Despite hard times, Ulleppi boda-boda SACCO registers profits
As Poor governance and regulatory issues continue to suffocate many Savings and Credit Cooperatives (SACCO) in Uganda, Ulleppi a youth SACCO has a different story to tell. Despite all the challenges the SACCO manages to register a profit for its member.
The Arua district based Cooperative was started in 2012 by a group of boda-boda riders as a small saving group but over the years they have grown into an established cooperative. Last month the cooperative pulled resources together and acquired a Noah that plies Arua-Nebbi road.
The chairman of the cooperative Joel Aniku says they are able to get 200,000 shillings per day from the transport business and this money adds to the group savings. John Adaku the sub-county chairman of Ullepi attributes the success of this cooperative to commitment among group members. He adds that the SACCO even performed well in the youth livelihood program as they have recovered half of the over 10 million shillings they borrowed two years ago.
The member of parliament upper Madi, Izaak Etuka has been supportive of this cooperative group. He always supports the group in case they organize fundraising campaigns to mobilize for resources to support some of their activities. The MP further argues that other Saccos and cooperatives in the country need do consultations and copy the examples of cooperatives that are doing well to lift them up. Ullepi has a total of thirty members and according to the group, they always meet regularly that’s once in a week at least to make plans.
