5 Mistakes Ugandans make When joining SACCOs
SACCO groups are one of the popular saving associations in Uganda from all parts of the country, from Kampala, Gulu, Soroti, all across sub regions. SACCOs in Uganda are grouped basing on different individual earning potentials and each location. Some SACCOs are run by and work within specific groups like Lira University Staff SACCO; this one is especially for only staff members. Another is village SACCO groups run by locals in a community like Obar SACCO. These village SACCOs are different in laws and regulations running them; they are organized in a way that suits a specific group of individuals created for. You can’t fix 1,000,000 UGX as a compulsory monthly saving amount on a village SACCO; this is possible only on SACCOs designed for a specific group of people. As a result, rules and regulations have to be different to suit each set of people the SACCO is located in. Due to the popularity of these SACCOs, many individuals are now attracted to start saving in them. That is why ...