About Butuuro Financial Services

Butuuro SACCO started operations in 2007 with just one million Ugandan shillings and was duly registered by the Ministry of Trade, Industry and Co-operatives on 15th November 2007 with Registration Certificate CR8583. The idea of starting Butuuro SACCO was initiated by six visionary people led by Pison Mugizi. In close collaboration with Mr. Henry Bamwine, the Late  Robert Mushagara, Ms. Kiconco Innocent, Mr. Kakama Patrick and Mr. Ainomugisha Levi, Butuuro SACCO was founded.

The idea was hatched on Christmas day 25th December 2006 after church service as the six founders were chatting at church. One of the issues that emerged during the discussion was the high poverty levels amongst the people and how this can be solved. The idea of a SACCO came up as a way of raising household income through savings and credit.

After that brief chat at church, an announcement was made to all the people who had come for Christmas service to attend the formation meeting after lunch on that same day (Christmas). As people were in Christmas jubilations,  few people attended and embraced the idea.

During the meeting a 3-man interim working committee was selected with Pison Mugizi as the Chairman, late Robert Mushagara as the Treasurer and Kiconco Innocent, the secretary. The Interim working committee spearheaded mobilization of members and registration process.

Mobilization and recruitment of members was not an easy task. At the end of the year, 2007 only 46 members had registered. People were reluctant to join because the Pioneer SACCO that was in Bushenyi town had collapsed and also an organization called COWE had disappeared with billions of people’s savings in the greater Bushenyi region.

In a space of one year after registration in 2008 the interim committee organized the first AGM that elected BOD and supervisory committee. The first elected Board of directors were Mr. Pison Mugizi as Chairman, Vice Chairman the late Mishaki Karegyeya, the Late Robert Mushangara as Treasurer and Kiconco Innocent  as the BOD secretary.  Other member of the Board were Margret Mulindwa, Exavier Twesigye and Eriasaph Tabaro. The first supervisory committee had Henry Bamwine as Chairperson, Deborah Muhanguzi and Katongole Jackson Bells as members.

Why the Name Butuuro

Several names were suggested but the name Butuuro was finally agreed upon by all members present. Butuuro was the original name of Nyakabirizi town. About 100 years ago the first two shops in the present Nyakabirizi town were referred to as “Omu Butuuro” meaning where people live together in harmony. Many of the elders in the area were happy to hear the name Butuuro resurfacing after being eaten up by Nyakabirizi. Formation meeting As agreed in the very first meeting held at Mr. Kakama home on Christmas day, all subsequent formation meetings were held at the college view guest house. When the interim chairman. Mr. Pison Mugizi contacted the director of the college view guest house Mr. Jackson Bells Katogole he also bought the idea and allowed the SACCO to hold all the meetings at his guest house at no cost. Several radio announcements and local church messages were made inviting all members of the general public to come and join the SACCO. The first meeting attracted over three hundred people but had negative mixed feelings in joining the SACCO. In that meeting, only three committed their money and joined. The interim committee continued mobilizing and convening weekly meetings sitting every Sunday. Members resolved that meetings should now be monthly on every last Sunday of the month. The reason for making mobilization meetings monthly was because the turn-up for weekly meetings was drastically reducing. Monthly meetings were maintained in order to keep reviewing our progress. By the end of the year, 2007 46 members had joined. The SACCO started operations in one room, later rented two rooms, and now is being housed in a magnificent building in its own home.

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