WAZALENDO SACCO (WSACCO) BOARD AND SUPCO ASKED TO BE STRATEGIC PLAN WELL AND MAKE SOUND DECISIONS

WAZALENDO SACCO (WSACCO) BOARD AND SUPCO ASKED TO BE STRATEGIC PLAN WELL AND MAKE SOUND DECISIONS

Today 13th April 22

The Secretary General of Uganda Cooperatives Alliance (UCA) Mr Asiimwe Ivan challenged Wazalendo Savings and Credit Cooperative Society (WSACCO) to be strategic, plan well and make sound decisions and innovations if the institution is to sustain it’s giant position in the SACCO industry in Uganda.

Asiimwe made the remarks during the closure of three days training of the new Board of Directors and Supervisory Committee that started on 11th April 22.

The two bodies of the SACCO were elected by delegates during their 16th Annual General Meeting held on the 24th of March 2022 Lugazi Buikwe District.

The Secretary General commended the WSACCO leadership for steering WSACCO and making it grow in terns of membership and financial status.
“The level you are now in requires you to double your efforts if your are to sustain the growth and as you venture into other investments that can sustain the SACCO’s financial status and big brand. Being the biggest SACCO, everyone is looking upto you and when you fall you will affect the entire country. Your failure God forbid shall break the hopes of many upcoming SACCOs which look upto you for mentioning and encouragement” stressed Mr Asiimwe.

The Secretary General UCA applauded the WSACCO leadership for the 16 years of sustained growth. He encouraged WSACCO’s leadership to pay special attention to emerging risks and devise ways to mitigate such risks, invest in other income earning ventures without deviating from the Vision, mission and objectives of WSACCO.

According to Mr Asiimwe, the main driver of growth in SACCOs is capacity building through training, drafting of good policies to guide operations as well as effective lobby and advocacy. He made reference to the recent taxi waiver among others as fruits of effective advocacy by UCA and UCSCU.

Brig Gen Simon Ochan the Chairman Supervisory Committee who spoke on behalf of trainees noted that SACCOS have changed lives of citizens and continue to play a pivotal role in financial inclusion.

Brig Ochan recalled the journey of wazalendo from 2004 when the late Gen Aronda Nyakairima CDF by then sought ways to keep the forces engaged in production as the war came to an end in some parts of the country and neighbourhood. The UPDF thought about how to settle the soldiers and address their welfare following the guidance of the Defence Forces Council.
According to Brig Ocan WSACCO has gone through different challenges especially recruiting members to WSACCO, teaching them how to save and grow their savings for investments.
“Through mobilizations, trainings and new motivations, the numbers have grown, the lives have changed, and the SACCO has grown as the biggest SACCO hence achieving it’s vision and mission” said Brig Ocan.

Col Joseph Freddy Onata the Chief Executive Officer appreciated the trainers for the cooperation and for sharing experiences with the the BOD and SUPCO. He said the training and orientation was timely as the new leaders start their term of office. He noted as required by law governing Cooperatives, the leaders must get training so that they know their roles and be able to execute their duties with ease.
” It’s not that the new team has no knowledge about the SACCOs but this training arises from the fact that the world is changing and new skills must be acquired to enable the teams operate to the expectations of the members” stressed Col Onata.

He also thanked UCA and particular Mr Ivan Asiimwe and members of his training team for the training well delivered, knowledge and experience shared which he said shall enable the governance organs of WSACCO plan strategically and execute their duties with distinction.

On behalf of Management, the CEO pledged cooperation, professionalism and team work in order to drive the vision and Mission of WSACCO.

The training focused on the following among other topics;
Introduction to Cooperatives, SACCO governance, Risk management, Strategic Planning, Implementation and Oversight,Stakeholder engagement, ethics and communication and the Legal and regulatory framework for Cooperatives.
In attendance were he Business interim committee.