The Ankole Diocese Millennium SACCO 2012 held her Annual General Meeting 2023 on 15th March, 2023 at Adit Mall Mbarara.
The AGM was graced by the Bishop of Ankole diocese and over 200 people attended.
Ankole Diocese Mellinnium Sacco was established in 2012 and currently it is one the fastest growing SACCO in Uganda at least for the last 10 years of it’s existence.
The Bishop while delivering a sermon at the AGM encouraged members to thank God who has helped the Sacco to grow. In this, he referred to David who was very thankful even when he was going through challenges knowing that at his appointed time, he would thrive. The Bishop asked members to just be transparent and disciplined not only in their payment of loans but also to be selfless so as to keep growing.
The Board chairman of the SACCO, Mr. Fred Tumwiine thanked everyone that has put in much effort to ensure the Sacco registers a progressive performance in the last 10 years. He appreciated those that have trusted the SACCO with accounts such as head teachers, government officials, and Kampala team for helping them to start a new branch and lawyers for always being in court when they have cases. He pledged that as a chairman of the Sacco, he will ensure that the members’ money is safe and asked that members should help the Sacco in doing recovery of loans. He also informed members that a new branch the 8th of the Sacco has been opened for operation at Ntinda stage Kampala.
The Bishop who is the founder patron of the Sacco thanked God for the proper performance that has come from 11.8bn in 2021 to 17.8bn in2022 which is about 50.8% increment. He assured members that once one buys shares, no one can ever chase them. He revealed that the highest shareholder in 2022 earned a cool one hundred and fifty million Ugandan shillings (150m)
Mr Atalyeba William, the Head of operations Wazalendo SACCO who was guest speaker applauded Millennium SACCO 2012 for the exciting statistics which were at a pace better than Wazalendo SACCO in the ten years of formation.
It was noted that Millennium SACCO 2012 made profit of 2.48 billion 2022 and each share earned 2359shs which is one of the best returns on investment in Ugandan market.
Mr Atalyeba applauded the Sacco for starting a branch at Ntinda in Kampala. He also thanked members for the good performance looking at the figures presented in the report and the 10years of progressive performance.
Current data of the SACCO shows:
Mobile banking services have been established
“M-SACCO” is accessible to members on MTN and AIRTEL lines. This helps members to transact on their accounts using mobile phones.
A brief of how the SACCO is standing in different portfolios as at 31st Nov 2022
- Membership. 21,044
- Savings 9.549 BN
- Loans 15.862 BN
- Shares 3.936 BN
- Gross profit 2.482BN
To become a member, one needs the following,
- 2 passport photos
- A copy of National ID
- Opening fee of 30,000.
One can buy shares as many as he wants but not beyond the cooperative Act guidelines of an individual owning more than 1/4(quarter) of the total shareholding of the Sacco
To God be the Glory.
Asasira Joanita Nancy
Diocesan Information and Communication Officer and Ag. East African Revival Museum Curator, Ankole Diocese.