Bank of Uganda refuses to extend 30 September licensing deadline for large SACCOs

According to the Daily Monitor, BoU Governor Michael Atingi-Ego wrote to the Uganda Co-operative Savings and Credit Union chief executive saying the deadline for large SACCOs to apply for BoU licences by 30 September 2026 would not be lifted or extended. The letter said large SACCOs without a licence by 1 October would be cut off from the commercial banking system, including deposits in commercial banks and mobile money transactions.