How to Register a SACCO in Uganda: Requirements and Costs

Thirty people who already save together can turn their group into a registered SACCO in Uganda, and the government fees are low: about UGX 65,000 in total, paid to the Ministry of Trade, Industry and Cooperatives (MTIC), not URSB.

But registering isn't the last step. Before your SACCO takes any savings or gives out loans, it also needs an operating licence from the Uganda Microfinance Regulatory Authority (UMRA). Here's the full process, part of our wider guides to money in Uganda. Saving together to build? See what building a 3-bedroom house in Uganda costs before you set your contributions.

Quick facts

A SACCO is a cooperative, not a company

The first mix-up people make: trying to register a SACCO the way they'd register a company, through URSB. A SACCO is a type of cooperative society, and it's registered under a completely different law (the Cooperative Societies Act, Cap 112) through MTIC's Department of Cooperatives, working through your district's Cooperatives or Commercial Officer. You don't reserve a name at URSB or file articles of association. Keep that distinction in mind and you'll save yourself a trip to the wrong office.

What you need before you apply

Based on MTIC's own cooperatives guidelines (checked October 2026), you'll need:

• At least 30 founding members. This is the legal minimum for any cooperative society in Uganda. MTIC's guidance says "the more the better for viability", because more members means more share capital and steadier savings.
• A set of bylaws, bought from your district cooperatives office: UGX 15,000 for the savings and credit (SACCO) version, or UGX 10,000 if you're registering a general multipurpose cooperative instead. The bylaws record every promoter's name and contact details, your SACCO's objectives, and how it'll be managed.
• A financial statement for the society: an income and expenditure account plus a balance sheet.
• A full shareholding schedule listing every member's entrance fee, shares, savings and any loans.
• Your own copy of the Cooperative Societies Act, Cap 112, and its Regulations, so your bylaws don't contradict the law.
• Passport photos of whoever will handle the SACCO's accounts.
• A recommendation letter from your District Cooperative or Commercial Officer.

How to register your SACCO, step by step

1. Recruit your 30 promoter members. Agree on the purpose of the SACCO (straightforward savings and credit for members, or a wider multipurpose cooperative) before you buy bylaws, since the books differ.
2. Buy the bylaws books from your district cooperatives office or MTIC: UGX 15,000 for the savings and credit set.
3. Fill in the bylaws together: list every promoter, your objectives, your management committee structure, and the rules for shares, savings and loans.
4. Hold your first members' meeting. Elect an interim management committee and agree your entrance fee and minimum share value.
5. Pull together the supporting documents: the financial statement, the shareholding schedule and the account handlers' photographs.
6. Get your recommendation letter from your District Cooperative or Commercial Officer, who may attend a members' meeting before signing it.
7. Submit your file to the Commissioner for Cooperatives at MTIC. The registration fee (UGX 50,000) is only payable once your documents are approved, so don't pay upfront.
8. Collect your certificate of registration. Your SACCO now legally exists as a cooperative society.
9. Apply for your UMRA operating licence before you collect any contributions or give out a loan (see below). Registration and the licence to run as a SACCO are two different things.

Registering is not the same as being licensed to operate

This trips up a lot of new SACCOs. Registering with MTIC makes you a legal cooperative society. It does not, on its own, let you take savings or lend money.

Under Section 36 of the Tier 4 Microfinance Institutions and Money Lenders Act, 2016, a SACCO can't provide financial services (savings, credit, anything of the sort) without a licence from the Uganda Microfinance Regulatory Authority (UMRA), which began licensing SACCOs in 2021. UMRA's page doesn't publish the licence fee or a fixed processing time, so call its offices at Rwenzori Towers in Kampala (+256 417 799 700, toll-free 0800 111 449) or apply through its portal at licensing.umra.go.ug to get the current figure before you budget for it.

Once you're registered and licensed, you'll also want a URA Taxpayer Identification Number for the SACCO itself, see our guide to getting a URA TIN number in Uganda, since you'll need one to file returns and, in most cases, to open the SACCO's bank account.

If your SACCO grows large, expect a third layer of oversight

This won't affect you on day one, but it's good to know. Since 2023, Bank of Uganda has been introducing a separate licence for the country's biggest "registered societies", those with savings and capital far above what a new SACCO holds. Uganda's financial press has reported an ongoing standoff between BoU, MTIC and the SACCO sector over deadlines and enforcement, most recently the Daily Monitor in September 2026. The deadlines have moved more than once, so if your SACCO ever grows that big, check directly with Bank of Uganda rather than relying on an old news report. Separately, from 1 January 2027, Bank of Uganda is limiting over-the-counter cash withdrawals to UGX 50 million a day for individual accounts, which matters if your SACCO ever pays out large loans or dividends in cash.

What it costs to get started

That's roughly UGX 65,000 in MTIC fees, before your own share capital, stationery or travel to the district office. It's small compared with registering a private company. The real challenge in starting a SACCO in Uganda is finding 30 committed members and running it properly, not the fees.

Most SACCOs now collect members' monthly contributions by mobile money. If yours will too, check what each transfer costs your members first. See our breakdown of MTN MoMo and Airtel Money charges in Uganda so you can decide whether to cover the fee or pass it on.

Common SACCO registration mistakes

• Don't take savings or lend before you're licensed. Operating as a de facto SACCO without a UMRA licence is the single biggest legal risk new groups take, usually because members are impatient to start saving together.
• Don't confuse "registered" with "licensed to operate." Your MTIC certificate proves you exist as a cooperative; it isn't a banking or microfinance licence.
• Don't under-recruit. Falling short of 30 promoter members is the most common reason a file gets sent back.
• Keep records from day one. Your shareholding schedule (who put in what, when) is the document members will argue over if things go wrong later. Get it right at registration and keep updating it.
• Don't assume URSB is involved. If an agent or "facilitator" tells you to register your SACCO's name at URSB, that's not how cooperatives are registered. It's MTIC and your district cooperatives office.

If running a full SACCO feels like more structure than you need right now, compare it with other ways to save and grow money with others in Uganda. Our guide to investment opportunities for small and medium investors in Uganda covers some alternatives, our comparison of Uganda's licensed unit trusts is a lower-effort option with similar returns, and our investing guides go wider. Once members are paying in regularly, our compound interest calculator is a quick way to show them how steady monthly savings grow over the years.

Frequently asked questions

How many members do you need to start a SACCO in Uganda?

At least 30. That's the statutory minimum for any cooperative society under the Cooperative Societies Act, Cap 112, and it's the figure MTIC's own registration guidance repeats. You can register with exactly 30, but MTIC's guidance notes that more members generally means a more viable SACCO.

How much does it cost to register a SACCO in Uganda?

Budget about UGX 65,000 for MTIC: UGX 15,000 for your savings and credit bylaws books and UGX 50,000 for the registration fee, paid once your documents are approved. That doesn't include the UMRA operating licence fee, which UMRA doesn't publish online, so ask when you apply.

Do I need to register my SACCO with URSB as well as MTIC?

No. A SACCO is a cooperative society, not a company, so it's registered entirely through MTIC's Department of Cooperatives under the Cooperative Societies Act, Cap 112. URSB handles companies and business names, not SACCOs.

Can my SACCO start collecting savings or giving loans right after MTIC registration?

No. MTIC registration makes you a legal cooperative society, but Section 36 of the Tier 4 Microfinance Institutions and Money Lenders Act, 2016 means you also need an operating licence from UMRA before you offer any financial service. Apply for both in order: registration first, then the licence.

What's the difference between a savings and credit SACCO and a multipurpose cooperative?

A savings and credit SACCO exists specifically to collect members' savings and lend to them; its bylaws cost UGX 15,000 for the set of four. A multipurpose cooperative can cover other joint activities too, such as marketing produce, and its bylaws cost UGX 10,000. Decide which one fits before you buy bylaws, since you're buying the right set for the structure you've agreed on.

Will my new SACCO need a Bank of Uganda licence too?

Almost certainly not at the start. Bank of Uganda's extra licence, introduced from 2023, is aimed at the country's largest registered societies, with savings and capital far beyond a new SACCO's. The rules and deadlines for that tier have changed more than once in 2026, so if your SACCO ever grows that big, check the current position with Bank of Uganda directly.