MUSHANGA SACCO THE FIRST ONE TO CELEBRATE 50 YEARS OF EXISTENCE IN UGANDA
RUBABO SACCO OVERWHELMED BY GREAT SUCCESS AT MUSHANGA SACCO
By Wilber Muhwezi Kasibante
Rubabo sacco located in Rukungiri district headquartered in Nyarushanje town in Rubabo county was overwhelmed by great strides achieved by Mushanga sacco in its quest for growth of the sacco and its members.
Rubabo sacco led by its chairman board and General manager visited Mushanga sacco this week to benchmark on success of the sacco.
Mr. Joseph Turindwamukama chairman board Rubabo sacco told www.mknewslink.com news website while at the headquarters of Mushanga in Sheema that he was overwhelmed by a well-organized sacco with strong internal systems.
The general manager Rubabo sacco which has six branches whereas Mushanga sacco has 12 branches told www.mknewslink.com that she was overwhelmed by loan profile management which is great.
Group Photo of Rubabo Sacco Staff and Board as well as GM Mushanga Sacco In Nyamufumura this Week.
Ms Joan Nimwesiga GM added that she also admired a successful internal controls that fight fraud.
She added that she was amazed by management of a very big staff of 12 branches in a very organized manner.
The general manager, Mushanga Sacco Mr Gorden Nankunda took through Rubabo sacco staff and board on how they have managed to succeed. Channels they have taken to make it.
He noted that the friendship between Rubabo sacco and Mushanga sacco has been cemented and the smooth cooperation had started there and then.
On behalf of Management Mushanga SACCO LTD, Iam delighted to present to you this edition of the Golden Jubilee Magazine.
Congratulations to the shareholders, Board of Directors, Staff, Partners and all stakeholders upon this un precedented achievement.
Dear readers, 50 years of excellent service is a no mean achievement. Therefore, celebrating and writing together what we have experienced is worth it since some organizations have not lived to celebrate their 1st birth day.
Looking at our humble beginning in 1969 to what we are now, the Lord’s Name should continue to be glorified.
Article after article will be giving numerous information about Mushanga SACCO which we shall not exhaust in writing. However, I will give a highlight on the background, achievements, challenges and the future prospects among others.
Having started in 1969 and registered as a Co-operative Society, later 1981 we boost of a number of Successes. Most of our strategic objectives have been achieved and some exceeded by far. Majorly, membership, Savings, share capital, Loan Portfolio growth and others as will be seen in the graphs.
We have opened eleven branches in order to extend services nearer to our people.
We are proud to have constructed head office at Nyamufumura trading centre. Kigarama branch in Kanyeganyegye trading Centre was also built by Shareholders. We thank aBi Trust for the 150M push given to us on Head office construction.
A SACCO that started with no single staff apart from the SACCO Treasurer Mr. Kiriwali Bonifance who was a Cashier, Loans officer and Manager is now managed by 87 staff, 33 security guards and 11 support staff. These are directly employed. One of our senior personnel who mentored me Mr. Ndyahikaki Bernard recently retired at an age of 60 years.
We have also given indirect jobs to our shareholders like youth who engage in Boda Boda business and other shareholders who start small scale industries.
We were ranked among the fastest growing medium sized companies at a colourful ceremony held at Hotel Africana Uganda and we were the only Sacco among other companies.
Other Successes include quality services, selected to be regulated by Bank of Uganda, continuously reducing our lending rates, having a strong Management Information System that supports digital banking to mention but a few.
Like any other organization, our road to success has not been straight. Competition with other financial players, saving culture of some of our clients which has not been good, the credit risk, security risk, inflation, and others have not been easy. I thank the Board and staff for managing the mentioned challenges.
Dear readers, we are doing our best to keep Mushanga Sacco growing from strength to strength and hence remain the Microfinance giant in Uganda.
In the next five years, we expect our Sacco to have 50,000 shareholders, loans worth 40Bn, Shares worth 12Bn, savings worth 22Bn. This will be possible given the trend we have had for the last five years.
We shall remain indebted to our partners aBi, MSC, UCA, UCCFS, UCSCU, APROCEL and Future link Technologies.
To all commercial officers of Greater Bushenyi, our appreciation is endless.
The office of Registrar of Co-operatives in Uganda, you have made our journey so smooth.
I invite all those not yet our Shareholders to join us so that we exploit this vast experience for our Socio economic transformation.
To my fellow staff, let you not spend a single day without empowering a client. Let’s cherish professionalism, integrity, team work, unity of purpose and quality service.
We strive to be the preferred institution serving a growing, prospering membership with in Ankole Region as we offer customer focused quality services. ‘BIIKA OGUZE’
NANKUNDA GORDEN
GENERAL MANAGER
Welcome to Mushanga co-operative savings and credit society limited
Mushanga co-operative savings and credit society limited is a member founded, member owned, member used and member controlled financial institution that was registered with the Registrar of co-operatives on 16th July 1981
Our Mission
To mobilize resources and offer demand driven quality financial and non-financial services to members and other stakeholders for improved socio-economic welfare
Our Vision
‘To be the preferred financial institution serving a growing, prospering membership within Uganda’
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