GULU, July 2, 2025 – – Soldiers under the Uganda People’s Defence Forces [UPDF] 4 Infantry Division have been urged to exercise careful financial planning and conduct market research before applying for loans from the Wazalendo Savings and Credit Cooperative Society Limited [WSACCO].
This guidance was delivered during a regional sensitisation drive led by a team from WSACCO headquarters in Kampala, under the theme “Mindset Change for a Better Future.” The campaign aims to promote responsible borrowing habits among soldiers while introducing them to the SACCO’s latest products and services.
Major Livingston Musiime, Head of Information and Security at WSACCO, addressed troops days ago at the 4 Division headquarters in Gulu, highlighting the growing need to educate newly deployed personnel on the cooperative’s operations.
He advised the troops to avoid impulsive borrowing and instead base financial decisions on thorough planning and sound market analysis.
“Understand the demand for your product or service and position yourself strategically,” said Maj Musiime.
“Move away from consumption-driven borrowing. Avoid being swayed by phrases like ‘Kula zote’ – that kind of mindset can leave you financially vulnerable.”
Captain Jonathan Kizito, Head of Wazalendo Single Member Company Ltd [SMC], echoed the call for financial prudence, emphasising the importance of investing in essential and income-generating assets as a pathway to long-term financial security.
He spotlighted WSACCO’s “Malipo 25” product, which allows members to acquire land and pay in instalments over a two-year period. Full land ownership documents are issued upon completion of payment.
Kizito encouraged troops to take advantage of land offers at Wazalendo estate sites in Namayiba [Mukono], Matugga-Mabanga, and Bujjuko along Mityana Road.
“Think about where you are financially, where you want to be, and how to get there. Let your borrowing be driven by purpose, not impulse,” he advised, stressing the importance of financial discipline and collaborative use of loan funds.
The sensitisation meeting was attended by WSACCO members currently serving under the 4 Infantry Division.
The SACCO members get affordable loans at an interest rate of 12 percent for agriculture loan products, and 13 percent for other loan products.
https://thecooperator.news/wsacco-empowers-updf-soldiers-in-somalia-with-financial-literacy/
Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news
