Museveni Eases SACCO Rules, Taxes

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President Yoweri Museveni directed the Bank of Uganda (BoU) to ease its licensing drive for large Savings and Credit Cooperative Organisations (SACCOs) and extend their income tax exemption beyond 2027. Museveni emphasized harmonizing laws to reflect SACCOs’ member-owned structure and developmental role, rather than applying commercial bank regulations. The move halts enforcement against noncompliant SACCOs, supports financial inclusion, and tasks stakeholders with creating a tailored regulatory framework while safeguarding operations for millions of Ugandans.