Amid persistent salary delays and low pay, Uganda’s teachers are relying on UNATU SACCO as a financial lifeline, with the cooperative posting a Shs276 million surplus in 2024 and demonstrating resilience in supporting members’ savings and loans.
Teachers across Uganda continue to struggle with delayed salaries and low pay, leaving many unable to meet basic needs.
Over the years, these financial pressures have led educators to turn to SACCOs and microfinance institutions for support, fueling nationwide strikes and calls for government interventions.
At the 10th Annual General Meeting (AGM) of UNATU SACCO held in Kampala, Chairperson Zadock Tumuhimbise presented the performance report for the period January 1 to December 31, 2024.
The SACCO recorded a surplus of Shs276,901,901, a sharp increase from Shs7,519,197 in 2023.
“This growth shows the resilience of our members, but we must also safeguard the future of our SACCO. Withdrawals are depleting our strength, and we must work together to rebuild confidence and encourage saving,” Tumuhimbise said, stressing that the cooperative has not relied on external borrowing and depends solely on members’ contributions.
The SACCO continues to serve as a crucial financial buffer, allowing teachers to save collectively, access affordable loans, and invest in income-generating activities.
Unlike many cooperatives that have collapsed under economic pressure, UNATU SACCO has maintained steady growth despite its members’ financial hardships.
However, concerns remain over the continued withdrawal of member savings. Officials warned that unchecked withdrawals could weaken the SACCO’s financial stability and jeopardize its capacity to support teachers.
The AGM reaffirmed the importance of SACCOs as vital support systems for educators, particularly in a climate of unresolved salary disputes and persistent economic challenges.