SOROTI, September 17, 2025 – Teachers in Soroti district have formed a new Savings and Credit Cooperative Organisation [ SACCO ], with support from the Walimu Cooperative Union Limited [WCU], to help them access financial support under the Presidential Fund for Teachers.
The initiative is expected to boost the financial stability and overall well-being of teachers in the district by providing access to affordable credit and encouraging a culture of saving.
Florence Aloba, a teacher at Ojom Primary School, expressed her gratitude to the government for providing the revolving fund through WCU, which is accessed by teachers’ SACCOs at a favourable interest rate.
“I’m truly excited about the formation of this SACCO. For years, I’ve struggled with high-interest loans from multiple financial institutions, and it has been a heavy burden,” Aloba said.
Rose Asekenye, another primary school teacher, shared her optimism that the new SACCO would not only help her meet her family’s basic needs but also offer her greater financial independence through affordable loans that she intends use to generate more income.
“I look forward to accessing savings and credit services that are within my means. This will make a real difference in my life,” she remarked.
John Michael Okiror, Inspector of Schools in Soroti district, explained that the SACCO would enable teachers to access soft loans, thereby improving their socio-economic welfare.
“I have sensitised the teachers on how best to use these funds,” Okiror noted. He emphasised the importance of using the money productively, rather than spending it on consumption or non-essential expenses.
“We want teachers to borrow this money, invest it in profitable ventures, and then use the returns to meet their daily needs,” he added.
In the first phase, the government has disbursed Shs 500 million to each teachers’ SACCO, with plans to release an additional Shs 500mln across the country in the coming months.
Teachers can apply for the funds through a digital system that has been installed on their personal mobile phones, making the process faster and more accessible.
https://thecooperator.news/busoga-teachers-lag-behind-in-repaying-wcu-loans/
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