WAZALENDO SACCO CONCLUDES PRE- AGM WORKSHOPS

WAZALENDO SACCO CONCLUDES PRE- AGM WORKSHOPS

Wazalendo Savings and Credit cooperative Society (WSACCO) has concluded it’s Pre- Annual General Meeting (AGM) workshops in preparation for the 17th AGM that is scheduled for 24 March 2023 at Jinja Gadaffi barracks .
The workshops took place in the five regions that are represented in the Board of Directors (BOD) namely; Northern, Eastern, Western ,West Nile and Central regions. The final meeting covering the central and part of Eastern region was held at Chieftaincy of Military Intelligence Headquarters in Mbuya- Kampala on 3rd March 2023.

While closing the workshop, the Chairman WSACCO Board of Directors (BOD) Maj Gen Sam Kavuma noted that Pre AGM workshops are intended to give ample time for delegates and members of Staff and Command to discuss in detail a number of issues that will be presented to the AGM and give their views on the proposals and then go back and get more ideas from members on proposals so that they are incorporated before they are approved at the AGM.

Gen Kavuma emphasized three qualifications that delegates must have for effective representation and these included; understanding WSACCO’s strategic direction (vision, mission and the objectives), knowledge of what Wazalendo SACCO stands for, and ability to communicate such information to the members.
” I urge you to take your positions seriously and to ensure that the people you represent receive the same information and understanding of WSACCO as you do”. said Kavuma.

The Chairman said that WSACCO was formed to tackle the welfare of soldiers while in service and to enable them to prepare for better life while in retirement. Members must invest in wealth creation projects and not to liabilities and luxuries.
The Chairman appreciated the members of Staff and Command for turning up for the workshop and encouraged them to be ambassadors of WSACCO everywhere they go.

Brig Gen Abdul Rugumayo the Deputy Chief of Intelligence who officiated at the opening of the central region workshop on behalf of the CMI Maj Gen James Birungi, applauded Wazalendo BOD and Management for steering the SACCO and the good progress as presented in the reports. He appreciated the BOD for choosing CMI Headquarters to host such an important meeting concerning the welfare of the members.
” As Military intelligence we get briefs from intelligence fraternity which highlight WSACCO’S performance and challenges. WSACCO has continued to grow in terms of numb ers and assets which is impressive. We however advise that leaders must at all times work to address evolving challenges and risks that can easily bring WSACCO down. From the intelligence perspective, there Is need for immediate followup of those who desert with our money and to do due delligence before loans are issued to minimize chances of loosing money to deserters. We pledge to give total support” Rugumayo said.
He stressed the importance of among others; discipline, time management, accountability and family management which leaders must pay particular attention to if we are to tackle our welfare challenges decisively.

The Chief Executive Officer Col Joseph Freddy Onata informed members of Staff and Command and the delegates that everything done in WSACCO is aligned to the Vision Mission, objectives and core values of WSACCO.
He noted that WSACCO’s sustainability is everyone’s responsibility and stressed that the applicability of WSACCO core values of transparency and accountability are done at both institutional and individual level.

Col Onata encouraged delegates to make accountability and transparency part of their culture and encouraged them to demonstrate transparency within their families and especially to their spouses by being open to them about projects for easy management and continuity in the absence of the principle member.
He informed the meeting that expansion the of the network of cash operating branches to eight has enhanced convenience and called upon delegates to mobilize members make use of those branches by channeling their salaries through WSACCO and to embrace the Mobile banking platform (Wazamobile) as a way of cutting down transactional costs.

The CEO emphasized the importance of Loan Protection Fund (LPF) in recovering loans taken by members who desert or die leaving behind big outstanding loan balances and said that once a member dies, WSACCO does not take the property from the family unlike other financial institutions and money lenders.

During the workshop, the delegates were taken through; the background to welfare challenges in the UPDF, the role of UPDF and the individual soldier in welfare improvement, reasons for the formation of WSACCO, the governance structure and applicable laws. WSACCO operations and it’s strategic priorities for the period 2022 – 2025 were also highlighted to the delegates. Emphasis was put on the delegates’ role in ensuring that WSACCO achieves the projected performance.
The delegates were further taken through the highlights of the performance for the ended 31 December 2022 and proposals for the 17th Annual General Meeting.

Compiled by ;

Charity Namanya
Public Relations Manager – WSACCO