BUTUURO FINANCIAL SERVICES MAKES PROFITS WORTH UGX 803M TO BECOME MDI IN THE NEXT 2 YEARS’
By Wilber Muhwezi Kasibante
Butuuro Financial services located in Nyakabirizi division Bushenyi Ishaka municipality has made profits worth ugx 803, 896, 212 millions in the financial year 2022.
This was revealed today 25th March 2023 by the board chairperson Mr. Barigye Benson Mbugane during AGM held at college view guest house in Nyakabirizi division.
Mbugane noted that in 2021 the sacco made ugx 542,364,087 millions of profits.
He added that the assets of the company grew from ugx 8,924,984,168 billion in 2021 to ugx 12,051,549,609 billion in 2022.
He noted that on the journey to become an MDI, has so far raised ugx 2.5 billion out of 10 billion needed in 3 years out of the targeted 5 years.
The general manager of the sacco Mr. Peter Tumuhimbise noted that Butuuro financial services has unique products that other financial services don’t have therefore people run to Butuuro to benefit from those unique products.
The chief guest Ms. Bettie Olive Tirwomwe, the IGG of Uganda called upon management and board members to avoid corruption because it kills institutions.
She narrated in her speech how corruption is endemic in the country and how it has eaten up the fabric of the nation and called upon everyone to fight it.
The area member of parliament for Bushenyi Ishaka municipality Hon. Derrick Kabuura called upon people to join Sacco’s like Butuuro to save, borrow, and pay back on time.
Hon. Mary Karooro Okurut senior presidential advisor on Media and public affairs hailed Butuuro financial services for the milestone they have achieved and pledged to continue supporting them.
Mr. Ariho Moses, kituuzi farm company managing director was awarded with a gift by the sacco and it was handed over to him by the chief guest Ms Bettie Kamya. Some other people were also awarded.