RUKUNGIRI- Kebisoni Savings and Credit Society Ltd commonly known as Kebisoni SACCO has today officially opened the 4th Branch in Rukungiri Municipality in a bid aimed at taking services closer to the increasing number of shareholders and clients in the area.
According to the Chairman of Kebisoni SACCO Board of Directors Rev Fr Emmanuel Safari, the Sacco which started in 2001 with 68 members now has a total of more than 10,000 shareholders spread in Rukungiri, Rukiga, Mitooma and Ntungamo Districts which has made it one of the fast developing financial institutions in the region and the country.
Rev Fr Safari said that the newly opened Rukungiri Municipality Branch will boost the services being given to shareholders at the main Branch in Kebisoni Town Council, Nyamunuka Town Council in Ntungamo District and Mabanga Trading Center in Kebisoni Sub-county.
He said that the Board of Directors decided to open up the Rukungiri Municipality Branch due to increased number of shareholders who demand for their quality services and the Branch will serve the Municipality, Rwerere Town Council, Ruhinda Subcounty and neighbouring area.
Kebisoni SACCO is fully affiliated to Uganda Cooperative Alliance (UCA), Uganda Cooperative Savings Credit Union (UCSCU) and Uganda Cooperative Financial Services (UCCFS) and is headed by a 10 Member Board of Directors chaired by Rev Fr Emmanuel Safari.
During the SACCO 22nd Annual General Meeting held last month, Rev Fr Safari disclosed that Kebisoni SACCO closed 2024 with total savings of Ugx 4.98 billion a Share capital worth Ugx 2.71 billion and loan portfolio has increased to 12.47 billion.
He therefore urged the business community of Rukungiri Municipality, the farmers and institutions of learning to trust Kebisoni SACCO and become shareholders in order to access the services on their door steps.
He however noted that that the majority of the shareholders have between 5 and 10 shareholders which is detrimental to the growth of the SACCO and urged delegates to do more sensitisation to members to increase their shareholding status.
Rev Fr Safari however said that the Board of Directors in consultation with Colidel Consults Ltd was able to develop a 5 year Strategic plan to guide the Board, Management and Staff in issues of driving the the SACCO forward to achieve it’s strategic goals and objectives and they have also revised the the Credit and Lending manual where loan appraisal levels were introduced to reduce risks and turnaround time and the SACCO and have adopted more technology to facilitate the organization’s operation in partneship with Future Link Technologies Ltd.
Kebisoni SACCO offers several products which include Agricultural Loans, Boda Boda Loans, Housing Loans, Bakyara Loans, School fees Loan and Commercial Loan among others.
Kebisoni SACCO was established as a savings and credit cooperative society by the community around Kebisoni Trading centre as registered cooperative society (Reg. No. 6397).
While speaking at the event, the Chairman of Rukungiri Municipality Business Community Chrestom Byaruhanga Rwakaana welcomed Kebisoni SACCO for bringing the services closer to where the majority business oriented people are in the District and promised that he will hence forth become their chief mobiliser and immediately purchased 10 shares to become a fully registered shareholder.
He however warned that the Sacco Board of and Management must stick to the core values which founded the institution and made it strong if they are to survive the competition in the growing market.
Rukungiri Municipality Commercial Officer Kamugabigwe Micheal who was the Chief Guest said that Kebisoni SACCO was lucky to open a branch in Rukungiri Municipality when there is high demand of financial services and urged the management and staff to use this opportunity to expand and sustain their market.
He however said that the SACCO strength depends on increased membership resulting into increased shareholding, regular use of the Sacco services by making savings and taking and paying back the loans and asked the Board of Directors who attended the opening to intensify their mobilisation approach to attract more members.
Kamugabigwe pledged support to Kebisoni SACCO and urged the Management to always use their offices where necessary and promised regular monitoring to ensure that the SACCO fulfills its Objectives, Vision and Mission.
The opening was witnessed by the Kifunjo LC 1 Chairman Karumuna Alex who pledged support by first becoming a member and the already shareholders who includes the Delegates who represent Rukungiri Municipality in the SACCO Annual General Meeting.
