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IMPACT STORIES
From FAL to SACCO
Nakaseke Community Empowerment Savings and Credit Cooperative Society Limited is one of the best performing SACCO in Nakaseke District. The group started as a FAL (Functional Adult Literacy) Instructors Association and later Community Based Organisation (CBO) in 2008.
“We dealt in sensitising people to live a healthy lifestyle, prevent HIV/AIDS/malaria and take children to school and other community engagements”, says Jimmy Migadde, the chairman of the board. It was in 2010 when the CBO transformed into a SACCO and has since seen its membership grow from 46 members to over 800 now.
Migadde says they have savings amounting to 78 million UGX having grown from less than 200,000UGX in 2010. The group members also have over 32 million UGX in shares. Every share costs 10,000UGX.
“As FAL instructors, ADRA gave us bicycles and trained us on income-generating activities, like mixed farming, entrepreneurship, and skills development. We have used these skills to transform our lives”, he says. Peruth Nabilyo, the SACCO manager, says, “the SACCO has enabled members to come together and save their money and invest in productive enterprises. We have bought two pieces of land for the SACCO, one is a plot located in town where we shall build our offices, and another piece of land is where we want to do various activities like farming”. Currently, the members are reaping big from the SACCO, and many have been able to raise money to send their children to school, build houses, startup enterprises like cattle rearing among others.
Currently, the members are reaping big from the SACCO, and many have been able to raise money to send their children to school, build houses, startup enterprises like cattle rearing among others.
“Personally, from the SACCO trainings, I have learnt to save and invest appropriately. I get advice from the SACCO and a lot of my financial support”, Migadde says. Because of being a well-managed SACCO, the members were able to secure a loan of 34 million UGX from ADRA to boost the SACCO operations. “ADRA first gave us a grant of 15million UGX which we used very well. They later gave us a loan, and we are paying back very well. ADRA has aided us very much, and we are excited to celebrate with them these 30 years”, Migadde says.
Lilian Namaganda, urges more people in Nakaseke to join the SACCO and be able to develop economically. She notes that as members of the SACCO, they command respect in the community because of the productive things they are doing.
