Omuti, answered honestly.
Plain answers on clubs, loans, investing and safety. Open a question to read it.
Is Omuti free to use?
It is free to download, free to open an account, and there is no subscription. Depositing, contributing, investing and moving money from a fund back into your wallet all cost nothing. The one charge is a flat fee when you withdraw from your wallet to your bank or mobile money, from UGX 1,500 on withdrawals up to UGX 100,000 to UGX 20,000 above UGX 5,000,000. Because it is flat, it is proportionally largest on the smallest withdrawal, so it pays to withdraw less often. The full table is in section 17 of the Terms.
Is Omuti live, and where do I get it?
It is live now. Get it on Google Play for Android or the App Store for iPhone, and search for Omuti in your app store. Omuti is a phone app, so there is nothing to sign in to on a computer.
Is Omuti a SACCO or a bank?
No. Omuti is an app for your own savings group, like a digital SACCO or VSLA. We are not a bank, broker, dealer, fund manager, or investment adviser. We coordinate and keep the record. Money you invest is pooled into an omnibus account Omuti holds with a licensed fund manager, and our record is what says which share of it is yours.
How does a savings club work?
A savings club pools regular contributions from trusted members on a schedule you set. Everyone sees the same transparent shared ledger, with roles for Chairman, Treasurer, Secretary, and Member. You can run a 2-person Duo club or a full Standard club. Read more on savings clubs.
What is a club loan and how do club loans work?
Club Loans are internal: a member borrows from their own club's pooled savings, governed by club rules, approved by whoever your club named, never the borrower, and tracked on the club record with a repayment schedule. This is not consumer, personal, or payday lending; repayments flow back into the shared pool.
How is my money invested, and what are the risks?
Investments are placed with licensed East African unit trust managers, regulated by Uganda's Capital Markets Authority (CMA) under the Collective Investment Scheme Act. Investing carries risk: values can go up and down and returns are never guaranteed. Read more about investing.
Who regulates the investments?
The unit trust and asset managers Omuti works with are licensed and regulated by Uganda's Capital Markets Authority (CMA) under the Collective Investment Scheme Act, 2003. You can check them on the CMA licensed firms register. Check the CMA licensed firms register.
Is my money safe, and do you verify identity?
Investments sit with the licensed fund manager, pooled into one omnibus account that Omuti, or a nominee it appoints, holds there, and Omuti records the share of that account that is yours. There is no account in your own name at the manager, so our record is what establishes what you own. We verify identity through KYC, encrypt your data, keep permanent audit trails, and in a club with more than one member the person who approves a request is never the one who raised it.
What is the minimum to start investing?
Omuti's minimum to start investing is UGX 100,000, and you can invest as a club, together. Individual clubs may also set their own contribution thresholds for saving.
Can I use Omuti from the diaspora?
Yes. Ugandans in the UK, US, or Gulf can join or run a club with family back home and contribute on schedule from anywhere, seeing exactly where every shilling sits on the shared ledger. More on the diaspora page.