Ruhinda Sub County Kampala Residents United SACCO (RUKUSA) Marks 5th Anniversary with Over UGX 1 Billion Net Worth & Renewed Call for Unity

KAMPALA, UGANDA— What began as a humble savings initiative among residents of Ruhinda Sub County living and working in Kampala has grown into a strong and credible financial institution. 

Ruhinda Sub County Kampala Residents United SACCO (RUKUSA) has celebrated its 5th Anniversary with outstanding financial growth, expanded membership, and renewed commitment to empowering its members socially and economically.

Formed by people from Ruhinda Sub County in Rukungiri District who reside in Kampala and its surrounding areas, RUKUSA was built on a shared dream — to promote savings, provide affordable credit, and strengthen financial stability within the community.

From Humble Beginnings to Financial Strength

In his anniversary message, Chairperson Vanansio Natuhwera Bagateireyo applauded members, the Board, committees, and staff for their dedication and discipline, which have enabled the SACCO to grow steadily over the past five years.

He also extended special appreciation to the Nakawa Division Commercial Officer, Mr. Bateeze Joshua, and the Microfinance Support Centre for their continuous guidance and institutional support.

The 2025 financial year reflected remarkable performance:

Loan Portfolio increased from UGX 661,165,897 in 2024 to UGX 978,072,481 in 2025.

Net Profit more than doubled from UGX 58,369,249 in 2024 to UGX 129,594,191 in 2025.

Share Capital expanded from UGX 504,246,191 to UGX 710,212,326.

Net Worth grew significantly from UGX 685,253,610 to UGX 1,040,229,640 — surpassing the UGX 1 Billion mark.

Number of Shares increased from 10,124 to 14,204.

Membership rose from 155 members in February 2025 to 214 members in February 2026.

In 2025 alone, RUKUSA disbursed UGX 956,470,000 in loans to 143 members through products such as Quick Loans, Emergency Loans, Decent Loans, Prime Loans, and Business Loans — directly supporting businesses, education, housing, and household needs.

Securing UGX 100 Million: A Milestone of Credibility.

One of the biggest highlights of the anniversary was the confirmation that RUKUSA secured a UGX 100 million loan from the Microfinance Support Centre at an interest rate of 8% per annum.

According to Vice Chairperson Irene Rwakinanga, this achievement followed a rigorous process that required compliance with regulatory and governance standards.

 The SACCO obtained a money lending license from the Uganda Microfinance Regulatory Authority (UMRA), strengthened its governance systems, improved record-keeping, conducted certified board meetings, filed annual returns, and engaged external auditors to enhance transparency.

RUKUSA also demonstrated institutional maturity by remitting staff contributions to the National Social Security Fund (NSSF).

Initially approved for UGX 50 million, the SACCO’s leadership confidently requested reconsideration. 

After a physical inspection and assessment of its strong loan recovery rates and governance systems, MSC doubled the facility to UGX 100 million — a clear sign of trust and credibility.

Policies That Strengthen Ownership

To build a strong capital base,

 RUKUSA introduced policies requiring each member to purchase at least two shares annually between January and June — raising UGX 69 million in 2025. A discounted share campaign conducted between July and September raised an additional UGX 40,411,000.

The Emergency Fund also grew from UGX 17,943,200 to UGX 32,003,200, while in-house insurance contributions increased significantly.

Leadership Renewal and Forward Strategy.

As Board and committee terms expired, members elected a new leadership team to guide the next phase of growth. Chairperson Vanansio Natuhwera Bagateireyo was re-elected, deputized by Irene Rwakinanga.

Key proposals presented during the Anniversary and AGM included:

Declaration of UGX 100,000,000 in dividends after statutory deductions.

Maintaining monthly savings at UGX 50,000 and annual subscription at UGX 60,000.

Maintaining 1% in-house insurance.

Increasing the Decent Loan limit from UGX 15 million to UGX 20 million.

Recruiting additional staff to improve service delivery.

Holding dividends for guarantors of loan defaulters to enhance loan discipline.

Introducing a RUKUSA suggestion box to strengthen member participation.

Beyond finance, RUKUSA successfully held a Special General Meeting, conducted member training on its SACCO software system, and organized a vibrant RUKUSA Day Out that attracted new members.

Challenges and Call for Compliance

Despite the growth, leadership acknowledged challenges, including non-compliance with credit and savings policies and failure by some members to use designated banking channels — increasing operational costs.

The Chairperson urged members to adhere strictly to SACCO policies to safeguard stability and sustainability.

“From humble beginnings, we have grown into a strong financial institution empowering our members. Our future depends on unity, discipline, and responsible leadership,” he emphasized.

A Call for More Membership

As RUKUSA enters its sixth year, the leadership has made a passionate call to all people of Ruhinda Sub County residing and working in Kampala and neighboring areas to join the SACCO.

Membership in RUKUSA means:

Access to affordable and flexible loans

Opportunity to earn dividends on shares

Financial discipline through structured savings

Emergency support systems

Participation in a trusted, fully registered and compliant institution

Belonging to a united and empowering community

RUKUSA’s story proves that when a community unites around a shared vision, extraordinary transformation becomes possible.

With a net worth exceeding UGX 1 Billion, strong governance systems, national-level financial backing, and growing membership, RUKUSA is not just a SACCO — it is a symbol of unity, resilience, and economic empowerment.

The journey continues. The invitation is open. Join RUKUSA and be part of the next chapter of growth.