SENIOR COMMAND AND STAFF COLLEGE (SCSC) APPLAUDS WAZALENDO SACCO FOR HOLISTICALLY HANDLING WELFARE

 

The leadership of Senior Command and Staff College – Kimaka has applauded Wazalendo Savings and Credit Cooperative Society (WSACCO) for being the best welfare driver for the UPDF. 

 

The remarks were made by the Deputy Commandant of the College Brig Silver Muhwezi while receiving 104 sports and games items on behalf of the Commandant Maj Gen George Igumba at SCSC Kimaka offices in Jinja on 25th November 2022. Brig Muhwezi noted that Wazalendo has not only dealt with the issues of Savings and Credit but also has considered the health of it’s members. 

 

Muhwezi appreciated Wazalendo SACCO leadership for making it the best solution to the welfare issue of the forces. In the same vain, Muhwezi appreciated WSACCO for thinking of giving back to it’s members and Kimaka in particular by honouring the request under the Corporate Social Responsibility function. “I took long to join the SACCO. At that time it was very hard to convince soldiers to join since they were biased about the project. The late Gen Aronda Nyakairima (RIP) Mobilized, preached the gospel and put conditions where it was a must for the leaders to join so that they explain the idea to those under their command. Now I can testify as a beneficiary of WSACCO that I bought land which has appreciated in value. I also built a house among other projects that have invested in. I am happy that today joining WSACCO is voluntary because the results speak for themselves”. Said Brig Muhwezi.

 

The Brig Muhwezi encouraged all the UPDF personnel to tap into the opportunities that WSACCO offers to improve their social-economic status. 

 

He concluded by asking the team which was given sports items to utilize them and ensure that they keep fit and healthy.

 

The Director of Finance and Administration WSACCO Lt Col Yusuf Buha Magero who handed over the items on behalf of the CEO Col Joseph Freddy Onata appreciated SCSC Kimaka leadership for the continued support rendered to WSACCO in terms of mobilisation, savings and credit that has enabled the SACCO to achieve sustainable growth.

 

“It is the mandate of Wazalendo SACCO to ensure that members’ welfare improves by creating a platform where members can save together and get affordable credit services that can effectively improve their welfare. 

This is what distinguishes SACCOs from other financial institutions which are mainly profit driven. While we are looking at improving welfare, we also consider the health of our members which we cater for under our CSR. We have done this through supporting hospitals, promoting games and sports in the UPDF and out side. By promoting sports and games, we contribute to maintaining fitness, discipline and unity among the forces”. Said Lt Col Buha.

 

He noted that, WSACCO has currently embarked on tracking the impact of the service offered, saying that much as members have taken credit worth 1.97Trn cumulatively, there is need to monitor the loan utilization by the members. Buha said that loan utilization sometimes is affected by the nature of work that the members do which affects the supervision of projects.

 

“Arising from the challenges of regulation that restricts SACCOs from doing certain businesses, WSACCO’s leadership came up with several innovations to see that the objectives for which WSACCO was created are achieved. 

To this extent, an investment arm (Wazalendo Investment SMC Limited) was registered but it is yet to launch it’s operations. This innovation will enable us tap into the business opportunities that exist in the economy in order to further grow WSACCO’s investment portfolio. We have several proposals and one of them is dealing in real estate (buying plots for members) “. The DFA clarified.

 

WSACCO has introduced a business savings account to enable members with businesses to save and get credit basing on their business savings and type of business done Instead of relying on the UPDF salary.  

 

The Tujeyunge fund has enabled members to refinance the remaining loan balances and acquire a new loans to complete their projects. This has saved members from being exploited by money lenders who charge them with high interest rates. 

 

A Mobile banking platform (Wazamobile) has been launched to enable members make transactions wherever they are without physically visiting the branch or bank. 

 

The establishment of cash branches outside the barracks is intended to create more convenient service delivery to the members.

 

Capt Norah Ongodia the Board Member Eastern asked the leadership of SCSC to continue preaching the gospel of savings mobilization and explaining to the subordinates about the benefits of the SACCO. She added that the College is a busy place which makes it hard to mobilize but once the leadership is informed and willing to pass on information, it will make an impact. 

 

Ongodia said that WSACCO is for the members and that it is the reason why the BOD does whatever it takes to plan according to members’ needs and also come up with innovations that are intended to improve service delivery to the members. 

 

In attendance also were; 

Col Martin Byegarazo in charge of Coordination, Head of teaching team Col VO Omold, Lt col Ezekiel Matsiko Administration, Director Academic Affairs Prof Mutibwa and Dr Nareba the deputy faculty Director.

 

By Charity Namanya

Public Relations Manager

Wazalendo SACCO