Mvara Class 88 SACCO Members Resolve to Diversify Investments

ARUA – Former students of Mvara Secondary School in Arua City have unanimously resolved to diversify their investments in order to deliver strong returns to members through both dividends and interest at the end of the year.

This decision was made through their savings and credit cooperative society (SACCO) known as Class 88 Arua Friends Savings and Credit Cooperative Society.

The SACCO was originally formed by the 1988 cohort that joined Mvara Secondary School, but membership has since been expanded to include any former student of the school as well as their spouses. Currently, the SACCO has 56 members, of whom 41 are fully paid-up.

Speaking during the 3rd Annual General Meeting held at Beri Cottages in Arua district on Saturday, April 4, 2026, the SACCO Chairperson Robert Dylan Andama revealed that the group has floated 10,000 shares at Shs20,000 each, bringing the targeted share capital to Shs200 million.

“As of now, we have already raised Shs100 million in share capital as we continue to grow. We are confident that by the end of our term, members will fully subscribe to the Shs200 million target. Our long-term vision is to grow the SACCO into billions of shillings,” Andama stated.

He emphasized that diversification of investments is one of the key strategies for growing the SACCO.

“We have formed an Investment Committee tasked with identifying low-risk investment opportunities. The committee will advise the Executive Committee, which will then make the final investment decisions,” Andama explained.

“We plan to venture into Unit Trusts, real estate, and the money market — particularly treasury bonds. Our goal is to ensure we maintain zero idle cash on our accounts so that we can give members real value through attractive dividends and interest at the end of the year,” Andama added

The SACCO General Secretary, Robert Afema, urged members to increase their loan uptake to support personal development.

“We are considering investing in property. We will buy land, demarcate it, and allocate plots to members who will pay over time. The ultimate goal is for every member to own an asset by the end of the day. If we move together with this momentum, we shall achieve a lot in the future,” Afema said.

He promised that by the end of 2026, the SACCO will pay interest on members’ savings and declare dividends.

Afema also announced plans to introduce life insurance cover for members.

“Life is full of uncertainties. We want to provide life cover for every member, their spouse, and at least four children. In case of any unforeseen event, the insurance will step in to support the family. We believe this will strengthen the spirit of togetherness,” he added.

Sr. Molly Ezaru, a nurse at Arua Regional Referral Hospital and a SACCO member, testified that the cooperative has greatly transformed her life.

“The money I have borrowed from the SACCO has enabled me to construct a house on a plot I bought earlier using a salary loan. Since joining this SACCO, I stopped taking salary loans. It is the money from this SACCO that is helping me develop,” Ezaru said.

She also recalled the support she received from the group when she lost her sister.

“The SACCO has stood with us in both good and bad times. Members are very supportive of one another. Recently, the leadership organized a financial literacy training that has helped me better manage my personal finances,” she noted.

Sr. Ezaru appealed to other former students of Mvara Secondary School to join the SACCO so that they can support one another.

As part of its Corporate Social Responsibility (CSR), the SACCO participated in the West Nile Education Trust Fund run and donated over Shs2 million. The group has also constructed a girls’ bathing shelter at Mvara Secondary School and plans to contribute towards the construction of the school’s main gate.

SACCO officials emphasized that their support is not limited to Mvara SS but extends to the entire Arua community.