Jinja, Uganda – The Wazalendo Savings and Credit Cooperative Society (SACCO), a financial institution for members of the Ugandan military, has marked significant growth over the past two decades, expanding from just 30 members to 111,283. The institution has also disbursed over Shs3.6 trillion in loans to its members, strengthening financial inclusion within the military community.

Speaking at the 19th Annual General Meeting (AGM) held at Gaddafi Barracks in Jinja, the Chairman of the Board of Governors, Lt Gen Sam Kazuma, attributed the SACCO’s success to strong governance and strategic financial management.

“In just two decades, Wazalendo SACCO has grown tremendously, empowering our members financially and ensuring they have access to affordable credit. This growth is a testament to the dedication and trust our members have placed in us,” Lt Gen Kazuma stated.

In 2024 alone, Wazalendo SACCO disbursed Shs918 billion (approximately $235 million) in loans through its 19 branches across the country. This funding has been instrumental in supporting various financial needs, including home construction, education, and business investments for military personnel and their families.

The AGM was attended by several dignitaries, including former police chief Gen Kale Kayihura, alongside other senior military officials. The meeting focused on reviewing the SACCO’s performance, discussing future growth strategies, and reinforcing the institution’s commitment to improving the financial well-being of its members.

Wazalendo SACCO remains one of Uganda’s most successful cooperative societies, providing a crucial financial safety net for Uganda People’s Defence Forces (UPDF) personnel. As it continues to expand, the SACCO aims to introduce more innovative financial products and services to cater to the evolving needs of its growing membership.