Kampala, Uganda | THE INDEPENDENT | Presidential aide Henry Lutwama has told clan leaders in Buganda to employ organised financial savings as a tool for wealth introduction, warning against diverting SACCO funds to non-productive prices.
Lutwama, the Special Presidential Assistant and Coordinator of Bataka Affairs in Buganda, made the remarks on February 16 while officiating on the annual overall meeting and 2d anniversary of Abataka Mutindo SACCO, held at Bulange.
He praised the Abataka for sustaining the SACCO beyond its formative years, noting that many neighborhood-based organisations crumple within a transient time attributable to former governance and unhappy financial self-discipline. “This SACCO proves that faded institutions can drive pattern when anchored in accountability and collective duty,” he talked about.
Established two years in the past, Abataka Mutindo SACCO serves as a overall financial savings and credit score platform for clan heads across the Buganda Kingdom.
Lutwama talked about the initiative aligns with President Yoweri Museveni’s long-standing call for Ugandans to embrace “okugasa”being resourceful thru income-generating and poverty-low cost programmes.
“You, the Bataka, must continue leading by example. SACCO funds ought to be invested in productive ventures, now not spent on ceremonies a lot like weddings, introductions or birthday celebrations,” he cautioned.
He moreover inspired the SACCO to prioritise formative years entrepreneurship, empower ladies-led corporations and make investments in financial literacy amongst clan members.
Having a look forward, Lutwama challenged the management to explore the probability of remodeling the SACCO into a formal financial institution.
“Abataka Bank ought to be section of our long-timeframe agenda. With smartly loyal management and increased capitalisation, this SACCO can evolve into a bank that supplies cheap financial providers to clan members,” he talked about, pledging to make stronger its operations if capital is doubled by twelve months-cease.
All the diagram in which thru the AGM, Sarah Nansubuga and Samuel Musoke, recognised as the easiest savers of 2025, got Solar M7 house kits, while SACCO chairman Ian Kabali Kajubi used to be moreover awarded a unit.
Lutwama, a co-founding father of the Solar M7 mission, talked about the kits are designed to make stronger off-grid households with well-liked lighting fixtures and cell phone-charging providers. He additional donated Shs5 million to make stronger the SACCO’s ongoing activities.
Abataka leaders feeble the meeting to remind the president of his earlier pledge to set Lwattamu Home, a proposed industrial constructing supposed to host Abataka programmes.
The SACCO management talked about the anniversary marked a renewed dedication to s
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