PRESS RELEASE
The Uganda Cooperative Savings and a Credit Union wishes to inform SACCOs and the general public as follows:
On 29th January 2026, the Union, in collaboration with other stakeholders from Uganda Cooperative Alliance, had engagements with the Rt. Hon. Speaker of Parliament and later H.E. the President of the Republic of Uganda. The engagements focused on two issues namely; regulation of SACCOs and taxation of SACCOs. The key outcomes are as follows:
TAXATION[
The President agreed that SACCOs should not be taxed. Hence, the income tax exemption for SACCOs which was granted in 2017 and is set to expire on 30th June 2027 should be extended.
REGULATION OF SACCOS
The president also guided Bank of Uganda should halt its ongoing threats and directives targeted at stopping operations of SACCOs that have so far declined to apply for a licence from the Central Bank. The President guided that Bank of Uganda should only provide an oversight role on the flow of money in SACCOs but not take over control through regulations which do not consider the unique nature of SACCOs as cooperatives.
The President also guided that a stakeholders’ meeting chaired by the Hon. Speaker of Parliament of Uganda should be convened to define a fair, harmonized and enabling regulatory environment for the SACCO sector.
The above re-affirms the Government’s commitment to strengthening financial inclusion and protecting community and community-based cooperative institutions.
We extend our sincere appreciation to H.E. the President of the Republic of Uganda, Rt. Hon. Anita Among, the Speaker of Parliament of Uganda, Uganda Cooperative Alliance and all SACCOs and sector stakeholders for their continued support and engagement in advancing the cooperative agenda.
We urge SACCOs to remain calm, uphold professional conduct, and wait for further guidance from the Union.
Together, we continue to build a stronger, inclusive, and sustainable SACCO sector for Uganda.
Col. Allan Kitanda
Chairperson-UCSCU BoardThe Uganda Cooperative Savings and a Credit Union wishes to inform SACCOs and the general public as follows:
On 29th January 2026, the Union, in collaboration with other stakeholders from Uganda Cooperative Alliance, had engagements with the Rt. Hon. Speaker of Parliament and later H.E. the President of the Republic of Uganda. The engagements focused on two issues namely; regulation of SACCOs and taxation of SACCOs. The key outcomes are as follows:
TAXATION[
The President agreed that SACCOs should not be taxed. Hence, the income tax exemption for SACCOs which was granted in 2017 and is set to expire on 30th June 2027 should be extended.
REGULATION OF SACCOS
The president also guided Bank of Uganda should halt its ongoing threats and directives targeted at stopping operations of SACCOs that have so far declined to apply for a licence from the Central Bank. The President guided that Bank of Uganda should only provide an oversight role on the flow of money in SACCOs but not take over control through regulations which do not consider the unique nature of SACCOs as cooperatives.
The President also guided that a stakeholders’ meeting chaired by the Hon. Speaker of Parliament of Uganda should be convened to define a fair, harmonized and enabling regulatory environment for the SACCO sector.
The above re-affirms the Government’s commitment to strengthening financial inclusion and protecting community and community-based cooperative institutions.
We extend our sincere appreciation to H.E. the President of the Republic of Uganda, Rt. Hon. Anita Among, the Speaker of Parliament of Uganda, Uganda Cooperative Alliance and all SACCOs and sector stakeholders for their continued support and engagement in advancing the cooperative agenda.
We urge SACCOs to remain calm, uphold professional conduct, and wait for further guidance from the Union.
Together, we continue to build a stronger, inclusive, and sustainable SACCO sector for Uganda.
Col. Allan Kitanda
Chairperson-UCSCU Board