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 the Sacco’s Annual General meeting of Mabaga zone at Kebisoni Sub-county grounds in Rukungiri District.
According the Rev. Safari, Sacco members need to invest in productive and developmental businesses and they will 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 of the 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 representing 44%, a total 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 for 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 delegates 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’s the Regional manager for western region. Nyangalo, educated the members on the role of electing delegates. Among these; to save time and reduce overcrowding of members in the AGMs which ultimately will save time.
He highlighted that these delegates will make the work of the Bank more smoothly as member’s views will be promptly received as feedback, information on the day to day running of the Sacco’s business among others. He recalled that, previously some members had declined on the elect delegates 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 delegates who must be patriotic for the work of their Sacco, have a stake with valuable number of shares, should be none loan defaulters, Good mobilizer and rally people to join, Must save time for the Sacco and be knowledgeable with the Sacco and always obedient for the Sacco resolutions.
He reminded members that these delegates will be the ones to attend Annual general meetings but not all members as it has been previously. And emphasized that members’ recommendations will be forwarded to the AGM by the delegates 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 Sacco formulation. Members also thanked the board and the Sacco administration for the work done which has seen a total number of to 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 encouraged members to emulate him as an example. He however, urged the board to think of 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 reiterates the chairman’s call of investing in productive and developmental businesses that can improve their households. Members, later elected and submitted delegates from their respective cells and the will be the ones 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.
