21 January 2019

Rwanda: Musanze Taxi-Moto Operators Build Rwf163 Million Commercial Complex

Cooperative de Taxi-Moto du Nord (COOTAMONO Ubumwe), a cooperative of 400 motorcycle taxi (taxi-moto) operators from various parts of Musanze District completed a Rwf160 million commercial complex largely from their savings.

The cooperative also secured a Rwf86 million bank loan to help put the building.

Dubbed "COOTAMONO Ubumwe House", it is located on Musanze-Cyanika highway in Bukinanyana Cell, Cyuve Sector.

The cooperative president, Aron Rukundo, explained that they came up with the idea of investing in real estate in 2009 but started implementing it in 2017.

"We opted to invest in this business because it is profitable in the long-term," Rukundo told The New Times.

"That is when we decided to invest and we started by buying the plot of land".

Each member bought shares worth Rwf50,000 and contributed Rwf300 daily.

"It only took us a year to build this house and every member played a crucial role in the process by paying contributions on time," said Rukundo.

The members of COOTAMONO Ubumwe Cooperative also strive to lift themselves to another level through supporting individual members.

For instance, a motorcyclist who doesn't have his own motorcycle is facilitated to apply for a bank loan to buy the motorcycle easily.

The cooperative officials also revealed that they own properties worth over Rwf250 million in the district and their next priority is to build a hotel in Kinigi around the Volcanos National Park, a popular tourist destination.

Rwanda

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