Cooperators Call for Financial Empowerment, Education and Youth Inclusion at National Symposium
Fort Portal City, July 4, 2025 — In a powerful display of unity and purpose, cooperators, government leaders, development partners, and academia convened at Nyaika Hotel in Fort Portal City to commemorate the International Day of Cooperatives 2025 under the resonant global theme “Cooperatives Build a Better World.” The national symposium served as a vibrant space for dialogue, reflection, and renewed commitment to a cooperative model that is inclusive, empowering, and aligned with Uganda’s economic transformation agenda.
The event opened with remarks from Ms. Khadija Nakakande, who applauded the Ministry of Trade, the Uganda Cooperative Alliance (UCA), Uganda Savings and Credit Cooperative Union, and development partners for organizing a well-executed symposium. Representing the Minister of Trade, the Assistant Commissioner for Cooperatives emphasized the central role cooperatives play in Ugandan society, noting that over 6,000 cooperatives had been registered as of June 15. He highlighted their impact on job creation, particularly through industrial hubs designed to absorb graduates, and called on cooperatives to actively support government-led initiatives such as the Parish Development Model (PDM) and Emyooga. Acknowledging the contribution of international partners, he commended the Korean Federation for promoting youth-focused cooperatives, emphasizing that sustainable development is impossible without youth inclusion.
The symposium was part of a week-long celebration that saw cooperators participate in a tree-planting campaign, a blood donation drive, and a cooperative run, all of which underscored the commitment of the cooperative movement to both environmental sustainability and social responsibility. Agatha Katusiime extended a warm welcome to the participants and recognized the historical role cooperatives have played in uplifting communities. A moment of recognition was given to Anthony Butera, a longstanding figure in Uganda’s cooperative movement, alongside political, cultural, and religious leaders, including representatives from the Tooro Kingdom, for their unwavering support and contributions.
A defining moment of the day came with the announcement on the Cooperative Bank, a long-anticipated institution set to revolutionize financial access for cooperatives across the country. A UCA representative revealed that cooperators had formally agreed to proceed with its formation following resolutions passed on June 17, 2025. Key requirements were shared with clarity: each cooperative would contribute UGX 1 million in share capital, pay a membership fee of UGX 100,000, and submit a board resolution along with registration documentation. The steering committee responsible for launching the bank was confirmed as voluntary and unpaid, a gesture reflecting commitment to the cooperative cause. The bank aims to serve as a central financial hub, consolidate cooperative finances, and promote sustainable investment. Drawing inspiration from global examples like Rabobank in the Netherlands, Kenya’s Cooperative Bank, and the newly launched cooperative bank in Tanzania, which raised TZS 25 billion in April, the announcement sparked a sense of urgency for Uganda to advance in the same direction.
Delivering the keynote address, senior economist Dr. Fred Muhumuza underscored the importance of mindset change, stressing that sustainable cooperatives require professional governance and strategic foresight. He warned against common pitfalls such as board interference in daily operations and advocated for the hiring of qualified professionals to manage cooperative affairs. He further emphasized the need to revise Uganda’s cooperative regulatory framework, improve access to finance, and ensure that the future cooperative bank is well-integrated into the country’s digital economy. He urged participants to study successful models from countries like Japan and Germany to inform Uganda’s next steps.
Echoing the call for transformation, Professor Mindra from Makerere University Business School (MUBS) stressed that education lies at the heart of any sustainable cooperative system. He made a passionate appeal for cooperative studies to be introduced from primary school through to university, underscoring the need for an informed generation of future cooperative leaders. He shared that MUBS, in collaboration with UCA and Moshi Cooperative University, is developing training programs aimed at improving cooperative governance and management across the country.
The plenary session was a moment of candid reflection and critical inquiry. Participants raised concerns over the proliferation of “briefcase” SACCOs and the limited access to ongoing cooperative education. Mercy, a spirited participant, urged cooperatives to recognize and celebrate their achievements while continuing to educate members on their purpose and responsibilities. Another participant, Justine, movingly shared her personal journey of transformation through cooperative education, highlighting its impact on her personal and professional development.
In a show of support from the financial sector, Tunde Thorpe from Stanbic Bank emphasized the critical role of partnerships in expanding access to finance, particularly for women, youth, and farmers. He reiterated Stanbic’s commitment to working with cooperatives to strengthen financial systems and promote economic inclusivity.
As the symposium concluded, a powerful consensus emerged: Uganda’s cooperatives must commit to professionalism, invest in education at all levels, and accelerate the establishment of the Cooperative Bank. With the continued support of government, academia, the private sector, and international partners, the cooperative movement stands on the threshold of becoming a transformative force in the nation’s economic development.
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