Wazalendo SACCO Hits UGX1.4 Trillion in Assets, Govt Applauds Discipline and Unity

Wazalendo Savings and Credit Cooperative Organization (SACCO) has reached a major financial milestone, with its total asset base rising to UGX 1.4 trillion, underscoring its growing influence within Uganda’s cooperative and financial sector.

The development was welcomed by the Minister of Defence and Veteran Affairs, Jacob Marksons Oboth, who hailed the SACCO as a powerful example of what collective effort, discipline, and patriotism can achieve. He noted that the institution’s steady growth reflects not only sound financial management but also the resilience and trust of its members.

Originally established to serve members of the Uganda People’s Defence Forces (UPDF) and their families, Wazalendo SACCO has over the years expanded its footprint, becoming one of the most successful cooperative financial institutions in the country. Its continued growth has been driven by a strong savings culture, accessible credit facilities, and disciplined financial practices among its membership.

The UGX 1.4 trillion milestone indicates increasing confidence among members and highlights the SACCO’s role in promoting financial inclusion, wealth creation, and economic stability. Analysts say such cooperative models are critical in mobilizing domestic savings and supporting grassroots development.

Government officials have increasingly pointed to Wazalendo SACCO as a benchmark for other SACCOs across the country, particularly in demonstrating how structured leadership, accountability, and member trust can translate into sustainable financial growth.