1. Opening Remarks
The Guest of Honour, Distinguished Board Members, Esteemed Members of NSOBA SACCO, Invited Guests, and Strategic Partners,
It is my honour and privilege to welcome you to the 4th Annual General Meeting of NSOBA SACCO.
On behalf of the Board of Directors, I extend our sincere appreciation to all members for your unwavering commitment, trust, and contribution to the growth of our SACCO over the past three years. Your dedication remains the foundation upon which this institution continues to thrive.
2. Vision and Strategic Direction
The Board remains firmly committed to positioning NSOBA SACCO as the preferred financial institution for Ntare School alumni.
Our ambition is clear: to build a trusted, reliable, and member-centered financial institution that supports the economic empowerment of all Old Boys.
This vision is anchored in collaboration, discipline in savings, and a shared commitment to collective progress.
3. Performance Overview
I am pleased to report that as of March 2026:
• Membership stands at 340 members
• Assets Under Management (AUM) have grown to UGX 600 million, up from UGX 300 million in the previous financial year
This represents 100% growth, a strong indicator of resilience and confidence in a SACCO that is only three years into operation.
4. Growth Targets and Outlook
The SACCO has set ambitious but achievable targets:
• UGX 1 billion AUM by December 2026
• UGX 5 billion AUM by 2031
• Membership growth to at least 2,000 members
Achieving these targets will require:
• Increased member activation
• Consistent regular savings
• Collective participation across all member segments
Every contribution—large or small—remains critical. Our strength lies in collective effort.
5. Strategic Plan (2026–2031)
During the year, the Board finalized the SACCO’s first comprehensive Strategic Plan (2026–2031).
This plan:
• Provides a structured roadmap for growth and sustainability
• Aligns SACCO services with members’ financial needs
• Positions the SACCO as a one-stop financial solutions provider
The Board reaffirms its commitment to providing oversight to ensure full implementation of this strategy.
6. Digital Transformation and Systems Strengthening
To enhance efficiency and accessibility, the SACCO has invested in:
• A functional website
• A transaction tracking system
• Development of an e-wallet platform to support instant transactions
These investments are critical in modernizing operations and improving member experience.
7. Strategic Priorities for Growth
To unlock the next phase of growth, the Board has prioritized the following key areas:
7.1 Investment Units
Introduction of investment units to attract long-term capital, particularly from the diaspora community, enabling expansion and diversification.
7.2 Membership Growth
• Targeted recruitment across all cohorts
• Referral programs to incentivize member-driven growth
• Enhanced digital and social media engagement
7.3 Strategic Partnerships
Strengthening collaboration with:
• NSOBA
• Ntare School
• Ntare Lions League
• Investment clubs and cohort-based savings groups
Additionally, we are launching the “Ntare for Ntare” Charity Account, jointly managed by NSOBA leadership and the School, to support students under scholarship programs.
7.4 Promotion of Regular Savings
Encouraging a culture of disciplined saving, while benchmarking returns against leading SACCOs to remain competitive.
7.5 Product Development
Development of tailored financial products to meet diverse member needs, including partnerships with insurance providers to expand value offerings.
7.6 Human Resource Development
• Current staff: 3 permanent employees
• Planned recruitment of skilled professionals to support growth
• Gradual transition of operational roles from Board to management
7.7 Member Education and Training
• Structured training programs
• Regular needs assessments
• Increased awareness of SACCO products and services
8. Governance and Board Commitment
The Board remains committed to:
• Strong governance and accountability
• Strategic oversight
• Ensuring the successful execution of the Strategic Plan
We are confident that, with continued member support, the SACCO will achieve its long-term objectives.
9. Call to Action
I urge all members to:
• Actively participate in SACCO activities
• Prioritize regular savings
• Recruit new members
• Provide continuous feedback to strengthen the institution
Your engagement is indispensable to our success.
10. Conclusion
As we look ahead, we remain confident in our shared vision to grow NSOBA SACCO into a strong, sustainable financial institution.
Together, we will achieve:
• UGX 1 billion by December 2026
• UGX 5 billion by 2031
Let us move forward with unity, purpose, and determination.
The Lion Roars.
Benon Akandwanaho
Chairman, Board of Directors
NSOBA SACCO