The Bank of Uganda has further extended, from Sept. 30, 2026, to March 31, 2027, the deadline for Regulated Financial Service Providers to update their Know Your Customer practices and transact only with licensed large Registered Societies or Savings and Credit Cooperative Societies. Eligible SACCOs must complete licensing by the new deadline, which the central bank said will not be extended again. The requirement covers SACCOs with voluntary savings above UGX 1.5 billion and institutional capital above UGX 500 million. These institutions must collect and submit license applications within 14 calendar days of the notice, while financial service providers must establish adequate internal controls to identify and manage related material risks.
Source: 2026-09-30Bank of Uganda
Bank of Uganda extends large SACCO licensing compliance deadline to March 31, 2027
The Bank of Uganda has extended the deadline for large SACCO licensing and licensed-only dealings by Regulated Financial Service Providers from Sept. 30, 2026, to March 31, 2027. Eligible SACCOs must submit applications within 14 calendar days of the notice and complete licensing by the new deadline, with no further extensions planned.