SHEEMA, March 30, 2025 – Politicians were among the local community members who thronged Sheema Stadium in Sheema district to witness the launch of a Savings and Credit Cooperative Society [SACCO] aimed at enhancing the financial standing of journalists in the district.
The interim board of the SACCO comprises: Isaac Zubail [Chairperson], Linda Nimurungi Edidah [Secretary], Carlison Ahimbisiibwe [Treasurer], Susan Arinaitwe [Member), and Samuel Akanyijuka [Member].
The supervisory committee includes: Bruno Mugizi, Gerald Tugume, and Joseph Nahamya, while the vetting committee consists of Micheal Atwakiire and Michael Muhumuza.
Isaac Zubail, Chairperson of the SACCO, known as Sheema Journalists Cooperative Society Limited [SHEJ], remarked during the launch that the cooperative would promote financial inclusion and empower journalists to achieve their economic goals.
“Our SACCO is built on the principles of solidarity, transparency, and accountability, with a primary goal of providing excellent and affordable financial services to our members,” Zubail said. “It is the intention of SACCO members to start saving for the future, and journalists will also be able to borrow from the SACCO to invest in commercial projects.”
Micheal Atwakiire, Chairperson of the Sheema Journalists Association [SHEJA], expressed his gratitude to fellow journalists in Sheema for uniting through the association and starting the SACCO.
“SHEJA is a unifying force of 42 journalists, and I am very pleased that, despite our limited resources, we have managed to establish a SACCO today,” Atwakiire said. He added, “It’s a shame that journalists, who educate communities about poverty, are often struggling financially themselves.”
Atwakiire also emphasized the importance of unity among journalists. “While reporting, we often encourage people to unite and work together, but how can we convey this message when we are divided? We cannot tell others to rise above poverty if we are not financially empowered ourselves.”
Though the SACCO was initiated by journalists, Atwakiire encouraged the people of Sheema to buy shares and save with SHEJ SACCO if they want it to succeed. He also appealed to established SACCOs in Sheema to support the newly launched journalist SACCO rather than competing with it.
He further highlighted the SACCO’s low-interest loans, with rates as low as 2 percent. “The difference between our SACCO and others is the low interest rate of just 2 percent, which we determined after assessing the issue of loan defaults caused by high interest rates,” Atwakiire noted.
He urged fellow journalists to embrace saving as a way to ensure financial growth. “As journalists, we are often seen as living a celebrity lifestyle, but spending recklessly in bars won’t make us great journalists. This is why we started this SACCO: to teach youth how to save and manage their finances,” he added.
Kafurembe Asasira, Sheema District Commercial Officer, confirmed that the SACCO had been granted probation registration [No. P.24305/RCS] by the Ministry of Trade, Industry and Cooperatives [MTIC].
“Today, we are launching Sheema Journalists SACCO, and I believe it will grow and celebrate its first anniversary,” Asasira said. “The SACCO’s members have contributed a share capital of Shs 5 million, and I am confident they will continue saving.”
Asasira also urged the interim board and management to focus on increasing membership and share capital, which are key to obtaining a permanent licence from the Registrar of Cooperatives after two years.
“A cooperative thrives on numbers. They need to mobilise more members, save more, and invest in shares because that is the capital that will help the SACCO grow,” Asasira added.
At the launch, Sam Orikunda, Sheema Deputy Resident District Commissioner, highlighted the misuse of funds from government programmes such as the Youth Livelihood Programme, Emyooga, and the Parish Development Model (PDM), which were intended to help different categories of Ugandans rise above poverty.
“Many youth squandered that money and disappeared from the areas they once lived in. I urge the journalists who have started this SACCO to ensure it is successful. This is your own initiative—make sure it doesn’t collapse. Let it thrive and serve its intended purpose,” Orikunda advised.
Eng. Brian Buhanda, General Manager of National Enterprise Corporation [NEC] and Chairman of NEC Football Club, urged SACCO managers to carefully evaluate financial proposals before issuing loans.
“Many SACCOs are doing well, such as Mushanga SACCO and Muhame Financial Services, and I encourage you to learn from them,” Buhanda said. “As journalists, you are the mouthpiece of the public. It’s absurd to hear of a journalist who is financially struggling. A journalist in financial distress is at risk of compromising their integrity, but this SACCO will provide a platform for you to develop.”
Buhanda further expressed his support for the SACCO, saying, “My prayer is to see this SACCO prosper and help the people of Sheema. I am passionate about working with youth, as you are the future of Uganda. I will always be there to support you.”
The SACCO launch was attended by politicians, medical professionals, local residents, bankers, musicians, senior citizens, and journalists. During the event, approximately Shs 20mln was raised. The day also featured a free medical camp and a football match, among other activities.
Sheema district, with a population of 250,000 people, is home to 125 active SACCOs, while Sheema Municipality boasts 45 SACCOs, bringing the total number to around 170 SACCOs.
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