The Bank of Uganda has licensed two additional large Savings and Credit Cooperative Organisations (SACCOs), Share An Opportunity SACCO based in Zirobwe and Kihondo Tukwatanize SACCO based in Fort Portal, bringing the number of large SACCOs under the Bank’s direct supervision to six.
The licences were handed over during a ceremony held at the Bank of Uganda headquarters on Thursday, 6 August 2026, by Mr Mackay Aomu, Director of Non-Bank Financial Institutions, on behalf of the Executive Director for Supervision and Regulation.
Addressing the newly licensed SACCOs, Mr Aomu urged them to remain closely connected to the communities they serve while building strong, transparent, and trusted financial institutions that members can rely on.
He emphasised the need for robust policies and procedures that promote accountability, enhance internal controls, and support prudent management of resources. He further encouraged the SACCOs to prioritise the protection of members’ data and integrate environmental, social, and governance (ESG) considerations into their operations.
Mr Aomu noted that well-regulated and effectively governed SACCOs are critical in advancing financial inclusion, increasing access to affordable financial services, and contributing to Uganda’s broader socio-economic transformation agenda.
The ceremony was attended by senior executives and board chairpersons from the two SACCOs, alongside officials from the Bank of Uganda’s Supervision Directorate.
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