of residents and political leaders gathered at Sheema Stadium earlier this week to witness the official launch of the Sheema Youth and Women Savings and Credit Cooperative Limited [SACCO], an initiative aimed at providing affordable credit to members who lack the collateral required by commercial banks.
The newly launched SACCO seeks to improve financial inclusion among youth and women by offering low-interest loans to support small-scale income-generating projects.
The interim board comprises Anita Ahereza [Chairperson], Didas Muhereza [Vice Chairperson], Ajara Nasibwa (Treasurer), Claire Nasasira [Manager), Andrew Mujuni [Chairperson, Supervisory Committee], and Sheila Nanyombi [Chairperson, Vetting Committee], among others.
The SACCO’s patron, Zeriba Nangumya, said the merger was prompted by the financial barriers faced by young people and women.
“Youth often lack collateral, which makes it very difficult for them to access bank loans to start projects,” he said. “Our goal was to unite and speak with one voice. For example, there are single mothers who struggle to feed three or four children, but when they come to our SACCO, we can offer a soft loan of about Shs300,000 at a modest interest rate of 1.5 percent.”
Nangumya noted that the SACCO, which started modestly, has grown to a capital base of Shs35 million with 203 registered members.
“As patron, I am committed to supporting this SACCO in every possible way. If it means mobilising resources from elsewhere, I will do so to ensure it grows to the level of other established SACCOs in Sheema,” he pledged.
He also called on the government to strengthen support for SACCOs as a strategy to address youth unemployment.
“If we support young people, we can reduce challenges such as drug abuse, crime, alcoholism, domestic violence and other social problems,” he said. “Unemployment remains a major issue, and SACCOs can help youth start small projects that grow into larger enterprises. If this SACCO expands, we are targeting to employ about 15 to 20 staff, which will directly increase job opportunities in Sheema district.”
SACCO Chairperson Anita Ahereza described the institution’s growth as organic, beginning from a small village savings group.
“We started as a small group saving just Shs2,000,” she said. “Later, we graduated to saving Shs50,000 per member over a year and managed to accumulate Shs1.5 million.”
Ahereza said the SACCO is an “eye-opener” for the district’s youth.
“With the Sheema Youth and Women SACCO, we believe no one will be left behind. This aligns with the President’s campaign for inclusive participation in the money economy, especially for those discouraged by high bank interest rates and demanding collateral requirements,” she explained.
Vice Chairperson Didas Muhereza Kyasebo urged residents within and outside Sheema to join the SACCO.
“As youth, we conceived the idea of forming a SACCO, but we decided not to limit it to young people alone. We included women so that they too can benefit,” he said. “Both youth and women are often left behind due to lack of capital. By coming together, we can be heard.”
He said the SACCO has already supported vendors, boda-boda riders and other informal workers, but appealed for further support to boost its capital base.
“We have many borrowers but limited capital. With support from well-wishers and government, we can empower youth and women, who are among the most marginalised groups in Uganda,” he said.
Muhereza also cited logistical challenges, including lack of equipment and transport.
“We do not yet have computers, adequate furniture or motorcycles to reach communities in the field. If the government could support us with even three motorcycles, it would greatly improve service delivery across Sheema District,” he added.
Kafurembe Winson Asasira, the Principal Commercial Officer for Sheema District, confirmed that the SACCO is lawfully registered under registration number P.26855/RCS. He cautioned members on the importance of loan recovery.
“Borrowing is easy, but repayment can be a struggle,” he warned.
He further explained the legal implications of registration.
“This SACCO is recognised by the government and has legal standing. It can sue or be sued in a court of law if necessary,” he said.
Asasira reminded the interim board that the SACCO’s certificate is provisional.
“A cooperative thrives on numbers. Members must be mobilised to save more and buy shares because that is what builds working capital,” he advised.
Political leaders also pledged support for the initiative. Peace Rugambwa, Senior Presidential Advisor in charge of Agriculture and Local People, donated Shs10 million to the SACCO.
“SACCOs are powerful tools for poverty eradication,” she said. “Many educated youth leave university without start-up capital, but through SACCOs, they can access affordable loans to begin viable projects.”
Sheema Municipality MP Dickson Kateshumbwa commended the youth and women for the initiative, noting that it aligns with national development priorities.
“As outlined in the NRM manifesto, the goal is to ensure everyone participates in the money economy. Supporting associations to form SACCOs is a deliberate government policy,” he said.
The SACCO currently supports several specialised groups, including the Rushoroza Youth Piggery Project, boda-boda associations and the Sheema United Ghetto People’s Association.
https://thecooperator.news/sheema-teachers-form-sacco-to-boost-their-financial-independence/
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