Africa-Press – Uganda. Wazalendo Savings and Credit Cooperative Society (Sacco) has flagged off the construction of a two-storey commercial complex in Nakasongola District, marking another milestone in the Sacco’s expansion and its commitment to improving the welfare of Uganda People’s Defence Forces (UPDF) personnel and their families.
The groundbreaking ceremony was officiated by the General Manager of Luwero Industries, Major General Mzee Sabiiti, who commended Wazalendo Sacco for aligning its programmes with the strategic direction of the Commander-in-Chief aimed at enhancing the socio-economic welfare of UPDF officers, militants, and their families.
Maj Gen Sabiiti described the new complex, which will house the Wazalendo Sacco Nakasongola cash-operating branch alongside rentable commercial spaces, as a symbol of the Sacco’s sustained growth and its contribution to sustainable welfare financing.
He said the expansion of Wazalendo Sacco reflects the gains of the Tarehe Sita struggle, noting that as the country marks 45 years since the liberation, the growth of a welfare initiative directly supporting the armed forces is a significant achievement.
Reflecting on the Sacco’s origins, Sabiiti recalled that before its establishment, many soldiers struggled to access affordable credit, as commercial banks often viewed them as high-risk borrowers and charged high interest rates. He said this situation prompted intervention by UPDF leadership.
He noted that in 2005, commanding officers were tasked to mobilise units to join the SACCO, adding that two decades later, the impact of that decision is evident in the improved financial wellbeing of many service members.
Sabiiti further praised Wazalendo Sacco for encouraging generational membership by extending services to families of serving personnel, saying this approach strengthens long-term welfare sustainability within the UPDF fraternity.
He also urged the Sacco to consider offering selected services to civilians to further strengthen civil–military relations.
Speaking at the event, the Acting Chief Executive Officer of Wazalendo Sacco, Col Yusuf Magero Buha, thanked the UPDF and Sacco leadership for their guidance and support, which he said has enabled innovation and improved service delivery.
Col Buha announced that the Nakasongola branch will become the Sacco’s 15th cash-operating branch, describing it as one of the oldest and most strategically located branches.
He said the branch currently processes between 480 and 500 loans per month, valued at about Shs3.5 billion.
He also revealed that the Kabong Liaison Office was launched on the same day, while the 14th cash-operating branch is scheduled to open in Kihihi on February 26, 2026.
Plans are also underway to establish a branch in Lira in 2027.
Highlighting the Sacco’s financial performance as of December 31, 2025, Buha reported a surplus of Shs 105 billion, a loan portfolio of Shs1.14 trillion, and total assets valued at Shs1.4 trillion.
He thanked President Museveni for his continued support of the Sacco movement and for guiding the development of regulations aimed at ensuring sustainability and growth.
Representing the Board of Directors, Capt Isaac Bisaru said the Nakasongola complex will benefit not only Sacco members but also the wider community through job creation, tax contributions, and opportunities for other Saccos to benchmark and learn.
The ceremony was attended by Col Omaria from the Mountain Infantry Division, Col Samuel Ssekamwa, the Division Intelligence Officer, Ms Bazizari Allen representing the Mayor, Capt Dathan Bunanukye, Wazalendo Board Member for the Western Region, WO I Osuko Peter, Board Member for West Nile, Director of Operations William Atalyeba, and other invited guests.
The development underscores Wazalendo Sacco’s growing role as a key pillar of financial empowerment and welfare support within the UPDF and the wider community.
