FAMReports News Desk | June 2025
Wazalendo Savings and Credit Cooperative Society (WSACCO) has launched a targeted financial literacy and empowerment campaign for Uganda People’s 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).
This groundbreaking initiative is part of WSACCO’s broader mission to strengthen the financial well-being of its members, especially those serving in high-risk environments. The campaign, held under the theme “Mindset Change for a Better Future”, focuses on instilling financial discipline, encouraging smart investment, and promoting the benefits of saving through WSACCO’s diverse financial solutions.
Smart Money Skills for Soldiers on Mission
The outreach, spearheaded by WSACCO Board Vice Chairman Colonel Allan Kitanda, delivered crucial financial education tailored to soldiers serving in mission areas. In his address, Col Kitanda emphasized the need for a shift in mindset regarding personal finance among uniformed personnel.
“Our goal is to equip you with the skills to manage your money wisely, invest strategically, and prepare for life after service,” he said. “Your current sacrifices should translate into long-term financial security.”
He stressed the importance of responsible borrowing, goal-oriented saving, and well-planned investment decisions. In doing so, he encouraged the troops to view financial literacy as a tool for personal empowerment and national development.
WSACCO’s National Growth and Digital Expansion
Col Kitanda provided an overview of WSACCO’s impressive trajectory since its inception in 2005. With over 108,000 active members, total assets now exceeding UGX 1.2 trillion, and more than UGX 2.3 trillion disbursed in loans, WSACCO has emerged as a national leader in cooperative financial services.
As part of its continued innovation, Col Kitanda unveiled the upcoming Waza Mobile platform—a smartphone-based digital tool that will enable members to access loans remotely. “Very soon, members will be able to access loans directly via their smartphones using Waza Mobile,” he announced. “This is part of our commitment to make financial services accessible, even while you are in active deployment.”
This digital transformation is designed to improve financial inclusion, particularly for members stationed in remote areas or foreign missions where access to physical WSACCO branches may be limited.
From Humble Roots to Uganda’s Leading SACCO
Also present at the event was Colonel John Mark Ssemanda, AUSSOM Contingent Administration Officer and one of WSACCO’s founding members. He reflected on the cooperative’s evolution from modest beginnings to a robust financial institution. “WSACCO has transformed lives,” Col Ssemanda said. “From a humble beginning, it has grown into Uganda’s leading SACCO, empowering soldiers and their families through tailored financial products.”
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He lauded the institution’s member-centric approach, which has enabled many troops and their dependents to access credit, acquire land, start businesses, and invest in agriculture and real estate.
Commanders Endorse Financial Literacy for Combat Readiness
The campaign also received strong backing from mission command. Lieutenant Colonel Peter Ruyogoza Barigye, Commander of UNGU X, welcomed the initiative, urging his troops to apply the knowledge gained from the campaign.
“Financial discipline is key to our overall well-being,” Lt Col Ruyogoza said. “Let’s work together to build a financially savvy team through active participation in WSACCO.”
He noted that financial stress remains one of the most significant challenges affecting soldiers’ morale and family stability. Empowering troops with financial knowledge, he said, is part of ensuring combat readiness and long-term family welfare.
Tailored Financial Products for Every Member
WSACCO offers a wide range of member-driven financial products designed to meet the varying needs of its diverse membership. These include:
Business loans for micro and small enterprise development
Agricultural loans to support farming activities
Asset financing for acquiring income-generating equipment
Nyumba (home) loans for home construction and improvement
Quick loans for urgent financial needs
Malipo loans, a special product that allows members to acquire land from Wazalendo Estates and pay in installments over 24 months
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These products have been especially impactful for soldiers and their families, providing them with the capital needed to improve livelihoods and build wealth over time.
Extending Support Beyond Borders
WSACCO’s decision to bring financial literacy to Somalia is a testament to its unwavering commitment to supporting its members regardless of location. By reaching UPDF personnel on international missions, the SACCO reinforces its mission of “Members First” and strengthens the economic resilience of troops under deployment.
This outreach is not just about finances—it is about restoring dignity, building futures, and ensuring that those who serve the nation in the most challenging environments are not left behind in the national development agenda.
As WSACCO continues to grow in size and impact, initiatives like these mark a significant step toward transforming the financial culture within the armed forces and beyond.
