President Museveni commends Wazalendo SACCO

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President Yoweri Museveni has urged members of the Wazalendo Savings and Credit Co-operative Society Ltd (WSACCO) to desist from the extravagant spending habits but instead embrace the culture of saving.

Speaking yesterday during the closing ceremony of the Society’s 10th Annual General Meeting at the Lugazi Town-based Uganda Military Engineering College (UMEC), the President said that the saving culture is a crucial element in the economic development of the members.

The President advised the members that since they are still serving in the Army and might not have time to supervise long-term activities, they should instead invest in easily manageable activities.

He promised the members of WSACCO that he is going to talk to the Ministry of Finance and Economic Planning not to tax their SACCO as well as other savings and credit societies of wananchi in the entire country.

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