Police Elects New Board Members to its SACCO

The savings scheme of the Uganda Police elected new members to its board that will serve up to 2027. Elections were held on Wednesday during the 10th Annual General Meeting of Exodus Savings and Credit Cooperative Society Ltd (SACCO) at the police headquarters in Naguru, Kampala.  Over 260 delegates cast their votes. 

Some members of the previous board, which served from 219-2023, were retained, including the Board Chairman SCP Dr. Wilson Omoding Otuna who was unopposed and will be deputized by ACP Emittu Ezekiel Ebapu.

ASP Eddy Ssekanjako retained his position as treasurer and Simeo Omalla was retained as secretary. Other elected members to the board are ASP Rugayampuzi Allan Nshimiye, SSP Musinguzi Jonathan, ASP Kemigabo Gift, ASP Nankyinga Mary, PC Omalla Simeo, PC Ogwak Daniel, SCP Namutebi Hadijah, ASP Amaali Jackson and ASP Matovu Haruna.

The SACCO, which was started in 2007,  has grown members' savings to Shs30.76 billion, according to its 2022 annual report, which also indicates it has 42,990 members. Assets have grown to Shs57.36bn.

Speaking at the event, IGP Okoth Ochola said: "This specific Sacco was started with a background that the resource envelope from the government cannot be adequate to address all our officers’ needs." He added: "Similarly, commercial banks have hostile and bureaucratic policies with high-interest rates that cannot accommodate our daily financial requirements.  The commercial Banks were also exposing the majority of our officers to extreme poverty, hardships and enormous financial difficulties. Therefore, there was a need for an Association where officers jointly collect financial resources, invest, protect, lend, and support themselves at low-interest rates."