Bushenyi, Uganda – The Igara Buhweju Tea Farmers Sacco (IGABU) concluded its 7th Annual General Meeting today with a resounding celebration of its remarkable growth and achievements.
Senior Presidential Advisor Eng. Reymond Kamugisha lauded the Sacco’s progress, urging leaders to maintain their diligent service, transparency, and commitment to combating corruption.
IGABU reported exceptional progress in 2024, boasting a membership of 16,593, savings exceeding 4.5 billion shillings, a share capital of over 2.3 billion shillings, and a loan portfolio reaching 9.5 billion shillings. Total assets now stand at an impressive 10.8 billion shillings.
General Manager Lilian Niwagaba expressed gratitude to the members for their contributions, emphasizing the Sacco’s strength lies in its collective efforts. She challenged members to strive for continued excellence, building on their substantial achievements.
Chairperson Adrine Kobusingye highlighted the Sacco’s crucial role in improving household incomes and supporting community development through initiatives like education bursaries and community projects.
However, she also acknowledged challenges, including loan defaults, the need to boost voluntary savings, and addressing negative social media campaigns by some defaulters. She urged members to embrace responsible borrowing and refrain from spreading misinformation.
Assistant RDC Bushenyi, William Kasigazi Donanto, praised IGABU’s leadership for its teamwork and rapid growth, noting its success in implementing government development initiatives. He also encouraged value addition to enhance competitiveness and the timely repayment of loans.
Eng. Kamugisha’s inspiring address and IGABU’s impressive performance underscore the Sacco’s vital contribution to the economic empowerment of tea farmers in the region and serve as a model for other cooperatives across Uganda.
End.
