A strong army marches on a full wallet,” goes the old maxim—that financial discipline fuels operational power.
Wazalendo SACCO proved it at Gaddafi Barracks in Jinja on 1 April 2026, marking 20 years by posting assets of UGX 1.4 trillion, up from UGX 1.1 trillion last year.
Held under the theme “Sustainable Growth and Quality Member Services,” the 20th AGM showed steady expansion, a growing loan book and a push into digital access for members—active UPDF personnel, veterans, families and civilian staff.
Hon. Jacob Marksons Oboth, the Minister of Defense and Veteran Affairs, hailed the SACCO as proof of collective effort, discipline and patriotism: “This success is a testament to the optimism, resilience and trust in the cooperative spirit.”
He added, “Financial strength is a critical pillar of operational greatness. A financially secure force is more focused, more effective and better able to serve the nation.”
In an address, Hon Oboth urged stronger digital services, financial literacy, risk management and safe investments, warning, “The financial sector is evolving rapidly, driven by technology, changing customer expectations and increasing competition.”
Delivering the CDF’s message, Lt Gen Kayanja Muhanga quoted Gen Muhoozi Kainerugaba: “This is a great achievement and I congratulate the Wazalendo SACCO family, the members, management and the Board for staying the course.” The note called for prudence: “We must build our resources and capacity to survive on our own.”
The Board Chairman Lt Gen Sam Kavuma called the AGM “the highest accountability platform,” noting surplus growth from UGX 24 billion to UGX 106 billion and cumulative lending from UGX 3.8 billion to UGX 3.8 trillion over ten years.
The Wazalendo CEO Col Yusuf Magero Buha reported loans in agriculture, housing and development at 12–13% interest, 19 branches (14 cash, a 15th opening soon), liaison offices abroad and upcoming digital lending via phone.
The meeting also elected a new Board—Lt Gen Sam Kavuma, Brig Gen Peter Omola, Col James Okiring, Maj Mariam Kagoro and regional reps—and a Supervisory Board led by Brig Gen Justus Rukundo. Attendees included Lt Gen Charles Okidi, Lt Gen Jack Bakasumba, service chiefs, division commanders, and cooperative‑sector leaders.
