Kebisoni Sacco hailed for remaining afloat despite the COVID 19 Challenges

Kebisoni Sacco hailed for remaining afloat despite the COVID 19 Challenges
Rev Fr Emmanuel Safari, the Chairman of Kebisoni Sacco receiving a plague the Sacco gave to Hussein Kashillingi for the support he has rendered (Photo by Patson Bararire Mushaija)

RUKUNGIRI- Rukungiri District Commercial Development Officer Adams Bwisho has hailed the management and staff of Kebisoni Sacco for keeping the Institution operational despite the hard times of Coronavirus pandemic.

Bwisho made the remarks today while addressing the members of Kebisoni Sacco during their 17th Annual General Meeting which took place at St Anthony of Padua Senior Secondary School Mabanga, in Kebisoni Sub County.

He however asked the Sacco Management and staff to ensure that they operate the Sacco according to the Cooperative Society laws and the Sacco Constitution.

He said that Kebisoni Sacco is one of the vibrant financial institutions which have remained operational in Rukungiri District despite the outbreak of Coronavirus pandemic and asked them to step up effort because the coming times are more challenging.

Rev Fr Emmanuel Safari , the Chairman of Kebisoni Sacco addressing the members during the 17th AGM at St Anthony of Padua Mabanga SSS (Photo Credit: Patson Baraire Mushaija)

Earlier, Kebisoni Sacco Chairman Rev Fr Emmanuel Safari said that the Saco grew from 3,836 members to 4,305 in the last financial year which ended on 31st December 2019 but called on members to at least recruit 3 other members each if the Sacco is to remain strong.

Fr Safari also said that the Sacco has a Ugx 1.2 billion share capital, Ugx 1.3 billion savings and Ugx 2.8 billion loan portfolio which translated into Ugx 428 million.

Fr Safari however lashed at members who have become loan defaulters to stop the practice which is weakening the Sacco.

The Uganda Cooperative Alliance Institutional Development Officer Asiimwe Robert addressing Kebisoni Sacco members during the AGM (Photo Credit: Patson Baraire Mushaija)

Speaking at the same function the Senior Institutional Development Officer at Uganda Cooperative Alliance (UCA) Asiimwe Robert asked Kebisoni Sacco members to invest more in the Sacco by buying more shares to recapitalize it so that it can remain operational in these hard times.

During the meeting, Lawyer Hussein Kashillingi who recently donated Ugx 15 million which was used to buy solar power system for the Sacco.

At the function, the best performing Sacco members were given gifts according to the category of their transaction which include best shareholder, best saver and best Group or Institutions saver.

Beatrice Muheirwe receiving a certificate from Kebisoni Sacco Management (Photo Credit: Patson Baraire Mushaija)

The winners include Muhereza Dick, Turigye Onesmus and Mugyenyi Christopher as best Loan service clients, Busingye Doreen, Arinaitwe Godfrey Ssentume and Kitoojo Mabanga Coffee farmers as best shareholders and Kesikure Charles, Matovu Imam and St Jerome Development Association as best savers. All the best performers were given gifts which included goats and mattresses and each one was a certificate of recognition.