Mindset change will drive Wazzalendo Sacco


NEWS– The Chief Executive Officer (CEO) Wazalendo Savings and Credit Cooperative Organization (WSACCO), Col Joseph Freddy Onata has challenged Principal Staff Officers (PSO’S) and  Branch Managers of WSACCO to reset both their souls and minds if they are to drive further the vision and mission for WSACCO.

The CEO made these remarks, on Friday while addressing a joint meeting for Managers of the 19 branches of WSACCO across the country and Principal Staff Officers(PSOS) drawn from the 4 UPDF Services, Infantry divisions and Specialised Formations at Wazalendo SACCO headquarters in Kiwatule-Kampala.

The meeting, according to Col Onata  was for the managers and PSOs to know each other, identify loopholes and barriers to quality service delivery, consolidate the roles of different organs of  WSACCO, develop linkages, and forge a way forward that can further be followed to achieve the objectives of the SACCO.

The CEO  further appreciated the great job done by the PSOs  and  Political Commissariate  in preaching the gospel of savings. 

“Coordination will enable us to achieve as a team’’ Col Onata noted.

The Acting Director Finance and Administration WSACCO Col Wesley Aine appreciated staff for the hard work amidst the global Covid 19 pandemic. He encouraged them to serve deligently if they are to retain the positive brand of WSACCO. 

‘’I call upon you to do more in terms of service delivery for the betterment of our members. We need to develop better communication skills in order to avail accurate and reliable information about WSACCO to members,’’ said Col Aine.

He added that Wazalendo has the best services and products which both members and  potential members must know.

The Director Operations at WSACCO Mr. William Atalyeba highlighted the achievements WSACCO has registered in its16 years of existence, which include Branch network development of more savings and credit products, and extension of other services to members, among others. 

WSACCO currently has 19 branches and 05 Liaison offices across the country. 03 branches in Bombo, Jinja and Mubende are cash operational branches.

 ’We proudly speak of better  service delivery evidenced by the growth in our  disbursements,  since 2007 when borrowing started to date. We have disbursed Ugx 1.557 Trillion average lending to our  members, mobile banking service is to be launched before the end of this month, and 02 more cash branches will soon be opened in Kampala and Entebbe before the end of December 2021,” he said. 

He noted that a Business Savings Account  intended for members who would wish to save from other sources of income outside salary has been introduced.

Mr. Atalyeba further informed members that WSACCO has done a good job in giving credit to members and should now focus on the impact caused by loans on members welfare.

The WSACCO Currently has membership of 85,602, Share capital of 218bn, Savings 208.3bn, Assets 606.2bn, Loan portifolio 468.8bn, Cumulative disbursements 1.557Trn.

On behalf of the PSOs, Col Ibrahim Keddi applauded the management of WSACCO for the great work done towards improving the welfare of  members, their mobilization, and other forms of  support that have enabled the growth of the SACCO.

The meeting was also attended by UPDF Senior and Junior Officers.