KATABI-ENTEBBE – The spouses of soldiers have received a call to prepare for life after their partners’ retirement from active service, coupled with a stern warning against financial mismanagement.
Colonel Joseph Freddy Onata, Chief Executive Officer of Wazalendo SACCO, posed a crucial question during the closing ceremony of a two-day training program for Entebbe Spouses of Soldiers’ SACCO (ESOSS) at Air Force Secondary School in Katabi-Entebbe. He asked, “Some of your partners in uniform have only 1-6 years left in service. Are you prepared for life after retirement?”
The training focused primarily on financial literacy as a vital tool for economic empowerment. Colonel Onata underscored the significance of savings, shares, and responsible loan repayment, drawing from Wazalendo SACCO’s success in fostering financial stability. He cautioned against pitfalls such as greed, poor leadership, and over-reliance on donations, which can stymie the growth of SACCOs (Savings and Credit Cooperative Organizations).
Spouses were reminded about the availability of the Presidential Support Fund (PSF), which offers opportunities to access capital for starting income-generating activities aimed at enhancing household incomes.
Before this, facilitators from Wazalendo provided training to the management of Entebbe Spouses of Soldiers’ SACCO on fundamental principles of corporate governance, organizational structure, and SACCO management.
Entebbe Spouses of Soldiers’ SACCO serves as a membership hub for spouses of soldiers from various units including the UPDF Air Force, Special Forces Command, and Marine Brigade. It plays a critical role in fostering financial independence and stability among its members.
