Wazalendo Savings and Credit Cooperative Society (WSACCO) has relocated its branch formerly located in Muhooti barracks and upgraded it into a cash-operating branch which was opened in Fort Portal City, Kabarole District.
The Commander Land Forces Lt Gen Kayanja Muhanga described WSACCO’s eighteen years as a true success story worthy of celebrating.
He applauded the founders of the SACCO particularly the late Gen Aronda Nyakairima and Gen (Rtd) Kale Kayihura for coming up with such an initiative that has not only transformed the lives of the service personnel but also helped to address their preparation for life in retirement.
Lt Gen Muhanga described Wazalendo as the new face of the Uganda Peoples’ Defence Forces and asked WSACCO leaders and other key stakeholders to guard it jealously.
The Chairman of the Board of Directors (BOD) Maj Gen Sam Kavuma emphasised the need for leaders and members of WSACCO to overcome fear which he described as the number one enemy of success.
Maj Gen Kavuma urged WSACCO to venture and tap into the opportunities that exist outside WSACCO’s common bond. He challenged the members that while the SACCO celebrates the growth of disbursements and the opening of new branches, the impact should be seen in the transformation of the members’ lives.
The Deputy Commander of the Mountain Division Brig Gen Stephen Mugerwa thanked the Wazalendo family for the strategic direction and endurance to serve the soldiers. He pledged to continue supporting the WSACCO branch even when it has been moved outside the barracks.
The Chief Executive Officer, Col Joseph Freddy Onata clarified that Wazalendo is not going to become a Commercial Bank because WSACCO members are already enjoying all the services the members would need from the banks through existing strategic partnerships with the banks. “Since this is our tenth branch, we need to emphasise the issue of convenient services to the members, promoting the savings culture through education and training,” said Col Onata.
The CEO informed the public that the branch is the first of its kind constructed on Wazalendo SACCO’s land with a commercial aspect. “The building will partly accommodate the SACCO and the remaining space will be rented to the public to generate money for the SACCO to cover branch operating expenses,” Col Onata added
The branch is under the Mountain Division and is intended to serve members from Kamwenge, Kyenjojo, Kibaale, Kabarole, Kasese, Bundibugyo districts and any other member that may walk into the branch.
