Rwanda: Bad Loans Weigh Down Umurenge Saccos

Non-performing loans (NPLs) among Umurenge SACCOs increased to 12.5 per cent in the first half of the year, from 8.2 per cent over the same period in 2015, the central bank's monetary policy and financial stability statement indicates. This is higher than the industry average of 7.5 per cent, according the report released last week.

The central bank attributed the rise to the weak loan portfolio management by SACCOs, saying its recent onsite inspection found gaps in this area.

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