From Humble Beginnings to a Thriving Cooperative
Wagagai Coffee Farmers SACCO has demonstrated remarkable resilience and growth since its inception in 2021. Established with just 10 members and an initial capital of UGX 400,000, the SACCO has expanded significantly, now boasting 300 members and a robust financial base.
By providing access to finance, markets, and technical support, the SACCO has enabled farmers to increase coffee yields, enhance quality, and secure better market prices. This transformation has not only improved the livelihoods of its members but also contributed to the socio-economic development of the Wagagai community.
“We are proud of our journey and grateful for the unwavering support of our members, partners, and stakeholders,” said Chairperson Cherubet Yasin Labu. “Our commitment remains strong in empowering farmers and fostering sustainable economic growth.”
Third Annual General Meeting (AGM) – 2025
On January 27, 2025, Wagagai Coffee Farmers SACCO successfully held its third Annual General Meeting (AGM), bringing together members, stakeholders, and officials to review achievements, challenges, and future strategic plans.
Key AGM Highlights:
Financial Performance and Growth
The SACCO reported a significant increase in turnover and profits, largely attributed to improved coffee production and market engagement.
Membership has expanded, reflecting the SACCO’s growing influence and trust within the farming community.
Diversification of Services
To enhance financial inclusion and support its members, the SACCO has introduced:
Agent Banking – Expanding access to financial services.
Mobile Money Services – Facilitating seamless transactions.
Agric-Preneur Programs – Promoting agricultural entrepreneurship.
Investment and Development Plans
To strengthen its service offerings, the SACCO outlined plans to:
Invest in irrigation systems to mitigate climate change impacts.
Provide high-quality farm inputs to boost productivity.
Expand training programs to equip farmers with modern agricultural practices.
Challenges and Strategic Solutions
Key challenges discussed included:
Climate change and crop diseases affecting coffee yields.
Loan repayment challenges due to financial mismanagement among some members.
The need for better record-keeping and financial literacy training.
Commitment to Innovation and Expansion
Chairperson Cherubet Yasin Labu emphasized the SACCO’s commitment to innovation and service diversification to meet the evolving needs of its members.
Additionally, Agric-Preneur Chairperson Musobo Dafala commended the SACCO’s role in fostering financial inclusion and agricultural development, highlighting its positive impact on the farming community.
2025 Budget Overview
The SACCO’s 2025 budget reflects its commitment to sustainable growth, financial stability, and continued support for farmers.
Projected Income for 2025
The total estimated income for 2025 is UGX 473,498,437, with key revenue sources including:
Loan recoveries: UGX 161.4M (principal) and UGX 43.5M (interest).
Savings contributions: UGX 75.1M.
External borrowing: UGX 100M to support strategic investments.
Other income streams: Share trading, membership fees, agent banking, and mobile banking services.
Total projected expenditures amount to UGX 488,919,800, allocated as follows:
| Wagagai Coffee Farmers SACCO – 2025 Budget Overview | |
|---|---|
| Category | Budget (UGX) |
| Loan Disbursements & Savings Withdrawals | 293,255,300 |
| Financial Costs (Interest, Dividends, Bank Charges) | 55,811,205 |
| Investments (Agent Banking, Mobile Money Expansion) | 30,120,000 |
| Capital Expenditures (Land, Office Equipment, IT Systems) | 21,650,000 |
| Administrative Costs (Operations, ICT, Staff Welfare) | 19,729,745 |
| Salaries, Staff Training & Recruitment | 10,440,000 |
| Loan Repayment & Insurance Remittances | 53,400,100 |
| Total Estimated Expenditure | 488,919,800 |
The SACCO has allocated UGX 50.3M for loan repayments and UGX 2.2M for insurance remittances, ensuring financial stability and security for its members.
Strategic Outlook for 2025 and Beyond
With a solid financial framework and a strategic vision for expansion, Wagagai Coffee Farmers SACCO is well-positioned to drive sustainable growth and improve livelihoods in the coffee farming sector.
Through innovation, service diversification, and strong financial governance, the SACCO aims to remain a pillar of economic empowerment for farmers and the broader Wagagai community.
Commitment to Excellence
As the SACCO continues to evolve, its leadership remains dedicated to:
Strengthening financial services and market access for farmers.
Promoting sustainable agricultural practices through innovation.
Expanding training and support programs to enhance productivity.
With a clear roadmap for growth, Wagagai Coffee Farmers SACCO is set to achieve even greater milestones in 2025 and beyond.
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