WSACCO WAZALENDO SAVINGS AND CREDIT COOPERATIVE SOCIETY LIMITED
The Chief Executive Officer-Wazalendo Sacco (WSACCO) Col Joseph Freddy Onata has advised Wazalendo staff to examine their lifestyles if they are to benefit from the financial opportunities the SACCO avails.
The remarks were made on 22 Sept 2020 while addressing a monthly scientific staff meeting at the SACCO headquarters in Kiwatule.
Col Onata stressed that Wazalendo does not only give financial support through loans and salaries but also gives financial literacy to its staff and members on how to utilize the funds.
The CEO encouraged staff to act exemplary in handling personal finances and went on to appreciate them for their efforts towards the growth of the SACCO amidst Covid 19 challenges.
He further noted that the essence of the meeting is to foster cooperation amongst employees and management, to provide and share effective information, to review the previous issues and address any occurrences.
Col Onata advised each staff to have targets as they come to work and be accountable for the position each one holds, in order to work towards achieving the objectives of WSACCO.
According to Head Finance Maj Julius Katanaka, WSACCO has in the previous month of September registered tremendous developments in terms of financial performance.
As at 30th September 2020, the details are indicated below.
The actual total Operating Income was UGX 47.6Bn against a projection of
UGX 49.1Bn at a performance of 97%.
The financing costs on actual savings stood at
UGX 7Bn against a projection of UGX 7.4Bn.
Net operating income at
UGX 40.5Bn against a projection of UGX 41.7Bn.
Total Operating Expenses UGX7.2Bn against a projection of UGX 8.7Bn. The month Climaxed with a surplus of UGX 34.1Bn against UGX 33.7 at 101%.
The Head of Credit and banking informed the Staff that Waza Quick loan a new product that was launched in September 2020 had picked up well registering 651 loans and a total outstanding portfolio of UGX 615970,000.
The loan disbursements for the month of September were UGX 20,653,147,509 for 3607 loans.
In attendance also was the Director Finance and Administration Col Jack Mugyerwa, Political Commissariat Col John Nuwagaba, Director Operations and other heads of departments.