Emyooga SACOOs have been instructed to put in place a strong monitoring and assessment framework to oversee their operations and leadership structures.
Regular field visits and meetings were planned by the microfinance support center in Mbrarara, Bushenyi, and Rwampara, among other districts, to provide direction and ideas for improvement, so boosting the Emyooga SACCOs.
Over a week, a group of Emyooga SACCO leaders from the Busoga region visited other SACCOs in the wider Bushenyi-Ankole region.
They visited numerous emyooga SACCOSs, including Mbarara City North Produce Dealer Emyooga SACCO, which acquired a seed capital of sh50m and is on the rise.
According to Atweta Abdulwahabu, the SACCO board chairman, they now have around 140 associations affiliated with their SACCO. This has allowed them to boost their savings by sh2 billion.
According to Atweeta, emyooga funds have been a tremendous source of finance for hundreds of produce traders in the region, allowing many of them to enhance their lives.
Their most difficult hurdle is the present export restrictions, particularly on grains and maize flour; he adds they have yet to petition the government on this issue.
He encourages other rising SACCOs to practice collaboration and leadership for the sake of their Saccos’ success.
Sheema Financial Services in Kabwohe, Sheema district, and Rwanyamahambe SACCO in Mbarara were also inspected. They expressed gratitude to the microfinance support center for allowing them to be a driver of socioeconomic reform in their communities.
Meanwhile, in Rwampara, the MSC paid a visit to Kinoni SACCO, which grew from a seed capital of 600 illings to a multi-million organization.
Merab Katushabe, the executive manager of Kinoni SACCO, revealed that their SACCO was nearly bankrupt until they decided to give it another shot.
In addition to the sh1.5b, the SACCO now has a string of property worth millions in Rwampara; emyooga SACCOs have been advised to replicate the good leadership and honesty of kinoni SACCO leaders in order to build their SACCO.