Written By | BK Mugizi
Kyaps Sfaff pose for a group photo at their newest Ntungamo municipality branch
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Ntungamo
Kyamuhunga People’s SACCO (KYAPS) Board Chairperson, Paul Kahigi Turyamureeba, has praised President Yoweri Museveni for extending the income tax waiver for SACCOs and suspending the planned supervision of SACCOs by the Bank of Uganda.
The remarks were made during the official opening of KYAPS’ newest branch in Ntungamo Municipality on Wednesday, a milestone that brings the number of KYAPS branches to 11 across Western Uganda. These include the head office in Kyamuhunga (Bushenyi), and branches in Ishaka, Katerera (Rubirizi), Rutookye (Mitooma), Rubaare (Ntungamo), Kihihi (Kanungu), Kashenshero (Mitooma), Mwenge (Kyenjojo), Biguli (Kamwenge), Mbarara, and Bitooma (Bushenyi).
Kahigi reminded members that in 2007, the President granted SACCOs a 10-year income tax exemption, which was due to expire in June next year.
He said that during a meeting with the Uganda Cooperative Savings and Credit Union Limited (UCSCU), the umbrella body for SACCOs in Uganda, President Museveni extended the exemption and halted the planned transfer of SACCO supervision to the Bank of Uganda.
Under the current regulatory framework, SACCOs are supervised by multiple authorities, including the Registrar of Co-operatives and the Uganda Microfinance Regulatory Authority (UMRA). Until recently, the Bank of Uganda was expected to begin oversight this month.
Critics had warned that this shift could burden SACCOs with additional compliance costs and limit their operational flexibility. Kahigi noted that the President’s directive will allow SACCOs to continue focusing on serving members’ needs rather than adapting to a new regulatory regime.
“The President’s leadership has given us space and confidence to grow. We can now think beyond compliance costs and invest in our people, our branches, and our members’ prosperity,” Kahigi said.
Since the tax waiver was first introduced, Kahigi noted, SACCOs have built their own offices, acquired vehicles for operations, and expanded their branch networks — moves that have strengthened financial inclusion in rural and peri-urban communities.
Speaking at the same event, KYAPS General Manager Atwijukire Johnbosco welcomed the Ntungamo branch, saying it will save members from travelling long distances to Rubaare and Ishaka for financial services.
“This branch brings our services closer to our people, and through tailored products — especially loans targeting youth and women — we are empowering members to launch their own income-generating activities,” Atwijukire said.
Kyaps chairperson board Paul Kahigi Turyamureeba
KYAPS Finance and Operations Manager Mwebaze Osward commended local farmers for joining the SACCO and urged institutions such as schools to open accounts so they can benefit from larger institutional loans of up to Shs 500 million.
Osward highlighted the Kyapa Loan product, which helps members secure funding to acquire land titles and improve their institutions, such as schools. “Land ownership transforms families, and we are proud to support our members on that journey,” he said.
KYAPS, which started 28 years ago in 1998, has grown into one of Uganda’s leading SACCOs, with a strong footprint across Western Uganda and a membership base of tens of thousands.
Community leaders welcomed the new branch. Juliet Mpamize Bikuru, LC5 Councillor for Western Division, said the KYAPS expansion will boost agricultural productivity and strengthen business activities across Ntungamo District.
