UGANDA LAUNCHES NATIONAL COOPERATIVE BANK TO BOOST INCLUSIVE ECONOMIC GROWTH

18th September 2025, Kampala, Uganda – In a historic milestone for Uganda’s cooperative movement, cooperators, government institutions, the private sectors, development partners and other stakeholders from across the country convened to celebrate the achievements of cooperatives and witness the official launch of the National Cooperative Bank. Over 46,000 registered cooperatives serving more than eight million cooperators nationwide gathered at UMA Show Grounds Lugogo, to celebrate this milestone.

Celebrating Achievements and Growth
The conference opened with remarks from the Board Chair, Mr. Jonas Tweyambe, who welcomed participants and introduced all board members. Highlighting the growth and resilience of cooperatives, he thanked the President for fostering peace and stability, which have enabled the cooperative sector to thrive. Mr. Tweyambe also recognized the invaluable contributions of key partners, including the judiciary, Parliament, Ministry of Trade, Centenary Bank, Post Bank, Makerere University Business School, and numerous SACCOs such as Wazalendo and Exodus SACCO, for supporting the cooperative movement.

CPA Ivan Asiimwe, the General Secretary of UCA, reiterated that the Uganda Cooperative Alliance (UCA) remains the apex body for all cooperatives in the country. He thanked the President and Cabinet for their continued support, recognizing the critical role of cooperatives in employment creation—currently employing over 200,000 Ugandans—and contributing significantly to Uganda’s GDP. He also highlighted cooperatives’ increasing engagement in agro-processing and skills development, emphasizing the sector’s transformation into a professional, people-centered movement.

Insights from Experts
Dr. Fred Muhumuza, gave the key note speech, and emphasized the importance of establishing a strong advisory framework within the National Cooperative Bank, ensuring alignment with government policies while promoting sustainability, inclusivity, and compliance.

Mr. Patrick Nyanga, the General Managing Director of CIC Group in Nairobi, Kenya, shared lessons from his tenure at Kenya’s Cooperative Bank, which grew from a small, loss-making institution in 1968 to the third-largest bank in Kenya, owned by cooperatives. He highlighted key pillars of cooperative banking: inclusivity, democratic governance, community accountability, sustainability, and leveraging technology. Nyanga urged Ugandan cooperatives to invest in financial literacy, business acumen, and digital transformation to bridge financing gaps and empower members. “Learn from what collapsed the first Cooperative Bank of Uganda, and try not to repeat it so that this newly re-established time can stand the test of time”, said Mr. Nyaga. The Cooperative Bank of Kenya currently boasts of over 26 trillion Uganda Shillings in capitalization and it has branches across the country.

Wazalendo SACCO Sets a Benchmark
Gen Sam Kavuma, Chairman of Wazalendo SACCO, shared insights on building a strong cooperative organization. From a modest beginning with 30 members, Wazalendo now serves over 116,000 members, has disbursed more than 3.5 trillion UGX in loans, and holds assets totaling 1.2 trillion UGX. Kavuma emphasized five guiding principles for cooperative success: member-formed, member-owned, member-financed, member-managed, and member-beneficiary. He urged members to embrace the notion of saving however little they can start with.

The Launch of the National Cooperative Savings and Credit Society Limited.

The Highlight of the day was the Launch of the National Cooperative Savings and Credit Society Limited, a precursor to the National Cooperative Bank of Ugand. Hon. Francis Mwebesa, the Cabinet Minister of Trade, Industry and Cooperatives officially launched the bank and handed over the certificate of registration for the National Cooperative Bank, marking a key milestone in Uganda’s cooperative sector. In his speech, he recognized the critical role of government, Parliament, and the Ministry of Trade in providing a conducive legal and regulatory environment, including tax waivers and digital systems for financial management. He called upon the policy makers and cooperators to streamline cooperative laws, establish a single regulator, and promote arbitration and dispute resolution mechanisms.

Looking Ahead
The event concluded with calls for cooperators to embrace technology, sustainability, and shared responsibility while fostering partnerships across the East African region. Stakeholders emphasized the cooperative movement’s potential to drive inclusive economic growth, empower youth and women, and integrate Uganda into broader African markets.

The launch of the National Cooperative Bank signals a new era for Uganda’s cooperatives—one focused on equity, accountability, sustainability, and innovation, ensuring that the sector remains a cornerstone of the country’s economic development.

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