By Esther Wodulo
The Third General Meeting of the Academy for Women Entrepreneurs (AWE) Investment Club and SACCO gave me a reminder that savings alone are not enough; the exciting truth is that prosperity lies in transforming savings into productive investments. Across Uganda, collective financial platforms such as SACCOs and Investment Clubs have increasingly become engines of economic empowerment and shared growth.
For SACCOs, its now a widely common and practiced phenomenal due to Emyooga and the gospel being spread by the Microfinance Support Center yet Investment clubs are what in the village our mothers called Nigina, and to some who know the Bagaga Kwagalana, Tuko Club among others where members mobilize themselves for a goal to invest their monies and multiply.
Recent evidence shows that SACCOs play a critical role in financial inclusion, especially in underserved communities where up to 90% of people remain exclude from formal banking systems. By pooling resources, members gain access to affordable credit, build assets and invest in income generating opportunities.
Its right to assert that the growth of SACCOs in Uganda is not theoretical institutions like Parliamentary SACCO recorded a 14% growth in 2023-2024, yet the Uganda People’s Defense Forces (UPDF) Wazalendo recorded a growth of 338% in 2025.This demonstrates the tangible benefits of collective financial action.
Investment clubs further extend this impact by shifting focus from savings to wealth creation. Structured savings group now benefit from tailored financial products, training and mentorship to enhance their ability to invest strategically and sustainably. According to the World Bank Report, Uganda Economic Update 2025, it highlighted that this evolution is crucial in a growing economy like Uganda’s, where GDP growth reached over 6% in 2024/2025 driven in part by increased domestic investment.
From such reflections, several strategies emerge. First members must embrace disciplined saving as the foundation for investment, Second, SACCOs and clubs should diversify beyond lending into ventures such agriculture, real estate and small enterprise. Third, continuous financial literacy and mentorship are essential to guide informed decision making. Finally strong governance and accountability withing groups ensure sustainability and trust.
Joining an investment club or SACCO is therefore not merely a financial decision, it is a pathway to economic freedom. It enables members to move from survival to stability, and ultimately to prosperity. As we look ahead, collective growth remains our strongest pillar for building resilient communities and unlocking shared wealth for generations to come.
The Writer is the Membership Relations Officer at the UN Staff SACCO.
