A SACCO Licence in Uganda is a legal requirement for any Savings and Credit Cooperative Society that intends to provide financial services to its members. The Uganda Microfinance Regulatory Authority (UMRA) is the government body responsible for issuing, renewing, and monitoring SACCO licences under the Tier 4 Microfinance and Money Lenders Act, 2016.
To operate legally, a SACCO must first be registered under the Cooperative Societies Act before applying for a financial licence from UMRA.
Procedure for Getting a SACCO Licence in Uganda
To obtain a SACCO Licence in Uganda, applicants must follow these steps:
- Register the Society
Ensure your SACCO is officially registered under the Cooperative Societies Act. - Prepare Required Documents
Gather essential documents including your certificate of registration, business plan, organizational structure, and lending policies. - Fill the UMRA Application Form
Obtain the official SACCO licence application form from the Uganda Microfinance Regulatory Authority. - Attach All Supporting Documents
Attach the following:- Certified copy of the registration certificate
- Organizational structure and management chart
- Business and credit policy documents
- Proof of capital and TIN certificate
- Pay Prescribed Fees
Pay a non-refundable fee of UGX 50,000 to UMRA. Retain the payment receipt. - Submit Application
Submit the completed form and documents to the Finance Officer in charge of SACCO registration. - Await Processing
UMRA will review the application within 21 working days. If approved, the SACCO licence certificate is issued.
Required Documents
- Certified copy of the Certificate of Registration under the Cooperative Societies Act
- Certified copy of the TIN certificate
- Certified Memorandum and Articles of Association with at least UGX 5 million core capital
- Proof of registered address and office locations
- Particulars and national IDs of directors and secretary
- Certificates of good conduct for all directors
- Business plan, lending policy, and interest rate schedule
- Payment slip for application fees
Eligibility Criteria
To qualify for a SACCO Licence in Uganda, the society must:
- Be formed to promote members’ economic and social welfare
- Operate based on cooperative principles
- Have a viable management and business structure
Fees and Charges
| Type | Amount (UGX) |
|---|---|
| Licence Fee | 2,000,000 |
| Renewal Fee | 2,000,000 |
| Registration Fee | 50,000 |
| Cooperative Bye-Laws | 10,000–15,000 |
| Name Search | 2,200 |
| Name Reservation | 20,000 |
All payments are made to the Microfinance Regulatory Authority, Account Number 6000010330 (Barclays Bank IPS Branch).
Validity and Processing Time
A SACCO licence is valid for one year and must be renewed annually before December 31. The maximum processing time for new applications is 21 days.
Office Contacts
Uganda Microfinance Regulatory Authority (UMRA)
Rwenzori Towers, Block B, Ground Floor, Plot 6 Nakasero Road, Kampala
📞 +256 417 799 700 | Toll-Free: 0800 111 449
📧 [email protected] / [email protected]
Uganda Cooperative Savings and Credit Union (UCSCU)
Plot 239 Maganjo, Bombo Road, Kampala
📞 +256 414 233 601 | ✉ [email protected]
Registrar of Cooperative Societies
Ministry of Trade, Industry and Cooperatives, Farmers House, Kampala
📞 +256 312 324 000 / +256 414 230 916
Key Regulations
- A SACCO may only offer financial services to its members.
- It must include the words “Savings and Credit Cooperative Society” or “SACCO” in its name.
- Borrowing must not exceed UMRA’s prescribed limits.
- Providing false information during application is a criminal offence punishable by fine or imprisonment.
Benefits of Licensing a SACCO
Obtaining a SACCO Licence ensures:
- Legal recognition and protection under Ugandan law
- Public trust and improved credibility
- Access to insurance and investment opportunities
- Job creation and community empowerment
- Business continuity beyond the founders
