A SACCO licence in Uganda is mandatory for any Savings and Credit Cooperative Society intending to provide financial services. The Uganda Microfinance Regulatory Authority (UMRA) issues this licence under the Tier 4 Microfinance and Money Lenders Act, 2016. Before applying, the SACCO must first be registered under the Cooperative Societies Act.
Obtaining a licence ensures that the SACCO operates legally, gains government recognition, and maintains the trust of members and investors.
Procedure for SACCO Licence in Uganda
To get a SACCO licence in Uganda, follow these steps carefully:
- Register the SACCO
Confirm that your society is registered under the Cooperative Societies Act. - Prepare Documentation
Gather all necessary documents and background details as prescribed by UMRA. - Fill the Application Form
Obtain the SACCO licence application form from UMRA and fill it accurately. - Attach Required Documents
Include certified copies of the certificate of registration, the organizational structure, the business plan, and the SACCO’s credit and lending policies. - Pay Prescribed Fees
Deposit the non-refundable application fee of UGX 50,000 to UMRA’s designated account and retain the payment slip. - Submit the Application
Submit the completed form with all attachments and proof of payment to the Finance Officer in charge of SACCO Registration at UMRA. - Await Processing
The processing period takes up to 21 working days, after which the SACCO licence certificate is issued if approved.
Required Documents
When applying for a SACCO licence in Uganda, attach the following certified documents:
- Certificate of Registration under the Cooperative Societies Act
- Tax Identification Number (TIN) certificate
- Memorandum and Articles of Association showing minimum UGX 5 million core capital
- Proof of official business address and branches
- Proof of payment for the application fee
- Particulars and national IDs of directors and the company secretary
- Certificates of good conduct for directors
- Copy of interest rate structure for loan products
- Business plan and organizational chart
- Credit and lending policy documents
Eligibility Requirements
To qualify for a SACCO licence in Uganda, a society must:
- Operate according to cooperative principles
- Aim to promote the economic and social interests of its members
- Demonstrate the ability to offer reliable financial services
Fees and Charges
| Type | Amount (UGX) |
|---|---|
| Licence Fee | 2,000,000 |
| Renewal Fee | 2,000,000 |
| Registration Fee | 50,000 |
| Cooperative Bye-laws | 10,000–15,000 |
| Name Search | 2,200 |
| Name Reservation | 20,000 |
Payment Account: 6000010330 – Barclays Bank IPS Branch
Validity and Renewal
The SACCO licence is valid for one year, expiring on 31 December annually. A SACCO must renew the licence before expiry to avoid cancellation.
Processing Time
The entire process takes a maximum of 21 days from the date the complete application is received by UMRA.
Office Contacts
Uganda Microfinance Regulatory Authority (UMRA)
Rwenzori Towers, Block B, Ground Floor, Plot 6 Nakasero Road, Kampala
P.O. Box: 11545 Kampala
Phone: +256 417 799 700 | Toll-Free: 0800 111 449
Email: [email protected] / [email protected]
Uganda Cooperative Savings and Credit Union (UCSCU)
Plot 239 Maganjo, Bombo Road, Kampala
P.O. Box: 7103 Kampala
Tel: +256 414 233 601
Email: [email protected]
Registrar of Cooperative Societies
Ministry of Trade, Industry and Cooperatives
Room 608, Farmers House, Parliament Avenue, Kampala
Tel: +256 312 324 000 / +256 414 230 916
Key Guidelines
- A SACCO must serve only its members.
- The SACCO name must include the words “Savings and Credit Cooperative Society” or “SACCO.”
- Borrowing must remain within the limits prescribed by UMRA.
- Providing false or misleading information during application is a criminal offence.
Why Obtain a SACCO Licence in Uganda
Getting a SACCO licence in Uganda offers several benefits:
- Legal recognition and protection by the government
- Enhanced trust from investors and members
- Access to insurance and funding opportunities
- Assurance of operational continuity even after founders leave
- Contribution to employment and community development
In summary, obtaining a SACCO licence ensures compliance, stability, and credibility in Uganda’s cooperative financial sector. Every SACCO must meet UMRA’s requirements to safeguard members’ savings and sustain operations.
