Kebisoni Sacco members told to invest in productive businesses that will improve their households

RUKUNGIRI – Members of Kebisoni Co-operative Saving and Credit Society Ltd have been told to invest in productive businesses that will improve their households. This call was made by Rev. Fr. (Rtd) Emmanuel Safari who doubles as Sacco’s Chairperson. Fr. Safari made the call while officiating at the Sacco’s Annual General meeting of Mabaga zone at Kebisoni Sub-county grounds in Rukungiri District.

According to Rev. Safari, Sacco members need to invest in productive and developmental businesses so as harness profits that will in turn improve their households. Adding that, this has been a big call by the President of Uganda HE. Yoweri Kaguta Museveni for several years.

He explained that from their research as Board members, only one out of ten (⅒) of  business community save their money in Kebisoni Sacco. Noting it as a big challenge to household development and income. He however thanked the area manager for the great work in mobilising and rallying members to have more shares which have increased tremendously and further encouraged them to buy more as a way of investing for the future of their children.

Fr. Safari also informed members that the Sacco has registered a number of  achievements in the previous financial year that included; the increase of share capital from 1.72B – 2.2B, loan portfolio from 6.4B – 9.3B thus representing 44%, a tatol savings of 3.7B from 2.8B and 800m credit facility from Microfinance Support Center (MSC).

Notwithstanding, he reminded members that more of this financial performance will be released after the report from a team of External financial auditors. Whereas in his conclusion, Fr. Safari noted that the major activity of the day was to elect representatives who will double as deligates to the incoming annual general meetings ahead.

The Sacco’s annual general meeting was also attended by Mr. Collins Nyangalo as the chief guest from Uganda co-operative Union and he is the Regional manager for western region. Nyangalo, educated the members on the role of electing deligates. Among these; to save time and reduce on overcrowding of members in the AGMs which ultimately will save time.

He highlighted that these deligates will make the work of the Bank more smooth as member’s views will be promptly received as feedbacks, information on the day to day running of the Sacco’s business among others. He recalled that previously, some members had declined on electing deligates but thanked them for agreeing to adopt this as a modern system of democratic representation. Adding that this is a small team but with quick delivery.

He further, encouraged members to elect deligates who must be partriotic for the work of their Sacco, have a stake with valuable number of shares, should be none loan defaulters, good mobilizer, rally people to join, must save time for the Sacco and be knowledgeable with the Sacco and always obdiant for the Sacco resolutions.

He reminded members that these deligates will be the ones to attend Annual general meetings but not all members as it has been previously. And emphasissed that members recommendations will be forwarded to the AGM by the deligates and when passed, will be the Sacco’s resolutions.

Through the Sacco’s secretary general Mr. Evarist Mubangizi, members appreciated their guest of honour for  imparting them with his expertise and knew systems of representation. Noting that indeed these were not formed by board members but rather a general policy in the Saccos formulation. Members also thanked the board and the Sacco administration for the work done which has seen a total number increase up to 8065.

The event was also graced by the area LC 3 Chairperson Mr. Charles Kahanyi, together with his Sub-county chief. In his remarks, Kahanyi conveyed a vote of thanks to Fr. Safari’s personality and encouraged members to emulate him as an example. He however urged the board to think dividing Mabaga zone into two zones such that they can downscale service delivery to the people of Mitooma district and Buhunga Sub-county.

According to him,  this can be done by putting a branch in either Buhunga or Mayanga, hence creating another avenue of getting more members. He also reiterate chairman’s call of investing in productive and developmental businesses that can improve their households. Members, later elected and submitted deligates from their respective cells and the will be the one’s to attend Annual general meetings.

Kebisoni Sacco was established as a savings and credit cooperative society in 2001 by the community around Kebisoni Trading centre in Rukungiri District. It has since been registered as cooperative society No. 6397, with members from different districts including; Rukungiri, Mitooma, Ntungamo Districts and with a steady growing number of members in Kampala City.