Pader District, Uganda – UPDF soldiers have been urged to prioritize saving and make informed financial decisions to ensure long-term stability and personal development.
This advice was delivered during a financial sensitization meeting held at the 5th Infantry Division headquarters in Pader, conducted by a delegation from Wazalendo SACCO (WSACCO) headquarters in Kampala.
Lt Col Peter Tuharwe, WSACCO’s Counter Intelligence Officer, emphasized the importance of proper business planning and management before investing. He noted that due to the mobile nature of military service, soldiers are often away from their businesses, making it crucial to entrust them to trustworthy and competent individuals.
“There have been unfortunate cases where mismanagement of soldiers’ businesses has led to family misunderstandings—and in some cases, even tragic outcomes,” Lt Col Tuharwe said. He encouraged soldiers and their families to take advantage of the wide range of approved financial services available through WSACCO.
Since its establishment in 2005, Wazalendo SACCO has experienced remarkable growth. As of June 2025, the SACCO boasts over 117,779 members, has disbursed loans worth more than UGX 658 billion, and holds assets exceeding UGX 1.2 trillion.
To help members reduce costs, Lt Col Tuharwe also encouraged soldiers to open Waza Mobile accounts, which provide easy and affordable access to savings and other financial services.
Maj Musime Livingstone, WSACCO’s Intelligence Officer, advised soldiers to invest only in businesses they fully understand. “Investing in a business you don’t comprehend often leads to losses,” he cautioned. He recommended beginning with small, manageable ventures and scaling up based on experience and outcomes.
Col David Opeero, Commander of the 5th Infantry Division, reinforced the importance of financial discipline and saving. He explained that effective money management reduces stress, enhances operational readiness, and protects soldiers from financial exploitation and predatory lending.
“Proper personal financial management enables soldiers to concentrate on their core duties without unnecessary worry. It supports their long-term well-being and overall mission readiness,” Col Opeero said. He further encouraged service members to plan for retirement, save for education, and build financial buffers for life transitions such as relocations or permanent change-of-station moves.
As part of their community outreach, the WSACCO team—together with Col Opeero—donated books to Agago Army Primary School.
The meeting was attended by both senior and junior officers of the Division. All participants were urged to embrace a culture of saving, responsible investing, and mutual support through WSACCO’s financial empowerment initiatives.
