Wazo Hill Saccos Ltd
about us
Wazo Hill Saccos Ltd
Our History
A group of common bond factory workers (employees and retirees) of Tanzania Portland cement company limited whirled away their mind, they mulled over their life challenge mostly revolving around personal financial needs. They were concerned that they could no longer meet their rising cost of living against “flat pay slip”. So they had an idea, they could form a savings scheme to collect individual savings and advance loans from the pool and WAZO HILL SACCOS was born.
The society was registered on 22 June 1993 with REG No DSR 460 under the name WAZO HILL SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED, with 510 founders members with the aim of mobilization of savings for the purpose of lending to its member. This further create an opportunity for the SACCOS to broader the common bond (employees and retirees) of Tanzania Portland cement company ltd.
The objective of the society was to create the culture among the members to promote the savings, then after to lend short and long term loans for personal, development, school fees and medical expenses.
mission
The intent of Wazo Hill Saving and Credit co-operative society ltd is to provide excellent savings services and credit to its members on concessional term to improve their living condition and overcoming poverty.
vision
To be solid and sustainable SACCOS so as to satisfy economic and social requirement to its members.
About Us
Our Core Values
To facilitate and support the achievement of the vision and mission to satisfy its members by providing an unmatched level of efficiency and effectiveness in provision of it services under the corporate Act No 6 of 2013.
WAZO HILL SACCOS LTD aim to improve the quality of life to its members.
In order to achieve our mission we requires:-
- Receiving entries fees, savings and shares from the members.
- Lending at low interest rates.
- Setting interest on savings, shares and loans for operating costs.
- To inspire members to increase savings and shares.
- Provide corporate education and business education.
- Purchase of shares and bond from financial institution and government entry.
- Improve the level of life and cooperation between the members.
The following value shall guide operations, behavior and building of the organization culture. In the conduct of its affairs, board members, employee shall embrace the following value.
- Team work – We make deliberate effort to collaboratively work together to achieve our goals. We cooperate and use our individual skills and provide constructive feedback while recognizing our differences as individuals.
- Integrity – We strive to be transparent and accountable in all areas of our operation s by promoting accountability by encouraging openness and fairness to one another.
- Customer Obsession – We obsessed with creating an exceptional customer experience, we will constantly listen to customers, and then continuously enhance and personalize the customer experience.
- High Performance Culture – Achieving sustainable growth requires commitment from the whole SACCOS to build a culture that can adapt to ongoing changes in a competitive environment.
Wazo Hill Saccos Ltd
Our Management
The highest decision making organ of the Saccos is the Annual General Meeting (AGM) which elects nine (9) officials from amongst members to sit in the board and an oversight Supervisory Committees each of three {3} members in it. The board is the governing body of the SACCOS and include Chairman, Vice Chairman, Members of the board hold office for period of three (3) years. The Board Members operates through specialized sub-committee responsible for various society activities as under:-
Supervisory committee
The supervisory committee consist of three members who must not be employee of the SACCOS or serving on the management committee. The supervisory committee is responsible for SACCOS compliance, internal control, and oversight. Its also responsible for the truth and accuracy of the society financial condition, and for making sure that the society administrative practices and procedure are adequate to safeguard the members and Saccos rights and interest.
Loan Committee
The credit committee hold such meetings as the business of the Society may reasonably require. The loan committee duties are to:-
- Ensure establishment and review of appropriate credit policy consistent with the relevant provisions of the Regulations.
- Ensure that the problem in loan account are adequately identified and classified as prescribed in the Regulations.
Audit Committee
The audit committee has a duty to:-
- Ensure establishment and review of the internal control system.
- Review performance and finding of the internal auditor and recommend remedial actions regularly.
Our Management Team
Our management team is composed of experienced and dedicated professionals committed to delivering reliable financial services and ensuring the growth and stability of Wazo Hill SACCOS Ltd.
Working Together for Greater Impact
Our Strategic Partners
Wazo Hill Saccos Ltd as a society works with close partners to make sure our services are provided easy and fast as requested. These are our core business partners:-
