The National Assembly of Zambia Savings and Credit Cooperative (NAZ SACCO) has been applauded by the Uganda Parliamentary SACCO, for opening the NAZ SACCO to include both Members and staff. Speaking when he welcomed a delegation of the NAZ SACCO, the Chief Executive Officer of the Uganda Parliamentary SACCO, Mr Mureebe Methods Muhanuka, indicated that it was good that the NAZ SACCO had opened up to Members of Parliament. To this effect, he urged the delegation to ensure that the NAZ SACCO succeeds by strictly adhering to, and upholding the guiding principles of running a SACCO for Members of Parliament and Staff. These include integrity, transparency, accountability and equality. He further encouraged the SACCO to formulate relevant policies, such as marketing, credit and investment management, which are key for growing the membership of the SACCO and consequently its fund base.

Mr Muhanuka also emphasised that SACCOs greatly contribute to meeting financial needs of parliamentarians, which enables them to fulfil some significant political, economical and social obligations during and after their parliamentary life.

A team comprising  the NAZ SACCO Board and Management is on a benchmarking visit to the Uganda Parliamentary SACCO, with the objective of learning and sharing best practices on how to operationalise a co-operative that consists of both Members of Parliament and staff.

This follows Parliament’s adoption of the Report of the Parliamentary Reforms and Modernisation Committee on 13th July, 2023, for the Second Session of the Thirteenth National Assembly. The Report revealed that Members had visited the Parliament of Uganda and discovered that Members of Parliament and staff have a joint SACCO. In this regard, one of the recommendations was that Members of Parliament be encouraged to join the existing NAZ SACCO, in order to leverage on the power of numbers, as well as adhere to lessons from Uganda.

It is in this regard that the National Assembly of Zambia Management exclusively supported the team to undertake the benchmarking visit to Uganda. The team includes Dr Muungo Mweemba, Chief Accountant (Management’s representative), Mr Obrey Katungu, Board Chairperson, Mrs Aggie Mumbi, Board Secretary, Mrs Felistus Kabambe, Board Treasurer, Mr Sage Samuwika, General Manager and Mr Kaite Siachiwena, Operations Manager.