Wazalendo Savings and Credit Cooperative Society (WSACCO) has launched a financial literacy and empowerment campaign targeting Uganda Peoples’ Defence Forces (UPDF) troops deployed in Somalia under the United Nations Guard Unit (UNGU) and the African Union Support and Stabilization Mission in Somalia (AUSSOM).
The sensitisation drive focused on promoting financial discipline, smart investment, and the advantages of saving with WSACCO while serving in mission areas.
Leading the campaign, WSACCO Board Vice Chairman Col Allan Kitanda underscored the importance of mindset transformation, prudent saving, responsible borrowing, and long-term investment. “Our goal is to equip you with the skills to manage your money wisely, invest strategically, and prepare for life after service,” said Col Kitanda.
He highlighted the SACCO’s growth, noting that it now boasts over 108,000 active members, assets exceeding Shs 1.2 trillion, and over Shs 2.3 trillion disbursed in loans to support member investments across Uganda.
Col Kitanda also announced the upcoming rollout of Waza Mobile, a digital platform that will allow members to access loans via smartphones. “Very soon, members will be able to access loans directly via their smartphones using Waza Mobile. This is part of our commitment to make financial services accessible, even while you are in active deployment,” he said.
Held under the theme “Mindset Change for a Better Future”, the initiative emphasised the importance of financial awareness for troops stationed in high-risk areas.
Col John Mark Ssemanda, AUSSOM Contingent Administration Officer and a founding member of WSACCO, praised the SACCO’s evolution since its establishment on 15 September 2005. “WSACCO has transformed lives,” he said. “From a humble beginning, it has grown into Uganda’s leading SACCO, empowering soldiers and their families through tailored financial products.”
Lt Col Peter Ruyogoza Barigye, Commander of UNGU XI, welcomed the initiative and encouraged soldiers to embrace the knowledge shared. “Financial discipline is key to our overall well-being,” he said. “Let’s work together to build a financially savvy team through active participation in WSACCO.”
WSACCO offers a wide range of savings and loan products, including business loans, agricultural loans, asset finance, Nyumba (home) loans, quick loans, and the Malipo loan, which enables members to purchase land from Wazalendo Estates and pay in instalments over 24 months.
This financial outreach in Somalia reflects WSACCO’s unwavering commitment to supporting its members wherever they are deployed. By extending financial education and services to troops on active missions, the SACCO is strengthening the economic resilience and welfare of UPDF personnel both at home and abroad.
