Business 21 October 2026 Nile Post

Kayunga RDC Encourages SACCO Members to Prioritize Savings

The Resident District Commissioner (RDC) for Kayunga, Jimmy Nsimbi Mugwanya, has urged members of Tonta Kayunga District SACCO to cultivate a habit of saving and manage loans responsibly to bolster the cooperative's financial health and boost household incomes. Source: https://nilepost.co.ug/news/380314/kayunga-rdc-urges-sacco-members-to-embrace-savings-culture

Kayunga Resident District Commissioner (RDC), Jimmy Nsimbi Mugwanya, has called upon members of the Tonta Kayunga District SACCO to actively embrace a savings culture and practice responsible loan management. Mugwanya stressed that timely loan repayments are crucial for strengthening the cooperative and ultimately improving the financial well-being of member households.

He highlighted that affordable credit, combined with smart investment choices and financial discipline, can empower members to cover essential expenses such as school fees, food, clothing, and healthcare. Mugwanya emphasized that consistent savings, rather than exclusive reliance on borrowing, should be the primary financial strategy for members.

According to Daniel Omalinga Oslon, the national secretary of Tonta SACCO, the organization is actively engaging members in income-generating projects, including cocoa and coffee cultivation, as well as beekeeping. These initiatives aim to equip members with sustainable ways to address economic challenges. Members are required to save a minimum of Shs2,000 weekly, with the option to save more based on their financial capacity.

The SACCO currently offers loans at a competitive interest rate of 10 percent. However, Oslon noted challenges in attracting new members and encouraging consistent savings, largely due to some members facing unemployment and unstable income sources. He appealed for government support to assist economically vulnerable members in participating in SACCO programs and developing reliable income streams.

The SACCO’s broader objectives include fostering a savings mentality, increasing access to credit, and supporting productive ventures that can uplift household incomes. Addressing barriers to participation and enhancing financial discipline are key to enabling the cooperative to expand its reach and contribute more significantly to the economic development of Kayunga District.