Residents of Rubona Town Council in Bunyangabu District have been encouraged to join Savings and Credit Cooperative Organizations (SACCOs) as a strategy to improve their livelihoods.
The call was made by Katoge George Williams, Manager of Bunyangabu and Kabarole Route Transporters SACCO (BUKATRA), during the SACCO’s Annual General Meeting (AGM) held on Tuesday afternoon in Rubona Town Council.
Katoge emphasized that joining SACCOs enables individuals to access financial services, improve savings habits, and enhance economic stability. He also revealed that BUKATRA SACCO has plans to expand its operations by opening new branches in Mugusu Town Council in Kabarole District and Nyakigumba Town Council in Bunyangabu District, as well as extending services to more villages.
Meanwhile, the Manager of Pearl Bank, Barozi Rodger, pledged support towards the SACCO’s growth by introducing a new accounting system and the Wendi digital platform to streamline operations and improve efficiency.
Speaking at the same event, the Chairperson of BUKATRA SACCO, Tinka Francis, provided a brief history of the organization. He explained that the SACCO was established in 2015 with 40 members under the name Bunyangabu Kabarole Drivers, Brokers and Lorry Owners Cooperative Society. Initially, it focused on transport-related activities, including collecting revenue from tendered markets.
However, after six years, the leadership observed a decline in membership as some drivers and brokers left the SACCO. This prompted a strategic shift towards transforming it into a savings and credit cooperative to better serve a broader membership base.
Tinka noted that the SACCO has since grown significantly and now boasts 218 members. He further revealed ambitious plans to upgrade the SACCO into a fully-fledged bank in Rubona Town Council, marking a major milestone in its development.
