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Shuuku SACCO was registered as a financial cooperative in 1998. It was established to fill a financing gap at a time when the Ugandan financial sector was experiencing difficulties and when commercial banks and other established financial institutions were hesitant to extend their services to rural areas. The SACCO is one of the 17 village savings and credit institutions (“village banks”) that were created under the Ministry of Finance’s private sector development program, with support from the United Nations Development Programme.
With a population of 48 million, Uganda is the third-largest economy in East Africa, after Kenya and Tanzania. After going through a difficult period until the 1980s, the country has achieved impressive economic performance over the last few decades. Uganda managed the post-pandemic recovery well and has remained resilient in the face of global economic challenges. Agriculture remains the backbone of the Ugandan economy, employing 66% of the population, with coffee being one of the main export resources. Despite this positive trend, poverty persists, with 60% of the population living below the global threshold of $3 PPP/day.
Shuuku Cooperative Savings and Credit Society ensures that it provides its members with appropriate and affordable financial and cooperative development services to enable them to improve their standard of living.
