A SACCO licence in Uganda is mandatory for any Savings and Credit Cooperative Society intending to provide financial services. The licence is issued by the Uganda Microfinance Regulatory Authority (UMRA), in accordance with the Tier 4 Microfinance and Money Lenders Act, 2016. Before applying for the licence, a SACCO must first be registered as a cooperative society under the Cooperative Societies Act.
Procedure to Get a SACCO Licence in Uganda
To obtain a SACCO licence in Uganda, follow these steps carefully to ensure approval within the 21-day processing period.
- Confirm Registration – Ensure your SACCO is fully registered under the Cooperative Societies Act.
- Prepare Documentation – Collect all background and supporting information required by UMRA.
- Fill the Application Form – Obtain and complete the official SACCO Licence Application Form.
- Attach Supporting Documents – Include your registration certificate, organizational structure, business plan, and credit policies.
- Pay Application Fees – Pay the UGX 50,000 non-refundable fee to UMRA and attach the receipt.
- Submit Application – Deliver the filled form, required documents, and payment slip to the Finance Officer in charge of SACCO registration.
- Await Approval – The processing time is 21 working days. If approved, your SACCO licence certificate will be ready for collection.
Required Documents
Applicants for a SACCO licence in Uganda must attach the following certified documents:
- Certificate of Registration under the Cooperative Societies Act
- Tax Identification Number (TIN) certificate
- Memorandum and Articles of Association showing a core capital of at least UGX 5 million
- Registered business address for all locations (head office, branches, or agencies)
- Proof of payment of application fee
- Certified copies of directors’ and secretary’s particulars
- National Identity Cards and Certificates of Good Conduct for all directors
- Business plan, organizational structure, and credit policy documents
- Interest rate schedules and financial statement
Eligibility
To qualify for a SACCO licence in Uganda, the society must:
- Promote the economic and social interests of its members
- Operate strictly on cooperative principles
- Demonstrate the ability to offer sustainable financial services
Fees
The following fees apply for obtaining and maintaining a SACCO licence in Uganda:
| Fee Type | Amount (UGX) |
|---|---|
| Licence Fee | 2,000,000 |
| Renewal Fee | 2,000,000 |
| Registration Fee | 50,000 |
| Bye-laws (Savings & Credit) | 15,000 |
| Bye-laws (Multi-purpose) | 10,000 |
| 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. Failure to renew the licence before expiry may lead to cancellation.
Contact Information
Uganda Microfinance Regulatory Authority (UMRA)
Rwenzori Towers, Block B, Ground Floor, Plot 6 Nakasero Road
P.O. Box 11545, Kampala
📞 +256 417 799 700 | Toll-Free: 0800 111 449
✉️ [email protected] / [email protected]
Uganda Cooperative Savings and Credit Union (UCSCU)
Plot 239 Maganjo, Bombo Road, Kampala
📞 +256 414 233 601 | ✉️ [email protected]
Registrar of Cooperative Societies
Ministry of Trade, Industry and Cooperatives
Farmers House, Parliament Avenue, Kampala
📞 +256 312 324 000 | +256 414 230 916
Important Notes
- A SACCO may provide financial services only to its members.
- The SACCO name must include “Savings and Credit Cooperative Society” or “SACCO.”
- Borrowing is limited to the thresholds prescribed by UMRA.
- Providing false information in an application is punishable by a fine or imprisonment.
Benefits of Licensing
Obtaining a SACCO licence in Uganda offers:
- Legal recognition and protection from the government
- Easier access to insurance and investment opportunities
- Improved credibility among members and partners
- Operational continuity even after founder exit
- Creation of employment opportunities within the community
