MUSHANGA SACCO LTD LAUNCHES MOBILE LOANS, AGENCY BANKING AND MAKES 3BN PROFITS

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By Wilber Muhwezi Kasibante [MK]In Sheemawww.mknewslink.com——Mushanga sacco ltd headquartered in Sheema with branches across Ankole yesterday afternoon launched two new products among many others it already has.The products are Mobile loans that are offered on mobile phones and Agency Banking that is implemented through agents situated in mainly urban areas.According to the general manager Mushanga sacco, Mr. Nankunda Gorden the two products in one will help to ease Banking services within their area of coverage.The products will be implemented by Future link Technologies an IT company located in Uganda.The board chairperson of the sacco Mr. Gilvas Bafaaki told the AGM that in 2025, the organization made 3 billion in profits and members resolved to invest 40% and take home 60%.He added that the AGM which is a supreme body managing the saccos approved to open 2 more branches to make them 14.The chief guest who is also Ruhama East MP elect in Ntungamo district Hon.Kahiima Mugabe hailed Mushanga sacco staff, board and members for growing the sacco rapidly.He advised members of the sacco to take the children to schools and have different sources of income.CHIEF GUEST AT THE 44TH AGM HON. MUGABE KAHIIMAHe also promised to lobby fellow MPs to maintain tax holiday on saccos for ten years since the current one ends next year.He also promised to give in his input to extend Bank of Uganda directive to manage saccos in the which is now at six months to be extended further.GM MUSHANGA SACCOSTAFF AND GUESTSSOME OF THE DELEGATESHEAD OF IT OF MUSHANGA SACCO

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