Kalyango urged the newly licensed SACCOs to protect the trust of their members by ensuring that members’ funds are secure, accurately accounted for and readily available when needed.
Bank of Uganda has officially handed over licences to four large SACCOs; Uganda National Bureau of Standards Staff Cooperative Savings and Credit Society Limited, Kibaya Youth Development Cooperative Savings and Credit Society Limited (Mbarara), CBS PEWOSA Nsindika Njake Eyeeterekera Savings and Credit Cooperative Society Limited, and Mateete Savings and Credit Cooperative Society Limited (Sembabule).
The licences were handed over by David L. Kalyango, the Bank of Uganda Executive Director for Supervision and Regulation, who represented the Governor at the ceremony held on Wednesday, October 7, 2026.
Kalyango congratulated the boards, management, staff and members of the four SACCOs for meeting the requirements for licensing under the Microfinance Deposit-Taking Institutions Act and the Microfinance Deposit-Taking Institutions (Registered Societies) Regulations, 2023.
The licensing brings the total number of large SACCOs licensed by Bank of Uganda to 10, with more than 35 applications at various final stages of review.
Kalyango said licensing and proportional regulation would help strengthen public confidence in the SACCO sector by providing members with greater assurance that their savings are protected and institutions are operating under enhanced safeguards.
“Effective licensing and proportional regulation help to build public trust and confidence in the SACCO sector,” he said.
He said regulatory oversight would also strengthen governance, accountability, risk management, financial reporting and internal controls, enabling SACCOs to become more financially sound and resilient.
Kalyango urged the newly licensed SACCOs to protect the trust of their members by ensuring that members’ funds are secure, accurately accounted for and readily available when needed.
