SCP Wilson Omoding, Chairperson of Exodus SACCO Ltd, the Uganda Police SACCO, reflected on the business performance of the organization, noting a significant rebound in financial metrics compared to a challenging period in 2022. He attributed this resurgence primarily to the sustained growth in interest income, which surged from Ugx. 3.89 billion in 2022 to Ugx. 6.68 billion in 2023.
In addition to the impressive growth in interest income, SCP Wilson Omoding highlighted the expansion observed in the balance sheet of Exodus SACCO Ltd. The balance sheet recorded a notable increase, climbing from Ugx. 59.77 billion to Ugx. 70.89 billion, indicating an 18.8% rise. This growth was predominantly fueled by the increased loans extended to members, demonstrating the SACCO’s commitment to supporting its members’ financial needs.
As SCP Wilson Omoding presented the performance report for the financial year 2023, he emphasized the founding purpose of Exodus SACCO Ltd, established in 2007, which aimed to enhance the welfare of its members. He underscored the crucial role played by the mindset and attitudes of the members towards saving, borrowing, and investment in determining the SACCO’s ability to fulfill its mandate effectively.
SCP Wilson Omoding emphasized the importance of members’ active participation in saving, borrowing, and investing in alignment with Exodus SACCO’s core objective. He called for continued dedication from the members to ensure the SACCO’s sustained growth and prosperity, urging them to approach financial activities purposefully to maximize the benefits offered by the organization.
