Wazalendo SACCO opens new cash dispatch outlet in Nakasongola

NAKASONGOLA, November 3, 2026 — Wazalendo Savings and Credit Cooperative Society Limited [WSACCO] has opened a new cash dispatch outlet in Nakasongola District as part of efforts to bring financial services closer to its members.

The outlet, the SACCO’s 15th countrywide, will serve more than 7,000 members, including service personnel and their families, across Nakasongola, Luweero, Nakaseke and Kiryandongo districts, as well as parts of Masindi and Oyam.

Launching the outlet on Sunday, the Commander of the Motorised Infantry Division of the Uganda People’s Defence Forces [UPDF], Maj Gen. Charles Byanyima, urged members to embrace consistent saving, responsible borrowing and sound financial management to improve their economic wellbeing.

“Save consistently, borrow responsibly and invest loans in productive activities that generate sustainable income rather than using borrowed money for unplanned expenditure,” Byanyima said.

He commended the SACCO’s leadership, management and members for its growth and encouraged members to develop sound financial habits by saving regularly, borrowing within their means and investing credit in productive ventures.

The Chairman of the Board of Directors, Lt Gen. Sam Kavuma, reaffirmed the Board’s commitment to providing strategic guidance, strengthening governance and supporting the SACCO’s sustainable growth.

“Our responsibility is to ensure that the institution continues to grow sustainably while delivering meaningful value to its membership,” Kavuma said.

He said the opening of the Nakasongola outlet demonstrated the SACCO’s commitment to taking financial services closer to its members.

The Chief Executive Officer, Brig Gen. Yusuf Magero Buha, said Wazalendo SACCO currently ranks fourth in asset base and ninth in membership, attributing the achievement to the collective efforts of its leadership, management and members.

He said the new outlet forms part of the SACCO’s expansion strategy aimed at improving members’ access to financial services in different locations.

Brig Gen. Buha urged members to strengthen their savings culture, borrow responsibly and channel credit into productive investments, saying continued growth must be supported by professional service delivery and prudent financial management.

The Chairman of the Supervisory Board, Brig Gen. Justus Rukundo, emphasised the importance of accountability, transparency and effective oversight in safeguarding members’ resources.

“As Wazalendo SACCO continues to grow, accountability, transparency and adherence to established procedures must remain at the centre of our operations. Growth must go hand in hand with strong oversight and responsible management of members’ resources,” he said.

He also called on staff to uphold discipline, accountability and respectful engagement with members to strengthen confidence in the institution.

The Managing Director of Wazalendo Investments Limited, Lt Col. Wisely Aine, highlighted the company’s contribution to the SACCO’s growth through investments in real estate development and road construction.

He said the two sectors offer opportunities for sustainable value creation, infrastructure development and long-term investment returns.

Aine added that the company remained committed to delivering quality projects, maintaining professional standards and pursuing viable investments that support the SACCO’s broader financial objectives.

The Nakasongola outlet is expected to improve access to financial services for members in the district and surrounding areas by reducing the distance they have to travel to access SACCO services.

The launch was attended by the Nakasongola Cantonment Commander, Brig Gen. Kutesa; the Director of Finance and Administration, Col Benon Jagwe Kato; and senior officers and commanders from various units within the cantonment.

https://thecooperator.news/wazalendo-saccos-total-assets-grow-to-over-shs-1trillion/

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