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Bank of Uganda steps up drive to license large SACCOS
Licensed SACCOs will also be able to use credit reference bureau services to assess borrowers and improve their overall financial discipline and regulatory compliance.
The central bank says any SACCOS that meets both of the two fi nancial thresholds must apply for a licence.
By: Ali Twaha, Journalist @New Vision
KAMPALA - The Bank of Uganda (BOU) has directed that large savings and credit cooperatives societies (SACCOs) must obtain licences, outlining the fees and penalties for those that