Delegates of Wazalendo Savings and Credit Cooperative Society (SACCO) have elected a new Board of Directors, with Lt Gen Sam Kavuma retaining his position as Chairperson.
The elections were held during the SACCO’s 20th Annual General Meeting (AGM) at Gaddafi Barracks, a landmark gathering that underscored the institution’s strong governance and continued growth.
Lt Gen Kavuma will be deputized by Peter Omola as Vice Chairperson, while James Okiring was elected Treasurer. Mariam Kagoro joins the Board as Gender Representative.
To ensure regional balance, delegates also elected representatives from across the country. Dathan Bunanukye will represent the Western Region, Isaac Bisaalu the Central Region, and Nathan Mwebasa the Northern Region. Osuku Peter was elected to represent West Nile, while Bashaija Wilber also represents the Western Region.
The AGM further constituted a Supervisory Board to strengthen oversight and accountability. Justus Rukundo was elected Chairperson, with Newton Namaziima as Vice Chairperson and Asha Praise Mbwali as Secretary.
The re-election of Lt Gen Kavuma reflects strong confidence from members in his leadership, particularly during a period in which the SACCO has registered steady growth in membership, loan portfolio, and asset base.
Speaking at the AGM, the Minister of Defence and Veteran Affairs, Jacob Marksons Oboth, praised Wazalendo SACCO as a model of collective effort, discipline, and patriotism.
He noted that the institution’s growth reflects the resilience and trust of its members.
“This success is a testament to optimism, resilience, and trust in the cooperative spirit,” he said.
Hon. Oboth emphasized that the SACCO, originally established to improve the financial well-being of defence forces and their families, has evolved into one of the most respected savings and credit institutions in the country. He added that financial stability remains central to institutional strength and operational effectiveness.
“Financial strength is a critical pillar of operational effectiveness. A financially secure force is more focused, more effective, and better able to serve the nation,” he said.
He commended the Board and management for sound stewardship, citing growth in membership, expansion of loan products, and improved financial performance as indicators of strong leadership. However, he urged the SACCO leadership to remain adaptive by strengthening digital financial services, promoting financial literacy, maintaining robust risk management, and exploring safe investment opportunities.
“As we celebrate these achievements, we must remain mindful of the challenges ahead. The financial sector is evolving rapidly, driven by technology, changing customer expectations, and increasing competition,” he added.
In a message delivered on his behalf, the Chief of Defence Forces and Senior Presidential Advisor on Special Operations, Muhoozi Kainerugaba, congratulated the SACCO on reaching its 20-year milestone, describing it as a significant achievement.
“This is a great achievement, and I congratulate the Wazalendo SACCO family—the members, management, and the Board—for staying the course,” the message read.
He noted that the SACCO’s steady growth in surplus, lending, and assets has elevated it into one of the most prominent cooperative institutions on the continent, positioning it to contribute meaningfully to national economic transformation. He also called for prudence and self-reliance amid global economic uncertainties.
“We must build our resources and capacity to survive on our own,” the message emphasized.
Commander Land Forces, Kayanja Muhanga, also congratulated the SACCO on its 20-year milestone, describing its progress as a reflection of discipline, commitment, and sound institutional stewardship.
Meanwhile, Board Chairperson Lt Gen Kavuma underscored the importance of the AGM as the SACCO’s highest accountability platform, bringing together members to assess the performance of elected leaders and management.
“It is the AGM that elects the Board and the Supervisory Committee, and the Board appoints management to run the SACCO. Whatever these three groups do, they do it on behalf of the AGM,” he said.
The 20th AGM not only focused on leadership elections but also provided an opportunity to review the SACCO’s performance and strategic direction, as Wazalendo SACCO consolidates its position among the leading financial cooperatives in the region.