2025/26
Contributions
With consistent savings and income-generation we see Nabumali89 growing its worth to a minimum of Ugx. 400M by end of FY2025/26. You can find our Year IV Performance Reports at the following links:
| Contributions | Monthly Savings | Credit Portfolio | Revenue Report |
2024/25
YR III (2024-25) REPORTS
- | Savings and Fees contributions
- | Credit and Real Estate Portfolios
- | Nabumali89 Shop - Tshirts update
- | Expenses
- | Revenue
- | Interest Accrued
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AGM #2
| Minutes | YR II Company Performance overview | YR II Financial Statement - Income Statement · Balance Sheet · List of Savers · Credit Portfolio · YR II Interest Distribution - more on AGMs
Note: we endeavor to maintain up-to-date reports
Savings, Administrative fees and other contributions
We maintain an annual administrative fee of UGX 10,000 per member to support our operational costs. Additionally, a one-time Share Certificate fee of UGX 5,000 is charged per member.
Our Year III Savings target is a minimum of UGX 154.4 million, with each member contributing a minimum of UGX 3.6 million by July 31st, 2025. Our goal is to achieve our group objectives by maximizing savings and generating substantial income through the growth of our investment portfolios. For a detailed breakdown of member contributions, please refer to our Contributions report.
Real Estate & Credit Portfolios
Real estate remains a cornerstone of our investment strategy due to its promising prospects. We successfully acquired our first property in Year I (FY2022/23), investing approximately UGX 35 million. We remain committed to identifying and capitalizing on the best investment opportunities within our financial capabilities.
In this fiscal year (Year III, 2024-25), we aim to disburse a minimum of 15 loans, with a primary focus on business and education loans. Our commitment to education continues to be a significant driver of our credit portfolio allocation.
We are also excited to announce the launch of a new product, the Nabumali89 Fast Loan (NFL). For a comprehensive overview of our portfolio performance, please refer to our Portfolios report.
Other Investments
The Board and management are actively exploring opportunities in other investment avenues. Treasury bonds are currently being considered due to their potential for stable, albeit modest, returns.
Income
We are pleased to report that we achieved breakeven in Year II, generating income of just over UGX 3 million. This income was distributed among members based on their individual savings at the beginning of Year III in August 2024 (refer to the YR II Interest Distribution schedule). We are optimistic about our continued progress in Year III, as evidenced by our Revenue report.
Cost
Since our inception, we have maintained a strong focus on cost efficiency. Our highest expenditure occurred in Year I, totaling approximately UGX 6.4 million. We remain committed to our volunteer-based staff and board structure throughout Year III.
To achieve our goals and operate efficiently, we encourage all members to maintain consistent savings and promptly pay their annual Administrative Fees.
2023/24
YR II (2023-24) REPORTS
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AGM #1
| Minutes | YR I Company Performance overview | YR I Financial Statement - Income Statement · Balance Sheet · List of Savers · Credit Portfolio · - more on AGMs
Note: we endeavor to maintain up-to-date reports
Membership
We had one exit and two new entries; we grew our membership by one.
Savings
Our Year II Savings target was a minimum of Ugx. 150M by 31st July 2024 with the goals of growing the group's income-generation, support capacities and investment portfolios - with focus mainly on Real Estate due to its promising prospects. We grew savings to Ugx. 49,076,281.
Real Estate Portfolio
Our real estate portfolio did not grow in terms of number of properties but in value; since we acquired our property, property value in Katosi has gone up by 7%; by end of Year II, we had not liquidated.
Credit Portfolio
Our Year II target was to disburse 10 loans; we surpassed this target by three loans (13 loans disbursed) all amounting to Ugx. 41.15M. We disbursed 9 Education Loans (Ugx. 25.6M) and 10 Business and Personal Loans (Ugx. 15.55M); our initiatives towards education took most of the funds allocated to our credit portfolio.
Cost
We endeavored to run at minimal cost throughout Year II; we incurred Ugx. 230,000. All staff and board served on volunteer basis.
2022/23
2022-23 REPORTS
Note: we endeavor to maintain up-to-date reports
Quite significant of achievements is the moments and events towards our first reunion and when we actualized it on 30th July 2022 with a walk in the Kololo area and breakfast at Java House - Lugogo. We have grown to a 47 strong membership. Since then, we have kept together, interacting regularly, and supported several of our members in times of grief.
On the 16th of September 2022, we had our first entity, Nabumali (89) Investment Company Ltd incorporated; around the same time, we also opened a Bank Account and acquired a Postal address, a Trading License, and a TIN to enable us operate legally; we now have a website and are increasing our use of low-cost digital technologies in our operations.
In July 2022, we received a number of donations from generous members; we always endeavor to manage funds well. In August 2022 we started Savings as a group; by end of 2022, our reserves had grown to Ugx. 39.9M; our target is minimum Ugx. 65M in Savings by June 30th 2023. By August 31st 2023, we will have the BC89 - Nabumali89 T-Shirts printed and distributed; we will continue to study/engage the market for more business; we will also have the Share Certificates printed, signed and handed to members.
We have so far disbursed a total of Ugx. 19.4M close to interest-free credit to our members since September 27th to date. We have so far recovered 11.34M principle (58.5% of sum loaned out), 939,604 in interest and 217,500 in penalties.
We made full payment on a property in Katosi - Mukono on January 11th 2023; we plan on having ownership of the property transferred to Nabumall89 before end of March 2023; it is also urgent that we keep the land busy; that we grow food (say cassava) on it to ward off illegal squatters and other adverse ownership and occupancy issues, as we continue to market the property for Sale at reasonable profit.
We are engaging members of Board, its Committees and the group on more stable, high cash-flow frequency, low risk Investment Vehicles; there is growing consensus for us to move a substantial chunk of our reserves/resource to Treasury Bonds because of their low-cost and low-supervision requirements but also to enable the group generate more regular and consistent income, to sustainably support Members, NHS via NOSA and Community and to stimulate growth of membership.