Wazalendo Savings and Credit Cooperative Society (WSACCO) has concluded a one-week training of community-based SACCOs in greater Mbarara as part of the UPDF army week activities ahead of Tarehe Sita celebrations.
According to the Chief Executive officer of Wazalendo SACCO Col Joseph Freddy Onata, the training was in furtherance of principle No 6 of the cooperatives ” Co- operation among Cooperators” and intended to appreciate the population for the strategic partnership with the UPDF. “UPDF recruits its forces who eventually become WSACCO members from the community. Therefore, we want to ensure that there is that continuous engagement and connection between us and the society,” said Col Onata.
The CEO added that the training targeted SACCO leaders including; the Board of Directors, Supervisory Committees, and Top management who are expected to transfer the knowledge acquired to the staff under their charge for the benefit of their respective SACCOs.
A total of 18 selected SACCOs identified by the District Commercial Officers (DCOs) from the seven districts that form the Mbarara sub-region underwent the training. These included; Kiruhura, Kazo, Ibanda, Isingiro, Rwampara, Mbarara City, and Mbarara district.
During the training, the CEO pledged a donation of two computers on behalf of Wazalendo to young SACCOs of (Kiruhura Community Women’s SACCO and Isingiro Kaberebere Residents SACCO) to assist them in records keeping and management of other SACCO data and information.
WSACCO made a donation of items worth Shs12.5M which included 10 delivery beds and 50 waste bins of 50 litres which were distributed to 24 Health Centres in the region to maintain hygiene.
The team highlighted the importance of monitoring and evaluating of usage of credit facilities extended to members as a basis for determining whether such credit facilities are creating the desired impact among the members.
The trainers emphasized the need to safeguard members from exploitation by money lenders and other financial intermediaries and ensure their productivity. “Benchmark from those who have been successful in the same field and use lessons learned to shape your operations,” Lt Col Akasias Mpabaisi one of the WSACCO trainers advised.
Lt Col Mpabaisi advised the leaders of SACCOs to ensure that in developing SACCO products, issues of environmental protection and health are factored in.
The topics covered during the training included; Principles of Cooperatives, Uganda’s Cooperatives Sector outlook, Uganda’s Banking sector outlook, understanding the SACCO business model and its key features, SACCOS as vehicles of transformation, the importance of SACCO patronization by members, Regulation and Future of SACCOs and challenges facing SACCOs.
The CEO was accompanied by the Head of Information and Security, Maj Livingston Musiime, and Capt Peterson Mateso among others.