Bank of Uganda retains supervisory authority as per the Act of Parliament.
Mr. David Kalyango, Executive Director Supervision, Bank of Uganda. Misconceptions about SACCO regulation continue to circulate – let’s set the record straight.
The MDI Amendment Act remains in force, and the Bank of Uganda retains full regulatory authority over large SACCOs.
As we roll out the enforcement process, our priority remains sensitisation, collaboration, and sector-wide organisation.
Working jointly with UMRA, Ministry of Finance, Planning and Economic Development (MoFPED) and Ministry of Trade, Industries and Cooperatives (MTIC), we are engaging SACCOs across the country to support smooth compliance. Sanctions for non-compliance exist, but our focus for now is awareness, guidance, and building a stronger, safer SACCO sector.
