Masindi, Uganda – Authorities in Masindi Municipality have released the latest performance rankings of Emyooga Savings and Credit Cooperative Organizations (SACCOs), highlighting both successes and challenges in the government-backed initiative.
Speaking at the launch of the Bunyoro Sub-region Emyooga Missionaries Team at Masindi Booma Grounds, Commercial Officer Robinah Nyangoma announced that several SACCOs have emerged as top performers. These include the Women Entrepreneurs, Masindi Journalists, Veterans, Produce Dealers, Fishermen, Restaurant Owners, Market Vendors, Tailors, and Local Leaders SACCOs.
“These groups have demonstrated strong financial discipline and commitment to the program’s objectives,” Nyangoma said, noting their impressive savings and loan recovery records.
However, not all SACCOs are thriving. The Welders, Persons with Disabilities, Taxi Operators, Boda-Boda Riders, and Youth Leaders SACCOs were listed among the worst performers, raising concerns about accountability and sustainability within these groups.
Masindi Municipality received 860 million shillings in seed capital under the Emyooga program. According to the latest figures:
- Savings currently stand at 385 million shillings
- Loan recovery has reached 624 million shillings
- Total disbursements amount to 1.5 billion shillings
- Outstanding loans remain at 955 million shillings
The figures reflect both the progress made and the challenges ahead in ensuring effective utilization of funds.
The rankings were revealed as part of efforts to strengthen the Emyooga program across the Bunyoro Sub-region. The initiative, launched by the Ugandan government, aims to boost household incomes by supporting specialized groups with seed capital and encouraging savings and credit culture.
Officials emphasized that while some SACCOs are excelling, others must improve their financial management to avoid setbacks. The mission team is expected to provide guidance and oversight to ensure the program achieves its intended impact.
