News
Prisons Sacco grows by sh 1.7b
“I do recall in the year 2005 when we came out with a plan of reviving this SACCO, the savings culture had died completely. The SACCO was not able to provide financial support to staff who were being swallowed up in bank loans,” Byabashaija observed
(L-R) Dr Johnson Byabashaija the Commissioner General of prisons interacts with the Deputy Commissioner General of Prison Samuel Akena shortly after the Prison's Sacco Annual General meeting that took place on March 26, 2026. (Credit: Petride Mudoola)
By: Petride Mudoola, Journalist @New Vision
KAMPALA - The Uganda Prisons Savings and Credit Cooperative Society (SACCO) Limited has registered growth of sh1.7b in 2025.
In 2024, the SACCO registered a sh1.4b growth, according to a report released during the SACCO's 18th Annual General Meeting last week.
In terms of membership share capital, the Prison’s SACCO registered sh6.5b in 2023, sh7b in 2024, and sh7.3b in 2025, constituting a 12.3% growth over the years.
According to the report, the loan portfolio grew from sh4b to sh6b, while the SACCO's total assets stand at sh12.9b. This represents a 70% growth in the last three years.
“I would like to commend the board supervisory committee and management staff for steering the SACCO through a challenging economic environment, while upholding cooperative values. I also thank you, the members whose loyalty and patronage remain the engine of our growth,” the Commissioner General of Prisons, Dr Johnson Byabashaija, said.
“I do recall in the year 2005 when we came out with a plan of reviving this SACCO, the savings culture had died completely. The SACCO was not able to provide financial support to staff who were being swallowed up in bank loans,” Byabashaija observed.
The prison’s chief recalled that he advised prison staff to join the SACCO as the solitary financial guarantee.
“I personally took responsibility to convince staff to join the SACCO as being the only way that could bail them out of that bad situation. Today, I feel so proud to see the SACCO in its current status and level of growth registered over time,” he said.
Samuel Akena, the Deputy Commissioner General of Prisons, who doubles as the Chairperson of the Supervisory Committee of the SACCO, recommended strengthening the behavioural appraisal of loan applicants to mitigate loan delinquency resulting from desertion.
Akena cautioned the SACCO members against acquiring external loans, noting that, “with high interest rates, external loans place you in very difficult financial conditions.”
“I do recall in the year 2005 when we came out with a plan of reviving this SACCO, the savings culture had died completely. The SACCO was not able to provide financial support to staff who were being swallowed up in bank loans,” Byabashaija observed.
The prison’s chief recalled that he advised prison staff to join the SACCO as the solitary financial guarantee.
“I personally took responsibility to convince staff to join the SACCO as being the only way that could bail them out of that bad situation. Today, I feel so proud to see the SACCO in its current status and level of growth registered over time,” he said.
Samuel Akena, the Deputy Commissioner General of Prisons, who doubles as the Chairperson of the Supervisory Committee of the SACCO, recommended strengthening the behavioural appraisal of loan applicants to mitigate loan delinquency resulting from desertion.
Akena cautioned the SACCO members against acquiring external loans, noting that, “with high interest rates, external loans place you in very difficult financial conditions.”