UMI Alumni Form Sacco, EALA Aspirant Ronald Mivule elected Interim Chairperson

KAMPALA: A section of the Uganda Management Institute ( UMI) Alumni have formed a Savings and Credit Cooperative Organization [SACCO], electing Mr. Ronald Mivule, the former chairperson of the association and EALA aspirant, their interim Chairperson.

The members said their new SACCO which they launched on Sunday in Uganda’s Capital Kampala will empower them financially.

“Now that we have formed our SACCO, I urge everyone to be transparent especially us in the leadership and we deliver up to the members expectations so that we can all benefit from it. Many SACCOs have collapsed because of leadership’s failure to give accountability,” Mivule committed on behalf of the interim leadership.

Other members on interim leadership include; Nyabwolo Zitta Norah –Vice Chairperson, Lumumba Patrick-Secretary, Ochola Immaculate-Treasurer. The members of the interim leadership Committee are ;Twine Charles, Ochoo Ronald, Najjumba Suzan, Niwamanya Mudasiru, Prof. Levi Musinguzi ,Nimusima Daphne and Owora Henry.

“Having our own SACCO clearly shows that we mind about the welfare of al members who have gone through this institution. With this SACCO, we can at least lobby some support from government because government is now supporting organized groups”, added Mivule.

Mivule who spearheaded the formation of the Sacco called upon government to support their SACCO so that it can grow fast.

“Many people have been empowered financially through SACCOs. They have developed through savings and credit at a very affordable interest rate on loans. People have managed to pay school fees for their children through acquiring loans from these SACCOs and many more,” he said.

He noted that their SACCO will help members to establish businesses that can help them to improve on their incomes and grow their financial base.

Mivule added all colleagues who haven’t joined the SACCO to join, save and be able to acquire loans at an affordable interest rate.

Mivule served as the President of the UMI Alumni from 2015 to 2022, served as a member of the UMI Governing council where he chaired the programs committee and the quality assurance committee of the Governing council.

He is passionate about the integration of East Africa and contested for EALA in 2022.

Their mission is to mobilize all the Alumni to contribute to the enhancement of the intellectual and material well-being of UMI through the Sacco.

The formation of the SACCO will promote welfare & economic interests of members; providing savings & credit facilities at favorable interest rates; training members in business skills; poverty reduction and cooperation among others.