KAMPALA, September 27, 2025 – Leading players in Uganda’s Savings and Credit Cooperative Organisations [ SACCOs ] sector have called on their peers to invest in innovative approaches that go beyond financial services and positively transform the lives of their members.
This call comes at a time when SACCOs are seeking new ways to improve members’ livelihoods, especially those who rely on loans to sustain their livelihoods.
The appeal was made on Thursday at Hotel Africana in Kampala, during the 10th Annual National SACCO Conference that also saw the SACCO apex body, the Uganda Credit and Savings Cooperative Union [UCSCU] mark 50 years of existence.
Mushanga SACCO: Innovating through health insurance
Speaking at the conference, Mushanga SACCO Board Chairperson, Silva Bafaaki revealed that the organisation had conducted a survey to evaluate its impact after noting a concerning trend of increasing member deaths.
“During our Annual General Meetings, we realised we were reporting an average of 30 member deaths per year. Many were dying from conditions like high blood pressure, diabetes, and malaria,” Bafaaki shared.
In response, the SACCO partnered with credible health facilities to offer treatment without upfront payment. Under a health insurance arrangement, payments are later deducted from members’ savings, easing the financial burden during medical emergencies.
“This initiative has relieved our members from the stress of medical bills, improved their wellbeing, and enhanced the SACCO’s image among the community,” he said.
Mushanga SACCO currently boasts: Share capital: Shs 16 billion; Savings portfolio: Shs 38 billion; and Loans portfolio: Shs 64 billion
Over the next five years, it aims to grow to: Share capital: Shs 41 billion; Savings portfolio: Shs 97 billion; Loans portfolio: Shs 161 billion; Membership: From 62,587 to 106,398 members.
Wazalendo SACCO opens estate scheme to civilian SACCO members
In a bold move to innovate and collaborate, Wazalendo SACCO has extended access to its Nyumba Loan Scheme to members of other SACCOs, opening new housing opportunities across Uganda.
Previously available only to members of the Uganda People’s Defence Forces [UPDF] and their families, the estate scheme enables members to access land loans, with separate arrangements for construction materials.
Col Yusuf Magero Buha, the Wazalendo SACCO CEO, announced the change during the UCSCU conference: “We’ve now opened our Nyumba Loan Facility to the entire SACCO sector. Members can access it through recommendations from their respective SACCOs. We’ve partnered with several SACCOs to make land ownership more accessible.”
Wazalendo currently offers plots at: Kavule [Matugga–Semuto Road]; Bulamu [Kampala–Mityana Road]; Namayiba [Mukono] Prices range between Shs 19 million and Shs 25 million.
The move follows limited uptake from within Wazalendo’s own membership, which includes UPDF personnel, their spouses and children, and Ministry of Defence staff.
Now celebrating 20 years of existence, Wazalendo SACCO reports impressive figures: Share capital: Shs 340.5 billion; Loan portfolio: Shs 992.4 billion; Total deposits: Shs 617.2 billion; Total assets: Shs 1.27 trillion; Liabilities: Shs 693.2 billion; Equity and reserves: Shs 577.2 billion.
Steadfin SACCO: Innovation in the face of crisis
Meanwhile, Steadfin SACCO, which serves staff from various US agencies operating in Uganda – including USAID, the CDC, NIH, and Peace Corps – has had to navigate serious challenges, particularly following the scaling down of USAID operations in the country.
Mercy Tumukunde, the SACCO Manager, explained how the budget and staff cuts led to a sharp drop in membership, and even loss of life among members.
“We lost several members after USAID closed. Some died, others were involved in accidents, and many were emotionally affected. We had to bring in counsellors to support our members through this crisis,” she said.
Despite the setbacks, Steadfin, based in Nsambya, has stayed afloat by adopting innovative strategies and forming strong partnerships.
Key statistics for Steadfin include: Membership: 1,300; Share capital: Shs 7 billion; Loan portfolio: Shs 36 billion; Asset base: Shs 54 billion
A Call for SACCOs to lead beyond finance
As Uganda’s SACCO sector matures, institutions like Mushanga, Wazalendo, and Steadfin are showing the value of extending their impact beyond basic savings and loans. Their innovations in health, housing, and crisis response are setting new benchmarks for what financial cooperatives can achieve when they focus on the holistic wellbeing of their members.
https://thecooperator.news/fsd-uganda-grants-mushanga-sacco-shs-6-2bln-for-vulnerable-groups/
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