Wazalendo Savings and Credit Cooperative Society (WSACCO), associated with the Uganda Peoples’ Defence Forces (UPDF), has unveiled its new commercial building in Fort Portal City. The three-storey structure, situated on Balya Street, was inaugurated by Maj Gen Richard Otto, Commander of the Mountain Division and Operation Shujaa.
Maj Gen Otto praised WSACCO’s leadership for securing valuable land and establishing a significant commercial presence in Fort Portal. He acknowledged the SACCO’s achievements since 2005, including the acquisition of a permanent building in the city. He described the new development as a notable success and called for more projects of this nature.
Maj Gen Otto also highlighted the efficiency of WSACCO’s services, noting that loan processing is completed within two hours. He stressed the importance of financial discipline among troops and urged WSACCO management to ensure loans are used effectively.
Col Joseph Freddy Onata, CEO of WSACCO, expressed gratitude to the Board of Directors for their support in realizing the project. He reviewed WSACCO’s history, including the first loan disbursement in 2007, the relocation to Kiwatule headquarters in 2015, and the establishment of the first cash branch outside the barracks in 2021.
Lt Col Allan Kitanda, Vice Chairman of the Board, extended thanks to UPDF leadership for their backing of WSACCO. He pointed out significant achievements such as providing members with affordable loans and becoming the largest SACCO in the country. He encouraged other professionals to form similar SACCOs to strengthen the economy.
Mr. William Atalyeba, Director of Operations, commended the engineering team for completing the building on schedule and to the specified quality. He noted that the new building will contribute additional revenue for WSACCO.
Fort Portal City Engineer Mr. Jimmy Balyawa praised WSACCO for constructing an impressive building that has enhanced the appearance of Balya Street. He described the building as a valuable investment. The building features a rentable space of 1,161.45 square meters and serves as WSACCO’s Fort Portal Cash Operating Branch.
