Rwentobo-Rwahi, Ntungamo — Savings and Credit Co-operative Organizations (SACCOs) have been challenged to always benchmark from fellow financial institutions as a way of streamlining and advancing services to their clients.
These remarks were made by Mr. Ndibarema Wabitwababo, the Chairperson of Ntungamo SACCOs Union, as Nyakyera Farmers SACCO embarked on a benchmarking tour to Turibamwe SACCO in Rwentobo-Rwahi Town Council.
Ndibarema emphasized cooperation among SACCOs instead of competition by sharing experiences, since their main goal is poverty alleviation in their areas of operation.
He, however, urged SACCOs to devise means of reducing the loan defaulting syndrome among their clients, which affects the operations of these financial institutions.
Ndibarema was impressed that Turibamwe SACCO owns storeyed buildings from its Rwahi main centre to its branches in Rwentobo and Rugarama, which he said is a rare case compared to other SACCOs.
Asiimwe Fabius Mwamba, the Board Chairperson of Turibamwe SACCO, noted that Nyakyera Farmers SACCO are their business partners, a reason they benchmark from each other, challenging other SACCOs to emulate this culture if they are to attain financial stability.
The General Manager of Turibamwe SACCO, Mr. Anaclet Atuhaire, disclosed that the SACCO started its operations in 2006, now has 10,000 members and fully runs on its own members’ savings without any external borrowing.
The General Manager of Nyakyera Farmers SACCO, Mr. Kaddu Silver, noted that through the benchmarking tour they shared ideas and experiences which will positively impact their operations.
The Chairperson for Mobilization and Education Committee of Nyakyera Farmers SACCO, Rev. Can. Stephen Karemire, urged members of the public to embrace joining SACCOs in order to improve their household income, build decent accommodation and educate their children.
Both financial institutions hailed Radio Ankole for being their developmental partner in terms of mobilization, hence attracting more new members.
Later, they played a friendly football game at Rwentobo playground where Nyakyera Farmers SACCO won by one goal to nil, a goal scored by Kawoya Patrick in the 38th minute of the first half.
Photo Credit: Radio Ankole
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