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By Wilber Muhwezi Kasibante

www.mknewslink.com

In Sheema—-

Mushanga SACCO, a catholic church founded SACCO has managed to make 1.9BN shillings despite the COVID19 problems that shook the economy.

Mushanga SACCO has 11 branches and its headquarters are based in Nyamufumura trading center in Sheema district.

The news of the profits generated under the COVID19 pandemic was revealed to the delegates yesterday by the general manager, Gordon Nankunda in a meeting held at Mushanga catholic center during their 40^th AGM.

500 M was deducted for taxes and other essentials as 1.4b is available for the development of the SACCO and members.

On these 1.4BN, members agreed in a meeting to capitalize the SACCO with 80% of the profits and 20% will be shared by members on their accounts as dividends.

Mushanga SACCO has been in existence for over 50 years and started as a local saving association in Mushanga catholic parish. The chief guest was the former Member of Parliament for Masindi district; Jalia Bintu Lukumo.

She is currently the chairperson of Uganda cooperative savings and credit union and is former chairperson Uganda parliamentary SACCO, member of parliamentary commission and chairperson equal opportunities commission.

Gordon Nankunda the general manager Mushanga SACCO.  

Mushanga SACCO Delegates with the chief guest

Jaliah Bintu Lukumo noted that the organization will introduce Credit Reference Bureau {CRB} to counteract multiple borrowing that is happening in many SACCOS.

CRB was introduced in commercial banks and has helped a lot to check multiple borrowing in commercial banks.

Jalia Bintu has commended Mushango SACCO for the excellent performance and promised to support them and excel more.

Jaliah Bintu was accompanied by her husband Norman Lukumo who was the DEO in greater Bushenyi for 16 years.

Norman Lukumo the former Bushenyi DEO who had accompanied his wife Jalia Bintu Lukumo

Joab the MD future link technologies LTD that provides mobile banking to all SACCOs in Uganda

The chief guest Jalia Bintu Lukumo with vetting committee

Main board with the chief guest Jalia Bintu

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