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Some of the Board members of Ankole Farmers and Traders SACCO attending the silver Jubilee at Mbarara University Inn on Monday 17th November 2025. Joshua Nahamya
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Joshua Nahamya
Mbarara City
Ankole Farmers and Traders SACCO on Monday, November 17, 2025, celebrated its silver jubilee, bringing together more than 1,000 delegates representing 60,000 members from across Ankole, Kigezi, Tooro and Buganda regions. The celebrations held at University Inn, Mbarara, were marked by renewed calls from cooperative leaders urging government to block plans to place large SACCOs under Bank of Uganda (BoU) supervision, as proposed under the 2022 Cooperative Societies Act.
Ankole Farmers and Traders cutting a cake to celebrate 25 years of service
SACCO Leaders Reject BoU Takeover
Board Chairperson Nathan Kateeba said transferring SACCO regulation to BoU would “take away members’ independence” and impose banking-style requirements such as collateral and strict lending procedures that many members cannot meet.
“We ask government to leave SACCOs under the Ministry of Trade, Industry and Cooperatives. They understand our challenges better,” Kateeba said.
He credited the government’s 10-year tax waiver for SACCOs for enabling the institution to expand branches and finance its corporate social responsibility initiatives, including donating medical items worth Shs 100 million to 17 health centres.
Kateeba said the SACCO targets becoming a commercial bank in future, “just like Equity, Centenary and Post Bank that also began as cooperatives.”
UCSCU, MPs Back Single Regulator
UCSCU CEO Dr. Sylvester Ndorwamukama warned that placing SACCOs under multiple regulators—BoU, Ministry of Trade and Ministry of Finance—creates confusion.
“We want a single regulator for all SACCOs. Multiple regulators will kill cooperatives,” he said.
Mbarara City Woman MP Rita Bwahika pledged to take the matter to Parliament, warning that BoU regulation could “frustrate local financial institutions that employ thousands and support grassroots communities.”
She urged SACCO members to embrace digital banking and avoid defaulting on loans.
Hon Rita Bwahika, Woman MP Mbarara City
SACCO Growth Recognised
CEO Wycliffe Nahamya said the SACCO, which started in 2000 with only 30 members and Shs 1 million, has grown to: 60,000 members, Shs 36 billion in share capital, Shs 21 billion in savings, 17 branches, 130 employees. The SACCO also owns 4 Stars Junior School in Mbarara, supporting parents who struggle with school fees. During the silver jubilee health campaign, the SACCO spent Shs 180 million on activities and member support.
Government Pledges Support
Trade Minister Francis Mwebesa, represented by Jean Baguma, commended the SACCO for its impact on financial inclusion and enterprise growth, pledging continued government support to strengthen cooperatives through capacity building and digital tools.
He encouraged the SACCO to maintain strong governance and invest in value addition to tap into regional market opportunities.
Torch Media Africa
