M7 Appoints Col. Onatta New UPDF SACCO Boss

M7 Appoints Col. Onatta New UPDF SACCO Boss

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By Ronald Nahabwe

President Gen. Yoweri Kaguta Museveni has appointed Col. Joseph Fred Onatta as the new chief executive officer of the Uganda Peoples Defence Forces (UPDF) savings scheme Wazalendo Savings And credit Cooperation (SACCO).

The handover and takeover ceremony that was held at the headquarters of Wazalendo Sacco in Kiwatule Kampala was attended by the Board Members, Supervisory Committee and staff of the co-operative.

Speaking at the handover and takeover ceremony, the Deputy Commander Land Forces and Chairman Board of Wazalendo Maj. Gen Sam Kavuma thanked the outgoing CEO Brig. Simon Ocan for the tireless four years of service.
Gen. Kavuma noted that it was Brig. Ocan that Wazalendo saw high growth and progress, which is something to applaud him for.

Brig. Ochan in his remarks put emphasis on high skills, experience and maturity by the governance and management team if Wazalendo is to keep the high standards and success it is been known for.

The incoming CEO Col. Onata while receiving the instruments of power, said that he was grateful for the opportunity to serve in another capacity under the UPDF and pledged not to disappoint the UPDF leadership.

However, Brig. Ocan has also been nominated by the UPDF leadership to attend further studies at the National Defence College ( NDC).

Col. Onata, previously the Director of Finance at Uganda Air Force, brings his vast experience in financial management to the UPDF Sacco.

Wazalendo SACCO is a Ministry of Defence and Veteran Affairs (MODVA) and Uganda People’s Defence Forces (UPDF) Co-operative Society that enables its Members to pool funds (Savings) so that they can access Loans (Credit) to engage in productive activities for improving their welfare. It was registered in September 2005 and has been the leading and exemplary SACCO in the country.

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