We are thrilled to announce that RWAKYAKIBUNYA SACCO will be holding its 24th Annual General Meeting on April 20, 2024, at our main branch in Kibiito. This year's meeting marks a significant milestone as we celebrate record-breaking financial performance and increased benefits for our valued members.
Record Financial Performance
In the fiscal year 2023-2024, our SACCO achieved unprecedented growth across all key performance indicators. Our total assets grew by 28% to reach UGX 18.5 billion, while our loan portfolio expanded by 32% to UGX 11.2 billion. Member savings increased by 25%, demonstrating the growing trust and confidence in our institution.
"This remarkable performance is a testament to the dedication of our members and the strategic vision of our management team. We are committed to ensuring that this success translates into tangible benefits for every member of our SACCO family."
Increased Dividend Payments
We are proud to announce that member dividends will increase by 15% compared to last year. This decision reflects our commitment to sharing our success with the members who make it possible. The dividend distribution will be based on:
- Share Capital: 12% dividend on shares held
- Savings: 8% interest on voluntary savings
- Patronage: 5% rebate on loan interest paid
Meeting Agenda Highlights
The AGM will cover several important agenda items that will shape the future of our SACCO:
- Presentation of audited financial statements for 2023-2024
- Approval of the 2024-2025 budget and strategic plan
- Election of three board members
- Amendment of SACCO bylaws to accommodate digital transformation
- Presentation of new service offerings for 2024
New Digital Initiatives
As part of our commitment to innovation, we will be launching several digital initiatives in the coming year:
Enhanced M-SACCO Mobile App
Our mobile application will receive a major upgrade with new features including loan applications, real-time transaction notifications, and financial literacy resources.
Digital Loan Processing
We are implementing a streamlined digital loan processing system that will reduce approval times from 48 hours to just 24 hours for qualified applicants.
Online Member Portal
A comprehensive online portal will allow members to access their accounts, view statements, and communicate with SACCO staff from any device.
Member Recognition Awards
During the AGM, we will recognize outstanding members in various categories:
- Top Saver of the Year
- Most Consistent Loan Repayment
- Member with Longest Tenure
- Youth Entrepreneur of the Year
- Women Empowerment Champion
We encourage all members to attend this important meeting and participate in the decision-making process. Your voice matters in shaping the future of our SACCO.
