By Natasha Arinda,
BUSINESS
Members of Rwobuyenje Adullam Community Traders Savings and Credit Cooperative Society Limited (RACT SACCO) have been urged to mobilise more people to join the cooperative in order to strengthen its capital base and expand access to credit.
The call was made during the SACCO’s 10th annual general meeting (AGM) held in Rwobuyenje Town, Mbarara City on Saturday (March 7). During the meeting, the chief guest, Godfrey Baryomunsi, commended members for supporting the cooperative and encouraged them to use it as a vehicle for economic transformation.
Baryomunsi urged members to increase their shares and savings, saying strong member participation would enable the SACCO to attract government support and expand lending services.
“We need more members and stronger participation so that the SACCO can grow and benefit the entire community,” he said.
RACT SACCO currently has 265 registered members drawn mainly from traders and residents within the community.
The chairperson of the board, Joseph Barugahare, said the SACCO has made progress in strengthening governance and improving service delivery to members.
Barugahare said the leadership has also introduced tighter supervision of operations to ensure accountability and transparency in financial management.
He noted that the SACCO has faced challenges related to delayed loan repayments by some members but said measures had been put in place to address the problem.
“Members are advised to follow loan repayment schedules and ensure all loan requirements are fulfilled before funds are disbursed,” he said.
According to the supervisory committee report, all SACCO operations are being properly monitored and records for transactions are available.
The committee also revealed that security at the SACCO offices had been strengthened through the installation of surveillance cameras. This was after the area LC1 chairperson, Geoffrey Nabasa asked management to deploy security at the SACCO premises, pointing out criminals who might target the SACCO.
The auditor’s report presented during the meeting indicated that the SACCO recorded a retained surplus of sh13,379,583, with improvements registered in several financial statements.
Members were encouraged to increase their shareholding to boost dividends and improve their chances of accessing larger loans.
Meanwhile, the Mbarara City commercial officer, Donat Mutahi, pledged to support the SACCO in strengthening its financial operations and growth.
The treasure report presented the 2026 budget, projecting total expenditure of about sh20.02 million, covering operational expenses such as rent, stationery, electricity, communication, transport, bank charges, staff welfare, salaries, audit fees and annual general meeting costs.
The treasurer said the SACCO will continue mobilising members and retaining interest earnings to support future development and expansion.
RACT SACCO leaders expressed optimism that with increased membership and improved financial discipline, the cooperative will continue empowering traders and small business owners within the community.
