19 October 2011

Rwanda: Sacco Mayange Roots for Self-Reliance

Bugesera — A savings and credit cooperative (Sacco) in Bugesera District has set its eyes on becoming self-reliant in the near future, weaning itself off the direct support from the Rwanda Cooperative Agency (RCA).

SACCO Mayange officials say they will not wait for the expiration of RCA's three-year grace period.

The cooperative currently has 2,472 members and 252 groups, with accumulative deposits of Rwf 100 million, and 1,236 functioning accounts.

Speaking to The New Times on the sidelines of a two-day workshop, Aimable Habinshuti, the head of the Sacco management, called for regular training to keep their cooperative personnel abreast with ever-changing technologies.

The Mayor of Bugesera District, Mayor Louis Rwagaju, said that Sacco Mayange was doing exemplary work.

The two-day training in cooperative management was organised by the Millennium Villages Project (MVP) in partnership with the National Bank of Rwanda, and RCA.

"They are ahead of schedule in various aspects there is no doubt that they will be able to stand on their own sooner than later," Rwagaju said.

Gerald Nsabimana, a BNR official, stressed the importance of regular training for technical staff, especially accountants and loan officers.

Hundreds of Saccos have been established across the country to help transform the lives of the population.

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