WSACCO WAZALENDO SAVINGS AND CREDIT COOPERATIVE SOCIETY LIMITED
WAZALENDO SACCO HOSTS ZAMBIA NATIONAL ASSEMBLY SACCO
Wazalendo Savings and Credit Cooperative Society (WSACCO) hosted representatives of Zambia National Assembly SACCO Board of Directors and Management who are in the country for a benchmarking visit. The visitors were hosted on 16th August 2023 at WSACCO Headquarters in Kiwatule.
The WSACCO Chief Executive Officer Col Joseph Freddy Onata who welcomed the Zambia National Assembly SACCO delegation delivered a lecture of opportunity to visitors. In his presentation, Col onata highlighted the background to formation of WSACCO and its strategic direction as summarized in the SACCOs vision, mission and objectives. He also outlined the achievements and factors behind WSACCO’S success over the last 17 years.
Col Onata thanked the Uganda’s Parliamentary SACCO leadership for choosing WSACCO as one of SACCOS for the Zambia National Assembly SACCO delegation to visit and learn from. He encouraged the members of the delegation to build a legacy that will be counted on them in future. “We are very sure that the knowledge that you have acquired from WSACCO is going to create a difference in your operations when you go back. Believe that you are upto the task given to you and work to create a legacy that you will be remembered for in terms of contributing to the growth and sustainability of your SACCO”, said the CEO.
Onata emphasized that what makes a SACCO successful is having the numbers in terms of membership and the financials, relevance of products to the members changing financial needs and preferences and the quality of service delivery. He also stressed the importance of leaders understanding of the vision of the SACCO and being able to explain and break it to the members.
He further underscored the importance of good governance, continuous member training, capacity building, professionalism and management commitment to ensure sustainability of the SACCO. He noted that WSACCO’s staff work not only for money but also ideologically understand the significance of the unique service that they offer to members to the peace and stability of the country. He advised the visiting delegation to pick a leaf from such sacrifices. 
The Chairman BOD of Zambia National Assembly SACCO Mr Obrey Katungu who spoke on behalf of the visitors, applauded WSACCO for being committed and able to design various products that ably address the needs of the members. “What has stood from this benchmarking is that you have a fund where your members can save for their retirement. This is the issue that has been under discussion in the National Assembly to see how we can help our members have long term social protection when they retire. I am impressed that your SACCO has specifically provided for social protection in terms of the retirement fund. It is a lessons that we shall take back to our country and see how to incorporate to our service profile” said Mr Katungu.
The Chief Executive Officer of Uganda Parliamentary SACCO Mr Methods Mureebe congratulated WSACCO for the strides made in a short period of 17 years in terms of membership, savings, loan portfolio and assets among other achievements.
According to Mr Mureebe Zambia National Assembly SACCO came to Uganda to benchmark on it’s sister SACCO the Uganda Parliamentary SACCO which also referred the delegation to Wazalendo SACCO as one of the biggest and successful SACCO in Uganda with more than 90000 members and total assets of 873Bn.
In attendance were the WSACCO BOD Secretary Col Dan Tizihwayo, Director of Finance and Administration Lt Col Yusuf Buha Magero,Acting Director Operations Maj Arthur Kwezi and all members of WSACCO top Management.
Compiled by,
Charity Namanya
PR Manager WSACCO