POLICE | EXODUS | SACCO

KAMPALA - The saving scheme of the Uganda Police Force, Exodus Savings and Credit Co-operative Society (SACCO) Ltd, has elected a new board of directors. 

The leadership is expected to steer the SACCO till 2027.

The new board of directors was elected during the SACCO's 10th annual general meeting at the Police headquarters in Naguru, Kampala. The AGM was attended by delegates who represented SACCO members from across the country.

However, some members of the former board (2019-2023) retained their positions, including chairperson Dr Wilson Omoding Otunna who was elected unopposed.

Otunna will be deputised by Emitu Ezekiel Ebapu, who replaced Abubaker Ziwedde.

The chairperson the Exodus Police SACCO, Dr. Omoding Wilson, talks to journalists after retaining his position during their 10th Annual General Meeting of the Exodus Police SACCO at Uganda Police Force headquarters Naguru in Kampala on March 23 2023. (All Photos by Ronnie Kijjambu)

Eddie Ssekanjako and Simeo Omalla retained their jobs as treasurer and board secretary, respectively.

Other members of the board are Mary Nankinga, Gift Kemigabo, Danniel Ogwok, Jonathan Musingunzi and Allan Nshimiye Rugayampunzi.

A supervisory board will consist of Hadijah Namutebi as chairperson, Haluna as vice-chairperson and Jackson Amali as treasurer.

A new era of transparency

Started in 2007, members of the Exodus SACCO are police officers whose savings are directly deducted from their salary accounts by virtue of being Police officers.

Under the theme: “A new era of Transparency,” the meeting also included the release of the 2022 annual report, which showed a growth in various aspects of the SACCO’s business. The membership increased from 42,719 to 42,990. Member savings grew from 25.5 billion to 30.76 billion shillings.

Total assets grew to shillings 57.36 billion from shillings 46.03 billion in 2021. Interest income grew from shillings 2.95 billion to shillings 3.89 billion, while share capital grew from shillings 6.4 billion to shillings 9.44 billion. In 2022, loans to members were shillings 30.92 billion, up from shillings 16.4 billion the previous year.

The aspiring candidates stand before the delegates of the Exodus Police SACCO for elections.

Otunna said the management will this year increase investment in technology to improve access to the SACCO’s financial services, transparency and enhancing digital platforms for information sharing among members and management.

“With continued investment in technology, we shall sustainably unlock future growth opportunities while managing costs. We have created self-service platforms such as a website that will also keep the members abreast with the operations ad activities of the society,” he said.

This follows various reports, some presented to Parliament, from Police officers who complained about various challenges, including access to their savings.

Inspector General of Police (IGP), Martins Okoth-Ochola, who is the SACCOs patron, asked the new leadership to intensify its operations to improve its financial services to enable it voluntarily attract new members, retain and satisfactorily serve the existing ones.

“This specific SACCO was started with a background that the resource envelope from the government cannot be adequate to address all our officers’ needs. I implore the new SACCO leadership to be transparent, improve on customer care, embrace modern technology, reach out, sensitize, and attract other police officers to voluntarily join and strengthen the financial stability of the SACCO,” he said.