A SACCO Licence in Uganda is a mandatory requirement for any Savings and Credit Cooperative Society wishing to offer financial services legally. The process is overseen by the Uganda Microfinance Regulatory Authority (UMRA), which regulates all Tier 4 microfinance institutions under the Tier 4 Microfinance and Money Lenders Act, 2016. Before applying, the SACCO must be registered as a society under the Cooperative Societies Act.
Application Procedure
To obtain a SACCO Licence Uganda, start by ensuring that your society is officially registered. Then prepare all necessary documentation and background details as guided by UMRA. Applicants must fill out the official SACCO Licence Application Form and attach the required documents. After completing the form, pay the non-refundable application fee of UGX 50,000 to UMRA and submit the filled-in application along with proof of payment to the Finance Officer in charge of SACCO Registration.
If the application meets all requirements, UMRA will issue the SACCO licence within 21 working days from the date of submission.
Required Documents
Applicants must attach several certified documents, including:
- Certificate of registration under the Cooperative Societies Act
- Tax Identification Number (TIN) certificate
- Memorandum and Articles of Association showing at least UGX 5 million core capital
- Organizational structure and management details
- Business plan
- Credit and lending policies
- Proof of official business address (head office and branches)
- National IDs and certificates of good conduct for directors
- Proof of payment of the licence application fee
- Statement of objectives and evidence of membership and shareholding
These attachments prove the SACCO’s legitimacy, financial stability, and operational readiness to offer savings and credit services.
Eligibility
A SACCO qualifies for licensing if it exists solely to promote the economic and social welfare of its members according to cooperative principles. It must also demonstrate capacity to provide sound financial services to its membership base.
Fees and Payments
All SACCOs are required to pay the following fees:
| Type | Amount (UGX) |
|---|---|
| Licence Fee | 2,000,000 |
| Renewal Fee | 2,000,000 |
| Registration Fee | 50,000 |
| Cooperative Bye-laws | 10,000–15,000 |
| Business Name Search | 2,200 |
| Name Reservation | 20,000 |
Payment Account: 6000010330, Barclays Bank IPS Branch
The licence remains valid for one year, expiring on 31 December. Renewal must be done annually; otherwise, the licence may be cancelled.
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
Tel: +256 414 233 601
Email: [email protected]
Registrar of Cooperative Societies
Ministry of Trade, Industry and Cooperatives
Farmers House, Parliament Avenue, Kampala
Tel: +256 312 324 000 / +256 414 230 916
Key Requirements and Regulations
Every licensed SACCO in Uganda must:
- Serve only its registered members
- Include the word “SACCO” in its name
- Operate within UMRA’s borrowing limits
- Maintain proper governance and sound financial practices
Submitting false or misleading information during the application process is a punishable offence and may lead to fines or imprisonment.
Why the SACCO Licence Matters
Obtaining a SACCO licence ensures legal recognition, protects members’ savings, and builds public confidence. A registered SACCO enjoys limited liability, can access insurance or investors, and creates employment opportunities in local communities. It also ensures continuity, allowing operations to continue even if the founders pass away.