Wazalendo SACCO Opens 15th Cash Branch In Nakasongola

Wazalendo SACCO has opened its 15th cash branch in Nakasongola District, with members urged to embrace consistent saving, responsible borrowing and sound financial management to improve their economic wellbeing.

The Commander Motorised Infantry Division, Maj Gen Charles Byanyima, who presided over the official opening of the branch commended the SACCO’s leadership, management and members for the institution’s growth.

He encouraged members to cultivate sound financial habits by saving consistently, borrowing within their means and investing loans in productive ventures that generate sustainable income.

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

He noted that financial discipline and proper planning were essential for personal development, family welfare and long-term economic stability.

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

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

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

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

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

Brig Gen Buha urged members to strengthen their savings culture, borrow responsibly and channel credit facilities into productive investments, adding that 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.

The Director of Operations, Mr William Atalyeba, highlighted the importance of operational efficiency, customer care and professional service delivery in ensuring that members receive timely and reliable assistance.

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

Meanwhile, 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 provide opportunities for sustainable value creation, infrastructure development and long-term investment returns.

Lt Col 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 branch is expected to improve access to financial services for members in the district and surrounding communities by reducing the distance travelled to reach the SACCO.

The opening 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.