The African Confederation for Cooperative Savings and Credit Associations (ACCOSCA) has recognized Wazalendo Savings and Credit Cooperative Society (WSACCO) as a model SACCO in Uganda and one of the top ten fastest-growing SACCOs in Africa.
George Ombado, the executive director of ACCOSCA, who led a delegation of the ACCOSA board of directors, announced the recognition on July 10, 2024, during a strategic assessment visit at WASSCO headquarters in Kiwatule, Uganda.
According to Ombado, the delegation is in the country to assess WSACCO’s strategic plan and show solidarity with the Uganda Cooperative Savings and Credit Union (UCSCU) in promoting the development of the SACCO industry.
“We hope that through partnerships with successful SACCOs like Wazalendo, we will have more progressive SACCOs in Africa that will promote economic empowerment of the population through the SACCO Business Model,” Ombado said.
Ombado observed that the growth of Wazalendo SACCO is due to good leadership, professionalism, the quality of service rendered to its members, and the extent of its community engagements.
Col. Joseph Freddy Onata, the Executive Officer of Wazalendo SACCO’s, who spoke on behalf of the Chairman of WSACCO, appreciated ACCOSCA and UCSCU for their continued support, including capacity building and advocacy.
“We are privileged to host the ACCOSCA leadership for a strategic assessment visit. We shared our status and activities with them, and they have shown appreciation. ACCOSCA has pledged more opportunities for Wazalendo SACCO to continue learning and improving the services offered to the members,” Col. Onata said.
ACCOSCA is the continental body that brings together national cooperative associations in Africa, with its headquarters in Nairobi, Kenya.
On the other hand, Wazzalendo is an institutional SACCO composed of Uganda People’s Defence Force (UPDF) personnel and their families, UPDF Reserve Forces, and staff of Uganda’s Ministry of Defence. WSACCO is affiliated with the Uganda Co-operative Savings and Credit Union Limited and the Uganda Co-operative Alliance.
