Bank of Uganda Licenses Two More Large SACCOs to Boost Financial Inclusion

What the report says

The Bank of Uganda has added two more large Savings and Credit Cooperative Organisations to its direct supervision, licensing Share An Opportunity SACCO in Zirobwe and Kihondo Tukwatanize SACCO in Fort Portal. According to Watchdog Uganda, the move brings the total number of large SACCOs overseen directly by the central bank to six.

The licences were presented at Bank of Uganda headquarters on Thursday, 6 August 2026, by Mackay Aomu, director of non-bank financial institutions, speaking for the executive director for supervision and regulation. The ceremony was attended by senior leaders from both SACCOs and officials from the bank’s supervision directorate.

Aomu urged the newly licensed institutions to stay connected to the communities they serve while strengthening transparency, accountability, internal controls and resource management. He also highlighted the importance of protecting members’ data and considering environmental, social and governance issues in their operations.

The development matters because regulated and well-governed SACCOs can widen access to affordable financial services, especially in areas where cooperative finance plays a major role. In general, central bank supervision is intended to support stability, member trust and financial inclusion, although the article does not provide further details on the specific oversight terms for the two SACCOs.