Gambia Armed Forces delegation benchmarks Wazalendo SACCO's success
The benchmarking discussions focused on member mobilisation, savings, loan management, governance, investment, digital financial services and strategic initiatives aimed at improving member welfare.
Wazalendo SACCO Chief Executive Officer Brig. Gen. Buha and members of his top management pose for a group photo with a delegation from the Gambia Armed Forces led by Brig. Gen. Sait Njie, Deputy Chief of Defence Staff. (Courtesy)
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A delegation from the Gambia Armed Forces (GAF) is in Uganda for a number of engagements, including benchmarking operations of the Wazalendo Savings and Credit Cooperative Society aka (Wazalendo SACCO) at its headquarters in Kiwatule, Kampala city suburbs.
The Banjul team is led by Deputy Chief of Defence Staff and Board Chairman of the Gambia Armed Forces Cooperative Credit Union, Brigadier General Sait Njie. Others on the trip to Kampala are: Major Falton Bety Jammeh, Manager of the Gambia Armed Forces Credit Union, and Mr Yankuba Touray, Director of Programmes at the National Association of Cooperative Credit Unions of The Gambia.
Earlier today (August 12), the group visited Wazalendo SACCO headquarters in Kiwatule, Kampala city suburbs, where they were hosted by Chief Executive Officer, Brigadier General Buha.
The engagement was also attended by heads of department from Wazalendo SACCO.
In a brief to his guests, Brigadier Buha highlighted the institution’s growth from its humble beginnings, recalling that the first loan product, known as the School Fees Loan, was introduced in 2008. Over the years, the savings scheme has since expanded its portfolio to address the diverse financial needs of its members.
“From humble beginnings in 2005, when Wazalendo was founded for Uganda Peoples' Defence Forces (UPDF) personnel and the first loan product, the School Fees Loan, was given out in 2008, Wazalendo SACCO has grown into a significant pillar of financial empowerment for our servicemen and women, driven by a deep understanding of their unique needs,” Buha remarked.
A release by the Ministry of Defence and Veterans Affairs states that Buha also reported that Wazalendo SACCO has since established Wazalendo Investments Limited as its business arm, which is involved in real estate, enabling SACCO members to acquire land at subsidised prices, as well as road construction.
The visitors were taken through detailed presentations by Wazalendo SACCO’s directors and heads of departments.
In one of the presentations, the Director of Wazalendo SACCO Administration and Finance, Colonel JB Kato, highlighted the robust organisational structures, the unique blend of civilian and military staffing, sound financial management practices, and transparent governance structures that underpin the SACCO's success.
Relatedly, Mr William Atalyeba, the Director of Operations, presented on the SACCO’s branch network, including cash and non-cash branches, the liaison network, savings schemes, loan products tailored to different member needs, investment opportunities, and digital financial services such as Waza mobile, which has enhanced accessibility and service delivery.
The benchmarking discussions focused on member mobilisation, savings, loan management, governance, investment, digital financial services and strategic initiatives aimed at improving member welfare.
MoDVA reports that the visit provided an opportunity for the two military cooperative institutions to share experiences, exchange best practices and explore practical approaches to strengthening financial inclusion and improving the welfare of serving personnel and their families.