By David Isabirye
IGANGA- Teachers’ SACCOs -in the Teso, Elgon and Busoga Subregion are set to receive a significant financial boost as the government launches new funding through the Presidential Initiative for Teachers.
At a stakeholder engagement event held in the three subregions, Caroline Atai, General Manager of Walimu Cooperative Union Limited, announced that each district teachers’ SACCO in the region will receive UGX 500 million shillings to strengthen their financial base in alternative income sources and support the economic advancement of teachers.
“These evolving funds aim to improve the livelihoods of teachers and their households by enhancing access to affordable soft loans and credit,” said Atai.
She revealed that over UGX 3 billion has already been allocated to the Teso region. Of that amount, more than UGX 2 billion has been successfully repaid.
Kumi Progressive Teachers’ SACCO, Amuria Teachers’ SACCO, and Kalaki Teachers’ SACCO have been recognized for their exemplary repayment performance.
Atai urged SACCOs and individual borrowers who have not yet cleared their loans to fulfill their obligations, emphasizing that the program is under close supervision by multiple stakeholders to ensure transparency and accountability. “This is a government-led initiative, and we have involved other actors to support monitoring and implementation, all aimed at enhancing teachers’ welfare,” she added.
Stephen Olinga, National Vice Chairperson of the Union, reaffirmed that the primary goal of the fund is to increase teachers’ incomes and promote financial self-reliance through their SACCOs.
He highlighted that teacher can utilize these loans to engage in productive activities that supplement their earnings.
The digital loan disbursement system introduced by the Union ensures more efficient management and prevents duplication of loans across different SACCOs.
Olinga also commended high-performing SACCOs such as Amuria and Kumi Progressive for their disciplined repayment, which has qualified them for additional financial support.
Moses Omagor, Chairperson of Amuria Teachers’ SACCO, attributed their impressive 97% repayment success rate to a strict vetting process, close coordination with district education officials, and peer appraisals.
He noted that final loan decisions rest with the SACCO’s board, ensuring accountability and fairness.
Omagor stated that Amuria Teachers’ SACCO, which has over 300 members, initially received UGX 280 million and currently has an outstanding loan balance of just UGX 60 million.
The SACCO plans to use the additional UGX 500 million to increase access to credit for its members.
“Teachers present a variety of project proposals. The most successful ventures include poultry farming, goat rearing, small retail businesses, and support for school fees, all of which contribute to their economic resilience,” he explained.
The new funding is anticipated to stimulate further growth in teacher-led enterprises, enhance financial inclusion, and further develop the local economy across the Teso Subregion.
Teachers are encouraged to save consistently and borrow wisely, while SACCO leaders are reminded to protect their institutions from political interference, which can undermine trust and long-term sustainability.
