The Katikkiro of Buganda, Charles Peter Mayiga, has called on members of savings and cooperative groups to ensure timely repayment of borrowed funds, saying financial discipline remains central to strengthening and sustaining Saccos.
Speaking in Kannabulemu in Buddu County, Mayiga commended communities in Buganda for embracing cooperative saving culture and acknowledged the role of Kabaka Ronald Muwenda Mutebi II in supporting the establishment of CBS FM, which later gave rise to CBS PEWOSA.
He said the initiative has not only improved household incomes among members but has also inspired the formation of several other Saccos that continue to play a key role in community empowerment and financial inclusion.
“Whenever you work together with other people, the benefits become even greater. That is why we must continue learning to move together, save money together, borrow responsibly, and repay loans on time so that our associations can continue to grow,” Mayiga said.
He warned that failure to repay loans undermines both individual progress and the sustainability of cooperative schemes, noting that many people who default on repayments struggle to achieve meaningful economic advancement.
“In many cases, a person who borrows money and fails to pay it back does not develop. I thank members of the cooperative groups in Kannabulemu and Kasaali for following the true principles of cooperation,” he added.
Mayiga praised Sacco members in Kannabulemu and Kasaali for what he described as discipline and unity in managing their financial groups, saying such practices are essential for long-term stability and trust within cooperatives.
Beyond financial matters, the Katikkiro also cautioned residents against the spread of HIV/Aids, urging them to remain vigilant and adopt responsible behaviour in order to protect their health and maintain productivity in their communities.
He emphasised that good health, combined with financial discipline and collective action, remains key to sustainable development at household and community levels in Buganda.