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.