NTUNGAMO – Ntungamo District Commercial Officer (DCO) Benon Tibamanya Kigoora has inaugurated Ruhaama East Savings and Credit Society Ltd at Kiyoora Sub county headquarters.
Speaking as the guest of honour, DCO Kigoora commended the private teachers hailing from Ruhaama East constituency for coming up with their good idea of starting a SACCO where the government shall channel their funds to support them in the fight against poverty.
The SACCO that started with few members in April 2020 during the Covid-19 lockdown to assist them with some loans has kept expanding slowly and now has over 250 members.
During the SACCO’s first Annual General Meeting, the members confirmed Byamukama Richard, Who’s also the Director of Kiyoora High School as their Chairman Board and Musiime Roseline as Vice Chairperson. Other executives are Kyarikunda Allen, treasurer, Ampaire Baker as General Secretary. Ivan Nshaba-Mukama was also confirmed as Chairman Supervisory committee and Nabimanya Nathan as Arbitrator.
Mr. Kigoora advised the SACCO leadership to have good working relationships if the SACCO is to progress.
He also warned some members who have a habit of defaulting to stop it, saying that loan defaulters are the ones who cause the collapse of many SACCOs.
The SACCO chairperson Byamukama thanked members for trusting and confirmed him as their head and promised to serve them effectively.
He further informed the meeting that the SACCO is now fully registered with ministry of trade and Industry and has certificate No. P.12210/RCS.
The DCO launched the SACCO and handed over the certificate of registration.
The function was attended by Nyakyera Sub county LC3 Chairman who was represented by Ms. Carolyn Mary Nganwa, the Headmistress Rwamakukuru P/S, Religious leaders among others.