Wazalendo SACCO assets have reached Shs1.4 trillion and the Cooperative has since moved into construction, property and new ways to help members sell their products.
The SACCO’s vice chairman, Brig Gen Peter Omola Gaetano, announced the figures at the National Cooperatives Conference at Makerere University Business School. He said Wazalendo holds Shs560 billion in capital and has a loan portfolio of Shs1.3 trillion. It has issued a total of about Shs4.4 trillion in loans to members over the years.
Brig Gen Omola said the SACCO has expanded into road construction and real estate through Wazalendo Investments Limited. Its WAZA Market platform helps members promote their products and reach more buyers.
He credited the growth to members’ savings, professional management and good governance. The SACCO now plans to expand its digital services, improve risk management and offer more products and investment opportunities to members.
Third Deputy Prime Minister Lukia Isanga Nakadama urged cooperatives to train their leaders in accountability and sound management. She said young people could use cooperatives to pool resources, secure financing and create jobs.
The Uganda Cooperative Alliance, Makerere University Business School and the Cooperative University organised the conference to discuss the sector’s growth and future.
