Nurses and midwives launch SACCO, Elect new leadership to strength financial security

17 July 2026, 1:00 pm

Byamukama Alozious

Uganda’s nurses and midwives have strengthened their efforts to improve their financial wellbeing with the formal inauguration of the Uganda Nurses and Midwives Savings and Credit Cooperative Organization (SACCO), a member-owned financial institution that aims to provide affordable credit, promote savings, encourage investments, and improve long-term financial security for health workers.

The SACCO was officially inaugurated during its first Annual General Meeting (AGM) held at Mulago School of Nursing, where members also elected a new leadership team that will steer the cooperative for the next four years.

Prof. Edward Kumakech was elected Chairperson of the SACCO, Dr. Joyce Nankumbi was elected General Secretary, while Ms. Mirembe Violet was elected Treasurer.

Speaking after his election, Prof. Kumakech said the SACCO had already made significant progress despite operating for less than four months, revealing that it had mobilized Shs28 million in initial capital and attracted approximately 380 members from different districts across Uganda.

He said the SACCO’s headquarters will initially operate from Mulago School of Nursing, with plans to establish branches in hospitals and health facilities across the country to make financial services more accessible to nurses and midwives.

“Our vision is to build a strong financial institution owned by nurses and midwives that enables members to save, invest, access affordable loans and secure their financial future,” Prof. Kumakech said.

The Board Secretary of the Association of Graduate Nurses and Midwives of Uganda (AGNMU), Cliff Asher Aliga, said the SACCO was established as part of the association’s strategic plan to economically empower nurses and midwives beyond their professional responsibilities.

He noted that although many nurses are employed, a large proportion continue to experience financial hardship due to dependence on commercial loans with high interest rates.

“More than 80 percent of nurses borrow money to meet their daily financial needs. Most financial institutions charge interest rates ranging between 12 and 25 percent, leaving many trapped in debt,” Aliga said.

He explained that the SACCO intends to offer loans at less than five percent interest, enabling members to access affordable credit while encouraging a culture of saving and investment.

“Our goal is to help nurses educate their children, support their families, invest, build wealth and reduce dependence on expensive commercial loans. We want members to own assets instead of spending years servicing debt,” he added.

Aliga observed that nurses often work demanding 12-hour shifts, leaving them with little opportunity to engage in additional income-generating activities, making affordable financial services even more critical.

The Principal of Mulago School of Nursing, Nambiro Josephine Kigozi, welcomed the initiative, describing it as a timely intervention that will unite nurses and midwives while promoting responsible financial management.

She acknowledged the Government of Uganda for improving the salaries of nurses and midwives in recent years but emphasized that higher incomes alone do not guarantee financial stability without proper planning.

“We appreciate the government’s efforts to improve our salaries, but without financial discipline, one can earn more and still fail to benefit. Through this SACCO, members are learning the importance of buying shares, saving consistently and planning for the future,” Kigozi said.

She noted that the SACCO offers more than financial services by creating a support network where members can receive guidance, mentorship and assistance during social and economic challenges.

Kigozi said regular saving and investment through the cooperative would also help nurses prepare for retirement and avoid financial insecurity later in life.

“As I approach retirement in the coming years, I know I will continue benefiting from the SACCO even after leaving active employment. Saving consistently gives someone an opportunity to plan, invest wisely and avoid wasting money,” she said.

She further explained that spouses, children and other relatives can join the cooperative as associate members, allowing families to benefit from savings opportunities, affordable credit and financial support.

Looking ahead, Kigozi said the SACCO has the potential to establish scholarship schemes, attract donor support and strengthen members’ welfare programmes, including providing assistance to families following the death of a member.

She appealed to nurses and midwives who have not yet joined the cooperative to embrace collective action, stressing that unity would strengthen both the profession and members’ economic wellbeing.

Quoting the Luganda proverb, “Agali awamu gegaluma enyama,” she reminded members that people achieve far more when they work together than when they struggle individually.

The newly elected leaders expressed confidence that the Uganda Nurses and Midwives SACCO will become a strong financial pillar for the profession by promoting a culture of saving, expanding access to affordable credit, encouraging investment and improving the long-term financial resilience of nurses and midwives across Uganda.