28th October 2022
Wazalendo Savings and Credit Cooperative Society (WSACCO) has continued expanding its network of cash operating branches. Gulu City branch that was launched on 28th October 2022 becomes its 7th cash operating branch and the 4th branch to be established outside the military barracks premises. The other three are Entebbe, Kampala and Moroto branches. The Gulu City branch is located on main street, plot Number 27 Gulu Avenue Road Opposite UMEME offices and Centenary bank.
Currently Wazalendo has a network of 19 branches and 06 liaison offices spread across the country with one liaison office located in the Somali Capital Mogadishu.
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The 4th Infantry Division Commander Brig Gen Bonny Bamwiseki who officiated at the launch asked the people of Gulu to embrace the entry of WSACCO to Gulu city because the branch will not only benefit the members of the SACCO but also support the growth of the city and national economy because the funds accessed by the members from the branch will be spent within the city.
Bamwiseki applauded the Commander In Chief and the UPDF leadership for a clear strategic direction that has brought peace and security and created a conducive environment for economic activity and businesses to thrive. He also lauded the President’s efforts to revive the economy and promoting SACCOs as vehicles for mobilizing the capital needed to enable the population engage in production and household income generation.
Bamwiseki called upon Gulu city and the Gulu District leadership and the community to learn from Wazalendo SACCO and help community SACCOs to grow and become sustainable. He concluded his marks by asking WSACCO members to take full advantage of the opportunities offered by the branch to improve their welfare through savings and access to affordable credit.
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“Research and benchmarking had to be conducted from countries that had successfully implemented welfare schemes in the area of Cooperatives to address welfare of service personnel. Remember by that time, insurgency had ended in most parts of the country and now keeping soldiers home when they are poor was a potential security threat to the country that the leadership had identified. WSACCO started in 2005 ,with a lot of challenges but we were firm and resolute to achieve all that we have today”. Ocan stressed. He identified having a clear strategic direction and adherence to the SACCO’s Core Values of; accountability, integrity and professionalism among others as key success factors .
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“What is the reason for any member of the UPDF to be poor given the natural resources Uganda is endowed with, the good infrastructure and peace and security that government has put in place?” Gen Kavuma asked. Gen Kavuma noted the need for mindset change if members are to benefit from the services offered by the SACCO.
Col Kitanda on behalf of Gen Kavuma appreciated the partner banks which have supported WSACCO’s journey and informed them that WSACCO is not in Gulu city to compete with them but to work together with the banks to deliver quality service to the members by closing the service gaps .
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Onata noted that opening of Gulu city branch demonstrates the intent to continue improving the lives of soldiers and ensuring Member’s convenience and satisfaction.
“Under the Cooperative Societies Principle of Cooperation among Co-operators, Wazalendo SACCO shall offer free training to upcoming SACCOs and allow them come to benchmark for best practices from WSACCO as well as sharing experiences at no cost”. The CEO pledged. He however advised those who shall come to benchmark with WSACCO not to just copy and paste what they see at WSACCO but modify everything to suit their individual SACCO unique environment and circumstances.
He said that WSACCO has taken it’s time to train it’s personnel to ensure that everyone understands the strategic direction so that the vision and mission are achieved. “We think that this is the right time for us to come out of the barracks because we are very confident of; our internal capacity, support from the line Ministries and UPDF leadership, support from our strategic partners (bankers and ICT providers) and Apex bodies. “Our confidence is further backed by our own professionalism and impressive operational and financial performance. We believe that coming outside the barracks will strategically enhance our brand and create more growth opportunities. We are ready to support our members to engage in productive activities and contribute to national economy”. Onata said.
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He challenged the staff who are going to operate the branch to ensure that the branch becomes productive and serves members better and not to stand there as a “white horse”.
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“I don’t move with escorts and I am safe because of the sacrifice of UPDF that stoped war in Northern Uganda. For that matter, I pledge on behalf of local government to mobilize for WSACCO and other SACCOs around to ensure they emulate Wazalendo methods of work. Am going to be your mouth piece because the SACCO is going to benefit everyone in Northern Uganda”. Noted Mr Opio.
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Compiled by:
Charity N Namanya
Public Relations Manager
WSACCO.