SACCO INDUSTRY: Fragmented regulators causing confusion
The Uganda central co-operative financial services, with a membership of 400 co-operatives across the country, is urging the government to fast track the harmonisation of law and regulations governing SACCOs and avert a legal crisis which has caused confusion and huge losses among industry players. The laws in contention are the bank of Uganda minor finance Act 2003, tier 4 micro-finance and money lenders At, 2016 under the micro-finance regulator and the cooperatives Act 2020 under the cooperatives regulations. This is during an AGM by member cooperatives
