DOKOLO, 27 April 2025 – The Dokolo North Welders’ Emyooga SACCO, based in Agebo A Cell, Amuda Central Ward, Agwata Town Council, has invested its additional seed capital of Shs 20 million into a new business venture – the hire of tents and chairs. The initiative is expected to strengthen the SACCO’s capital base.
The SACCO has acquired five tents, each to be hired out at Shs 50,000 per function, and 200 plastic chairs, to be rented at Shs 300 each. The funds were received from government in March 2025.
Bosco Ogwal, Chairperson of the SACCO, explained that the governing board decided to diversify their business operations after realising that loan disbursements alone were not yielding the expected profits.
“We want to grow the SACCO as quickly as possible, which is why we have launched this additional business of tent and chair hire,” Ogwal said. “We realised the returns from loans issued to members were modest. There’s a clear market for this service, as we’re the first to offer it locally.”
Ogwal added that they are specifically targeting clients within Agwata Town Council, as many residents currently travel as far as Lira City to access similar services.
So far, the SACCO has generated over Shs 500,000 from the new venture. Ogwal also revealed that three clients have already booked the tents and chairs for functions in May.
“People have started approaching us for this new service. Our savings are already improving, and with more bookings lined up, we are optimistic about the future,” he said.
When contacted for comment, Mable Nabadda, the Lira Zonal Manager at the Microfinance Support Centre [MSC], which provides funding to Emyooga SACCOs on behalf of government, stated that she was currently unavailable. “I’m unable to respond right now; I am in the middle of an engagement,” Nabadda said.
Mr Patrick Alyenyo, the Dokolo District Commercial Officer, commended the SACCO for its innovative approach and business diversification.
“Diversification is essential for SACCOs. They are not only meant to lend but also to do business, and this step shows they understand that principle well,” he stated.
https://thecooperator.news/dokolo-north-welders-emyooga-sacco-seed-capital-hits-shs-70mln/
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