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Compliance guide · Uganda

Bank of Uganda licensing for large SACCOs: what the rule says

Bank of Uganda licenses SACCOs above two thresholds under the Registered Societies framework. Here is who the rule covers, what it requires, and where the compliance date currently stands — with the source, so you can check it yourself.

Who this applies to

Bank of Uganda licenses SACCOs that cross two thresholds at the same time: voluntary savings above UGX 1.5 billion, and institutional capital above UGX 500 million. Media reporting citing Bank of Uganda puts roughly 40 Ugandan SACCOs above both thresholds, concentrated in central and western Uganda, against a national total of more than 33,000 registered SACCOs — so this rule reaches a small, specific slice of the sector, not SACCOs generally.

The legal basis is the Microfinance Deposit-Taking Institutions Act, Cap. 58, and the MDI (Registered Societies) Regulations 2023 — a separate framework from UMRA's Tier 4 Microfinance Institutions and Money Lenders Act 2016, which continues to govern SACCOs below these thresholds.

What the rule requires

Once a SACCO is above both thresholds, Bank of Uganda requires it to hold a licence under the Registered Societies framework. The obligation on the other side sits with regulated financial service providers — banks, insurers, and payment gateway providers — who Bank of Uganda has directed to transact only with licensed large SACCOs once the compliance date takes effect. In practice, that means the settlement and banking relationships a large SACCO depends on run through providers who are themselves required to check licensing status.

The compliance date, and why it has already moved once

Bank of Uganda originally set 31 March 2026 as the date by which regulated financial service providers were required to transact only with licensed large SACCOs. Bank of Uganda later extended that date to 30 September 2026, citing the need for further stakeholder engagement (Bank of Uganda, official statement; reported by The Cooperator News and New Vision).

Because this date has already moved once, treat it as the current Bank of Uganda position rather than a fixed point — check the source link above for the current date before relying on it. This page is re-verified on the schedule below; it does not carry a countdown.

Where things stand

As of the last-verified date on this page, Bank of Uganda reporting (via ChimpReports) put six large SACCOs as licensed. That figure moves as Bank of Uganda processes applications and is not independently confirmed against a Bank of Uganda register by SenteRail — treat it as reported, not confirmed, until checked against Bank of Uganda's own published list.

How to check where your SACCO stands

  • Confirm your SACCO's voluntary savings and institutional capital position against the two thresholds above — use the threshold checker for a quick comparison, from your own ledger.
  • If you're above both thresholds, see the application checklist for what reporting says the application requires, and Bank of Uganda's Non-Bank Financial Institutions Department for the current process.
  • If you're below both thresholds, this framework does not apply to your SACCO; UMRA's Tier 4 framework continues to be the relevant regime — see who regulates my SACCO in Uganda? for how the pieces fit together.

Related pages

Where SenteRail fits

SenteRail is a technology provider, not a lender, bank, or licensed financial institution. A SACCO using the SenteRail Ledger remains the regulated entity responsible for its own Bank of Uganda or UMRA registration — SenteRail does not hold a licence on a SACCO's behalf and does not substitute for one. What the platform can do is keep the savings and capital figures this rule turns on — voluntary savings, institutional capital — visible and current in the ledger, so a SACCO's board can check its position against the thresholds without a manual reconciliation exercise.