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FREQUENTLY ASKED QUESTIONS

Q1. What are the benefits of becoming a member?
  • Savings for the future especially when you have not been diligent.
  • Financial passive income through the diverse investment opportunities
  • Discipline and better understanding on how to make money grow due to information provided.
  • Being able to borrow money at a much less / more favourable interest rate and faster turnaround time compared to commercial agencies for example banks.
  • Great platform for expanding your valuable networks.
  • You must be a Gayaza old girl.
  • Fill in the registration form.
  • Submit form by email to gogsacco@gmail.com together with copy of your National ID and passport if the National ID is not available.
  • Make remittance to bank:
    Stanbic Bank,
    Garden City branch,
    Account number 9030020238967,
    Account title: GAYAZA HIGH SCHOOL OLD GIRLS SACCO LTD,
    Sort code (040147)
  • Please include your name and allocation details as the remittance reason for example Adeline Mugisha, savings 200,000UGX and 300,00UGX shares
  • Take a picture and share details of the deposit slip and allocation details on the email address at: gogsacco@gmail.com
  1. Total is 350, 000 UGX broken down as follows:
  2. 100,000UGX registration (One off as a member, not paid again)
  3. 100,000UGX savings (Minimum amount required every month)
  4. 100,000UGX shares (Minimum 2 shares at 50,000@ to start, please note that you can put in more in shares and savings.
  5. 50,000UGX subscription (Annual subscription for every member)

The subscription fee covers administration and overhead costs for running the SACCO.

Through the bank account as shown above and for those in the diaspora, send to the mobile money number 0755523526 – Ruth Kagabane (Chairperson). Please add the withdrawal charges.

You can buy as many shares as you wish per month to grow the SACCO, but you cannot own one third of the shares.

We are not giving out loans right now, borrowing will commence soon after we have drawn a loan policy and constituted the loan committee.

We do not have insurance right now, however we are registered under the laws of Uganda and supervised by the Government. There is a supervisory committee that supervises the Board to make sure that the laws and regulations are followed.

  • That is based at the AGM determined by the performance of the SACCO within that year.
  • The profit earned through the year must be calculated and then shared according to the savings and shares of each individual member.

The named beneficiaries in the membership form will receive that member’s benefits.

A monthly penalty charge is levied for members who do not make their monthly payments on time and those who do not give prior communication (on the SACCO mail) about their inability to save for the month / period. The penalty fees become an income to the SACCO.

In prior communication, send email explaining any changes in circumstances and when you are likely to resume to gogsacco@gmail.com (Email is accessed by three board members only)

Yes, you most certainly are. However, remember to give details of amounts, allocations and duration on the SACCO email for accountability.

Yes, as a SACCO we are required to meet once a year (law), but we have decided to have monthly online meetings comprising of the board and the members. These meetings are for information, and some will encompass training. The monthly online meetings will be a platform to address matters that pertain to you as a member. Other meetings that may happen are the ‘Special’ or ‘Extraordinary’ meetings in case the need arises.

Yes, you may withdraw upon complying with the required notices.

  • THE CHAIRPERSON, RUTH KAGABANE 0755523526
  • THE SECRETARY, INNOCENT NDIKO 0772 694071

We are a Strategic Leadership and Business Consulting Firm operating in Rwanda. 

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Join GOG SACCO

Take the next step toward financial independence. Become part of a trusted network of women building wealth together.

Email: gogsacco@gmail.com

Contact: Ruth Kagabane – 0772438536

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