Konnect Initiatives is a member based savings and investment Mutual Fund (registration No. 80020002551753.) Our main purpose is to provide financial, investment and business development services to members on a sustainable basis. It is an open-ended savings and investment fund that offers a platform for Members to grow by pooling resources together. Konnect Initiatives offers financial literacy, financing (through debt and equity) as well as providing value adding business development services such as book keeping, financial planning, marketing and technology. We promote financial prosperity among our members by providing guidance and support in prudent financial management and investment. Konnect Initiatives was started in 2017 as a Business Fund to help local businesses and local investors with a desire to grow into influential international players. It started as an initiative incubated by a local Savings and Credit Society and eventually matured into a standalone business in July 2020 when it was registered as a separate business from the incubating SACCO.

Konnect Initiatives is a member owned institution hence it is owned by all its members by paying a membership fee at the point of joining and then paying annual subscription for subsequent years. We also have a Konnect Development Fund which is owned by members who wish to own shares in the said Fund, which operates as a Special Purpose Vehicle for Investment. A member is free to buy and own as many shares as they wish to buy.

The primary membership of Konnect Initiatives consists of progressive members of society who desire to grow in the area of investment, finance and/or business. ”

Konnect Initiatives offers financial, investment and business development products and services including but not limited to savings accounts, investment accounts, retirement savings accounts as well as equity and loan financing. We also have a special purpose Investment Fund, which is the investment arm of Konnect Initiatives that supports business people and entrepreneurs by providing specialized financing to high growth businesses through long term specialised equity and loan financing.

Savings are refundable and earn attractive interest rates. We also offer Money Placements which provide an avenue for investments in different investment vehicles including local businesses. Money Placements earn a slightly higher rate than the regular savings accounts.

By opening up a membership account with Konnect Initiatives, a member is able to start saving and growing their investment fund through regular savings (which can be daily, weekly, monthly or quarterly). Through regular savings a member is able to accumulate money for investment, retirement or managing emergencies. We also provide short-term, medium term and long-term financing to our members who are involved in business and enterprise.

Account Statements are issued monthly at the beginning of the month. But they can also be issued at any time on request from the member.

Remittance can be done by making a direct cash deposit at any of our Hubs or through our Bank Account Konnect Initiatives Limited Account Number 3100075787 Centenary Bank using any of their branches or Agents.

A share represents a unit of ownership with the Konnect Development Fund. A member may wish to invest by buying shares into the Fund, although buying a share is not mandatory. However, for a member who decides to buy shares in the Fund, a share represents the member’s share ownership in the Fund and shares do not form part of the member’s savings and they are not refundable upon exiting the Fund but are transferrable to a Konnect Initiatives member.
Shares are not used for loan eligibility calculation. Shares earn Dividend at the end of the financial year when the profit of the Fund is being distributed among the members. Thus, members are encouraged to increase their shareholding in the Fund in order to reap more dividends. Dividends are calculated based on the shares of the member as at the end of the financial year. The dividends earned depend on the profit made by the Fund as per the Annual Audited Accounts. The dividends attract withholding tax.

Konnect Initiatives has a number of Hubs and Points of Representation across Uganda and the African Continent. The hubs are open from Monday - Friday (09h00 to 17h00). The main office is found at Ntinda Kiwatule Road, Mpungu Close (before Waves Fitness Harbor). We also have Hubs in Bweyogerere, Jinja, Kiira, Iganga, Mbale, Mukono, Tororo, Soroti, Mbarara and Masaka.

Konnect Initiatives has formal and regulatory corporate governance mechanism for the safety of members’ money. These include controls and procedures, governance and reporting structures that all provide for the safety of the members’ money and resources. Above all, Konnect Initiatives is run by a diverse Board of God-fearing and seasoned professionals whose main responsibility is to provide stewardship for the resources under their care.

Yes, a member can make a partial or full withdrawal of their savings. Withdrawals attract a withdrawal fee, which is meant to discourage unnecessary withdrawals and promote a culture of saving.

Konnect Initiatives is a member-owned institution. Our philosophy is “members helping and supporting each other to progress and prosper financially.”