The Uganda Medical Association Savings and Credit Cooperative (UMA SACCO) held its 14th Annual General Meeting (AGM) on March 28, 2026. The meeting highlighted a landmark year of financial growth, structural transparency, and the successful election of new leadership.

Financial Highlights & Performance

The SACCO demonstrated strong financial resilience and prudent management over the past year:

• Overall Growth: The SACCO grew to an Asset base of UGX 13.36Bn, loan portfolio of UGX 9.9Bn and Savings portfolio of UGX 6.43Bn.
• Risk Reduction: The Portfolio at Risk (PAR) was successfully lowered from double-digit to single-digit levels(8%), reflecting a major improvement in loan recovery.
• Compliance: Both the external Audit and the Supervisory Committee confirmed full compliance with cooperative standards, noting significant improvements in internal financial controls.

Key Resolutions Passed

To better serve its growing membership, the AGM approved several strategic resolutions:

• Higher Financing: The loan limit has been pushed up to UGX 300 Million for a period of 48months.
• Sustainability: Adoption of stricter measures to further strengthen loan recovery.
• Budgeting: Formal approval of the annual budget for the 2026 financial year.

A New Era of Leadership

Members exercised their democratic rights by voting via the new Finhazi System. Guided by the Vetting Committee led by Dr. Bakyenga Vincent and the DCO. the cooperative elected its new leadership team:

Board Members: Dr. Fauz Kavuma, Dr. Kisuule Ivan, Dr. Abel Nkolo, Dr. Sezi Mubeezi, and Dr. Kisakye Gloria.

UMA Representation

The UMA President delivered the keynote address, applauding the SACCO for its pivotal role in the financial empowerment of medical professionals in Uganda. He urged the new leadership and general assembly to champion unity, professionalism, and continuous innovation to sustainable growth of both UMA and UMA SACCO.

“With the loan portfolio now at UGX 9.9 Billion and governance strengthened through active member participation, the UMA SACCO AGM reaffirmed its commitment to transparency, accountability, and socio-economic empowerment of Uganda’s medical professionals.”