NAKASONGOLA, February 9, 2026 — Wazalendo Savings and Credit Cooperative Society Limited [WSACCO] has launched the construction of a commercial complex in Nakasongola district.
The groundbreaking ceremony was officiated by the General Manager of Luwero Industries, Maj Gen. Steven Sabiiti Muzeyi, who praised WSACCO for aligning its programmes with the strategic vision of President Yoweri Museveni, the Commander-in-Chief of the Uganda People’s Defence Forces [UPDF], aimed at improving the livelihoods of army officers and their families.
Sabiiti said the new complex, which will house the WSACCO Nakasongola cash-operating branch alongside rentable commercial space, demonstrates the SACCO’s steady growth and its contribution to sustainable welfare financing.
“The expansion of Wazalendo SACCO is a clear fruit of the Tarehe Sita struggle,” he said. “As we celebrate 45 years of achievement, it is encouraging to witness the growth of a welfare venture that directly supports our forces.”
He recalled that prior to the establishment of WSACCO, many soldiers struggled to access affordable credit, as commercial banks regarded them as high-risk borrowers and imposed prohibitive interest rates—highlighting the importance of leadership intervention.
“In 2005, commanding officers were tasked to mobilise units to join the SACCO. I was one of them. Twenty years later, I can testify that this decision changed our lives. Today, I am conveniently served by my own SACCO with humility and decency,” Sabiiti said.
He further commended WSACCO for promoting generational membership by enrolling family members, noting that the initiative strengthens welfare sustainability within the UPDF fraternity.
He also encouraged the SACCO to consider extending selected services to civilians as a way of strengthening civil–military relations.
Speaking at the event, the Acting Chief Executive Officer, Col. Yusuf Magero Buha, thanked the UPDF and the WSACCO leadership for their strategic guidance and continued support, which he said had enabled innovation and improved service delivery to members.
Buha announced that the Nakasongola branch would become WSACCO’s 15th cash-operating branch, citing its long-standing presence and strategic location.
He noted that the branch currently processes between 480 and 500 loans each month, valued at approximately Shs 3.5 billion.
He also revealed that the 14th cash-operating branch is scheduled to open in Kihihi in Kanungu district on February 26, 2026. Plans are also under way to establish a branch in Lira in 2027.
Highlighting the SACCO’s financial performance as at December 31, 2025, Col Buha said WSACCO recorded a surplus of Shs 105 billion, a loan portfolio of Shs 1.14 trillion, and total assets valued at Shs 1.4 trillion.
He thanked Museveni for supporting the SACCO movement and for guiding the development of regulations that promote sustainability and growth.
Representing the Board of Directors, Capt. Isaac Bisaru said the Nakasongola complex would benefit not only SACCO members but also the surrounding community through job creation, tax contributions and opportunities for other SACCOs to benchmark best practices.
The event was attended by Col Omaria of the Mountain Infantry Division; Col. Samuel Ssekamwa, Division Intelligence Officer; Bazizari Allen; Capt. Dathan Bunanukye, a Wazalendo Board member for the Western Region; Osuko Peter, a Board member for West Nile; Director of Operations William Atalyeba; and other invited guests.
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