RUBIRIZI, Uganda — Bunyaruguru Development SACCO has reported a strong financial performance, registering a net surplus of UGX 1.297 billion during its 25th Annual General Meeting held at Rugazi Central Primary School in Rubirizi District.
The SACCO, which was founded in 2000 by 30 members under the leadership of Jack Busingye, has grown significantly over the past 25 years into a key financial institution supporting local economic development.
According to the Board Chairperson, Mr. Philly Matsiko, the SACCO continues to play a vital role in empowering communities through accessible and affordable financial services. He urged members to utilise SACCOs as tools for fighting poverty, domestic violence, and household hunger.
Matsiko emphasised the importance of financial discipline, cautioning members against multiple borrowing and encouraging timely loan repayment. He also highlighted the need for a strong savings culture, noting that consistent saving, even in small amounts, can yield significant long-term benefits.
Financial reports presented at the meeting indicated substantial growth in 2025. The SACCO recorded share capital of UGX 2.648 billion, savings worth UGX 3.547 billion, and a gross loan portfolio of UGX 10.176 billion. Total assets stood at UGX 11.586 billion, with membership reaching 13,477.
The General Manager, Ms. Gumisiriza Manuelina, attributed the SACCO’s progress to strong member support, teamwork, and commitment. She noted that these factors remain central to the institution’s continued growth and future success.
Despite the positive performance, leaders acknowledged several challenges affecting operations, including loan defaulters, limited share capital, high dormancy rates, and increasing competition from informal money lenders. Climate change and negative perceptions about SACCOs were also cited as barriers to growth.
The SACCO Treasurer, Mr. Julius Tumuhirwe, called on members to adopt disciplined financial behaviours, including regular saving and borrowing for productive investments. He warned that passive engagement and poor financial habits could undermine the SACCO’s sustainability.
Meanwhile, Rubirizi District Commercial Officer, Mr. Twebaze Criscensio, commended the SACCO leadership for transparency, teamwork, and effective management. He encouraged members to remain committed to income-generating activities and prudent financial practices.
Twebaze also warned residents against engaging with illegal money lenders, particularly the practice of using national identity cards as collateral, noting that it is unlawful and punishable under Ugandan law.
As Bunyaruguru Development SACCO looks ahead, its leadership reaffirmed commitment to expanding services and strengthening financial inclusion, positioning the institution as a cornerstone of socio-economic transformation in Rubirizi District.
