The Bank of Uganda has licensed two more large Savings and Credit Cooperative Organisations (SACCOs), bringing the number of large SACCOs under its direct supervision to six.
The newly licensed SACCOs are Share An Opportunity SACCO, based in Zirobwe, and Kihondo Tukwatanize SACCO, based in Fort Portal. The licences were presented on Thursday, August 6, 2026, at a ceremony held at the Bank of Uganda by Mackay Aomu, Director, Non-Bank Financial Institutions, on behalf of the Executive Director, Supervision and Regulation.
Aomu urged the two SACCOs to stay close to the communities they serve and build institutions that members can trust. He stressed the need for clear policies and procedures, strong internal controls and proper accountability in the management of SACCOs.
He also urged the institutions to protect members’ personal and financial information and to consider environmental, social and governance issues in their day-to-day operations.
Aomu said well-managed and properly regulated SACCOs have an important role to play in widening access to financial services and supporting Uganda’s economic development. The ceremony was attended by the executives and board chairpersons of the two SACCOs, alongside officials from the Bank of Uganda’s Supervision Directorate.
