Story by Aggrey Twesigye
SACCO leaders in Mbarara City have been urged to prioritize financial literacy education for their members as a crucial step toward improving loan utilization and reducing default rates.
The call was made by Believe Ampurire, the Commercial Officer for Mbarara City North Division, during the annual general meeting of the Mbarara City North Taxi Operators Emyooga SACCO held on Saturday at Rwebikona Taxi Park Grounds.
Ampurire noted that a lack of basic financial knowledge among some members has led to poor money management, with several struggling to repay loans due to inadequate planning and misuse of funds.
He emphasized the importance of continuous training to help members make informed financial decisions and grow their businesses sustainably.
Addressing the same meeting, Dickson Katwaza, the Assistant Resident City Commissioner (RCC) for Mbarara City North Division, encouraged the newly elected SACCO board to promote unity and teamwork as they lead.
He commended the SACCO members for effectively utilizing funds provided under the government’s Emyooga initiative, aimed at supporting income-generating activities.
Robert Nuwagaba, the SACCO chairperson, revealed that the board has resolved to expand membership beyond taxi operators, opening up to the general public in a bid to foster inclusivity and increase the SACCO’s financial base.
