The Ministry of Defence and Veterans Affairs (MoDVA)-owned Wazalendo SACCO, with a total of 116,000 members and 19 branches nationwide, has announced plans to open its services to civilians after reaching the maximum limit for internal (military) client recruitment
This development was revealed by the Chairperson of Wazalendo SACCO’s Board of Directors, Lt. Gen. Sam Kavuma, during a presentation at the one-day National Cooperators’ Conference 2025, held at the UMA Multipurpose Hall Gardens in Lugogo.
Under the theme “Driving Inclusive and Sustainable Livelihoods Through Cooperatives for a Better World,” the conference also witnessed the official launch of the National Cooperatives Savings and Credit Society Ltd—a precursor to the upcoming National Cooperative Bank.
Lt. Gen. Kavuma’s presentation, titled “Success Story: Cooperative Financing,” highlighted the key principles of a high-performing SACCO and outlined strategies that others could adopt to replicate Wazalendo’s success.
He announced that Wazalendo would soon begin recruiting civilian members, giving them access to the SACCO’s proven financial services and wealth-building opportunities. He emphasized that Wazalendo’s mission is to empower members through strategic, profit-oriented investments aimed at eradicating poverty.
“We have observed, with concern, that a significant portion of the civilian population wastes money on extravagant and unproductive ventures such as buying expensive iPhone 17s, luxury SUVs, and multi-roomed mansions that do not add real value to their wealth agenda,” he cautioned.
“We want to engage these individuals with idle money, bring them into Wazalendo, and train them to become millionaires—without the hustle,” he added.
Lt. Gen. Kavuma noted that Wazalendo SACCO has so far disbursed over UGX 3.5 trillion to its members. This has been complemented by rigorous training, sensitization, and financial guidance programs, all contributing to improved member incomes within a favorable saving and investment environment.
He further stated that Wazalendo currently holds an asset base of UGX 1.2 trillion, making it the largest SACCO in the country. With the anticipated entry into the civilian market, the SACCO is expected to grow even stronger and expand its range of financial products.
Commenting on the newly launched National Cooperatives Savings and Credit Society Ltd, Lt. Gen. Kavuma pledged full support and collaboration, saying the initiative will reduce operational costs by consolidating professional expertise and financial resources from all SACCOs into one effective cooperative bank.
He concluded by outlining five key governance principles necessary for a SACCO to thrive: it must be formed, financed, managed, and benefited by its members, and it must remain locally grounded.
