The Army under the UPDF 4th Infantry Division have been urged to carefully plan and conduct market surveys before taking loans from the Wazalendo Savings and Credit Cooperative Society (WSACCO).
The advice was yesterday delivered during a regional sensitisation drive led by a team from the Wazalendo SACCO’s headquarters in Kampala undee a mobilisation campaign under the theme, “Mindset Change for a Better Future,” which is aimed at encouraging soldiers to adopt responsible borrowing habits and to take full advantage of new SACCO products and services.
The Head of Information and Security at Wazalendo SACCO, Major Livingstone Musiime, told the solidiers at the 4th Infantry Division headquarters in Gulu that there is a growing need to educate newly deployed militants on how the SACCO operates.
The troops were advised to conduct proper planning and market research before applying for loans, to avoid taking on debt for ventures that are not sustainable.
“Understand the demand for your product or service and position yourself strategically,” Maj Musiime advised.
Major Musiime urged the soldiers to move away from consumption-driven borrowing and instead invest in income-generating assets.
“Avoid being misled by slogans like ‘Kula zote’. That kind of mindset will only leave you financially exposed,” Maj Musiime warned.
The Head of the Wazalendo Single Member Company (SMC) Ltd, Captain Jonathan Kizito stressed the importance of investing in essential assets as a foundation for building lasting wealth.
He highlighted the “Malipo 25” product, which allows members to acquire and use land while paying in installments over two years with full land ownership documents issued after completion of payments.
Capt Kizito encouraged troops to consider purchasing plots from Wazalendo estate sites in Namayiba in Mukono District, Matugga-Mabanga, and Bujjuko along Mityana Road.
“Think about where you are financially, where you want to go, and how to get there. Let your borrowing be guided by purpose, not impulse by emphasising the need for financial discipline and cooperation in managing loan funds,” He said.
The meeting which is part of the country wide tour was attended by the Wazalendo SACCO members serving under the UPDF 4th Infantry Division.
