From Facebook to Fortune: Ugandan Savings Club Hits Shs1 Billion

Kampala, Uganda   A Ugandan savings group that began as a Facebook community has surpassed the Shs1 billion mark in savings, with members now setting their sights on long-term investments, including real estate.

The club, founded by Brian Yesigye, started with members saving Shs2,000 daily, which later increased to Shs3,000. Today, the group has mobilised hundreds of members about 80 percent of them women most of whom participate virtually as they are spread across the world.

Yesigye explained that the goal of the club is to build generational wealth, urging members to stay committed for the long term. “Saving is not just about the present. It is about creating stability for your children and your family,” he told members at the club’s annual general meeting in Kampala.

Over the years, the group has diversified its portfolio, channeling funds into treasury bonds and unit trusts. According to Yesigye, one of their major investments is a Shs200 million government bond that brings in Shs27 million annually. To date, the group’s savings stand at approximately Shs600 million, with the remaining Shs400 million generated through investments.

The club operates under a structured management system that includes a managing director, accountant, and treasurer, with its accounts audited yearly by an independent firm.

Executive Director Ronald Sebunya revealed that the next frontier for the club is real estate. Plans are underway to acquire 20 acres of land to construct three-bedroom houses for each member, aimed at reducing risks and ensuring decent accommodation for contributors.

Sebunya acknowledged challenges such as irregular savings, member dropouts, and low meeting attendance. However, he stressed that members who leave are reimbursed with their total savings, underscoring the club’s commitment to transparency and accountability.

Guest speaker Ronald Mukasa, a financial literacy coach and Director of Research, Innovation, and Learning at Enterprise Uganda, noted that the success of such clubs depends heavily on leadership and governance. “There will always be disagreements over investment choices. Some may prefer land, others bonds. But what sustains groups like this is strong leadership and systems such as audited accounts,” he said.

The milestone comes as the club marks five years of existence, with members expressing optimism that disciplined saving and strategic investments will continue to yield greater opportunities for wealth creation.