The Secretary General of Uganda Cooperative Alliance Ivan Asiimwe has urged members of the Cooperative Movement to unite and work together so that they can push their organisations to greater heights because the Cooperative Societies are here to stay.
Asiimwe made the remarks while speaking as the Chief Guest at the 23rd Annual General Meeting for Kinkizi Development Financial Services also known as KIDEFISE Sacco which took place at Kanungu Catholic Social Center in Kanungu District.
Asiimwe observed that many Saccos across the country have failed to stand the test of time because the shareholders failed to get unite and work as a group and because of this some members want to enjoy the benefits accruing from the Organization without contributing to its growth by making savings, taking loans and buying more shares.
He said that, KIDEFISE Sacco is lucky to be having Tumuhimbise Deus as their General Manager because he is one of the senior Officers in the Banking sector having worked for Centenary Bank for many years and is well conversant with Cooperative Societies operations.
He commended KIDEFISE Sacco for introducing the AGM Delegates system which he said that is convenient and saves time but also asked the members who were elected as Delegates to always get back to the people they represent and sensitise them on the needs to strengthen the Sacco.
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He also congratulated the Sacco members for starting the ‘Bataka Social Development Scheme where each member will pay Ugx 5,000 per year to enable the Sacco contribute to a deceased members expenses.
Earlier, KIDEFISE Sacco Chairperson Innocent Atuhaire told the Annual General Meeting which was for the time composed of Delegates from the created Zones that the Sacco had made trendemous growth in the past year 2025.
Atuhaire said that KIDEFISE Sacco has increased its membership from 10,064 in 2024 to 11,447 in 2025 and it’s share capital rose from Ugx 2 billion to 2.3 billion in the same period while savings rose from Ugx 1.5 billion to 2.5 billion and loan portfolios rose from Ugx 5.7 billion to Ugx 7.4 billion in the same year.
He also said that the Sacco has completed the construction of Headoffice building, purchased motorcycles for its all branches in Mpungu, Butogota, Kihihi, Kambuga and main branch and fixed Ugx 900 million with Centenary Bank for 6 months where it will earn interest.
The members were told that due to good performances during the year 2025, each share will earn Ugx 5,532 and the members re elected Innocent Atuhaire as their Board Chairperson, Kyomuhendo Judith as Vice Chairperson and Francis Katureebe as the Member for Internal Audit and Supervisory Committee for the next 4 years.
Speaking at the same event, Kanungu Assistant Resident District Commissioner Emmy Magezi warned the KIDEFISE Sacco shareholders against multiple borrowing from other financial institutions saying this practice has made some members fail to service their loans.
He also warned Money Lenders to stop charging high interest rates from borrowers saying that such practice is against the law and is potentially aggressive to deprive the local people their properties.
After the meeting, a new KIDEFISE Headquarters building was officially opened and the General Manager Tumuhimbise Deus said that the premises will go a long way in helping the ever increasing members of the Sacco.
