Wazalendo SACCO has showcased its institutional transformation, financial growth and investment initiatives at the National Cooperatives Conference held at Makerere University Business School.
The conference brought together stakeholders from government, academia and the cooperative sector to discuss sustainable growth, innovation and professional leadership.
Speaking at the conference, the Third Deputy Prime Minister and Minister without Portfolio, Hon. Lukia Isanga Nakadama, emphasised the importance of equipping cooperative leaders with knowledge and skills to promote good governance, accountability and sustainable development.
“The programme is intended to expose young people to the cooperative model as a viable economic opportunity and a platform through which they can mobilise resources, access finance, create employment and improve their livelihoods,” she said.
Presenting Wazalendo SACCO’s achievements, the Vice Chairman of the Board of Directors, Brig Gen Peter Omola Gaetano, who represented the Board Chairman, outlined the SACCO’s transformation from a savings and credit cooperative into a diversified, technology-driven institution.
Brig Gen Omola reported that the SACCO currently holds approximately UGX 1.4 trillion in total assets, UGX 560 billion in capital and a loan portfolio of UGX 1.3 trillion. It has cumulatively disbursed about UGX 4.4 trillion in loans to members.
Through Wazalendo Investments Limited (WIL), the SACCO has expanded into road construction and real estate, while WAZA Market supports members in promoting their products and accessing wider markets.
“The diversification strategy forms part of a broader journey from financial welfare towards value creation and sustainable development,” Brig Gen Omola said.
He attributed the SACCO’s growth to member participation, a strong savings culture, professional management, innovation and sound governance.
Brig Gen Omola said future priorities include expanding digital services, strengthening risk management, developing member-focused products and increasing investment opportunities.
He noted that sustainable institutional growth requires accountability, compliance and continuous value creation for members.
The conference was jointly organised by the Uganda Cooperative Alliance (UCA), Makerere University Business School and the Cooperative University as part of a cooperative education initiative. It brought together stakeholders from government, academia, the cooperative movement, the private sector and development partners to celebrate Uganda’s cooperative sector achievements and discuss its future.
