UPDF Troops Urged To Plan Before Taking SACCO Loans

Troops under the 4 Infantry Division of the Uganda Peoples’ Defence Forces have been urged to carefully plan and conduct market surveys before taking loans from the Wazalendo Savings and Credit Cooperative Society (WSACCO). This advice was delivered during a regional sensitisation drive led by a team from the SACCO’s headquarters in Kampala.

The ongoing mobilisation campaign, themed “Mindset Change for a Better Future,” is aimed at encouraging soldiers to adopt responsible borrowing habits and to take full advantage of new SACCO products and services.

Maj Livingston Musiime, Head of Information and Security at WSACCO, told the troops at the 4 Division headquarters in Gulu that there is a growing need to educate newly deployed militants on how the SACCO operates.

Troops were advised to conduct proper planning and market research before applying for loans, to avoid taking on debt for ventures that are not sustainable. “Understand the demand for your product or service and position yourself strategically,” he advised.

He urged the troops to move away from consumption-driven borrowing and instead invest in income-generating assets. “Avoid being misled by slogans like ‘Kula zote’. That kind of mindset will only leave you financially exposed,” Maj Musiime warned.

Capt Jonathan Kizito, head of the Wazalendo Single Member Company (SMC) Ltd, stressed the importance of investing in essential assets as a foundation for building lasting wealth.

He highlighted the “Malipo 25” product, which allows members to acquire and use land while paying in installments over two years with full land ownership documents issued after completion of payments.

Capt Kizito encouraged troops to consider purchasing plots from Wazalendo estate sites in Namayiba (Mukono), Matugga-Mabanga, and Bujjuko along Mityana Road.

“Think about where you are financially, where you want to go, and how to get there. Let your borrowing be guided by purpose, not impulse,” he concluded, emphasising the need for financial discipline and cooperation in managing loan funds.

The meeting was attended by WASACCO members serving under the 4 Infantry Division.