Wazalendo SACCO Commended For Its Contribution Towards Cooperatives Movement
The Chairperson Board of Directors Forum for Women in Democracy (FOWODE) Pamoja SACCO and former West Budama North Member of Parliament, Hon. Tezira Jamwa has commended Wazalendo Savings and Credit Cooperative Society (WSACCO) for being a pro-people SACCO.
She made the remarks today while on a benchmarking visit at the WSACCO Headquarters in Kiwatule, Kampala.
Hon. Tezira thanked WSACCO management for the mentorship opportunity and the positive engagement. She pledged to put into practice the knowledge shared. She also asked the WSACCO leadership to continue guiding FOWODE Pamoja SACCO in its quest to grow with its members.
FOWODE Pamoja SACCO is a financial cooperative formed by women in leadership in 2020 with the main objective of economic empowerment of women from both the private and government sector.
Lt Col Yusuf Magero Buha who represented the Chief Executive Officer WSACCO Col Joseph Freddy Onata appreciated FOWODE leadership for choosing WSACCO for their benchmarking visit. He informed the visiting delegation that SACCOs thrive on the Cooperative principle of Cooperation among Cooperators, a basis on which WSACCO leaders share their experiences with other SACCO leaders and managers.
He informed FOWODE leaders that WSACCO was formed in 2005 to enable the UPDF leadership to find an internal and permanent solution to welfare challenges. The other intention is to safeguard the personnel from being exploited through expensive credit facilities offered by other players in the financial services sector.
Lt Col Magero underscored the importance of; continuous member education, good governance, professional management and transparency in the growth and sustainability of SACCOs.
He cautioned the FOWODE Pamoja SACCO leadership against seeking handouts as basis of building the SACCO’s capital and encouraged them to mobilize capital and savings from within their members. “WSACCO is strong because it has never got any external funding or grant. Apart from the support in form of paying salaries for UPDF attached personnel and provision of office space for the branches that are still housed in the barracks, WSACCO raises all its funds from the members and internal operations,” Lt Col Magero stressed.
The Director of Operations Mr. William Atalyeba informed Pamoja SACCO leaders that for any SACCO to satisfy its members, it must put into consideration the convenience factor. In addition, he said that products introduced must be based on members’ needs derived from surveys and feedback.
Mr. Atalyeba also emphasized the importance of the uniqueness of service proposition to members in terms of service quality and care among the success factors.
The engagement included the leadership of FOWODE Pamoja SACCO and the management and staff of WSACCO.
