NORTHERN PROVINCE

GICUMBI — Only a few people in Gicumbi district are seeking salary advances or short term loans after the festive season. Bank officials say this may be because residents avoided lavish spending during Christmas and New Year celebrations.

"In previous years, majority of the people would throng local banks during January in search of short term loans to foot school fees, house rent and other domestic requirements after spending lavishly during Christmas and New Year festivals. This January has seen the reverse of this state of affairs,” say Byumba town bank officials. 

A mini survey conducted by The New Times on Thursday at Rwanda Commercial Bank (BCR) and Banque Populaire du Rwanda in Byumba town, indicates that few clients sought short term loans to foot school fees, house rent and other domestic requirements in the first week of January.

The BCR manager at Byumba branch, Prosper Ruboneza, admitted that few people have turned up for short term salary loans, saying majority of them did plan for Christmas and New Year celebrations ‘wisely’.

"There were very many clients seeking short term loans prior to Christmas and New Year festivals but few have turned up for them this January,” said Ruboneza.

Ruboneza however, observed that most of their clients still know that banks close down for annual financial controls during the first days of January, which could be the reason they have not received many of them seeking short term loans.

"Our banking systems are now fully computerised such that annual financial controls are done in the shortest time possible,” he added.

Saidi Karegeya, the Byumba Banque Populaire branch manager, also said they had received very few clients seeking short term loans commonly referred to as Imanura mbabura.

"Clients have learned to economise their finances, which is why few of them have turned up for short term loans this January,” he said.

On long term loans, Karegeya said the bank is still conducting its annual financial controls until January 12, because their banking system is still manual. 

"This however, does not stop us from conducting our daily activities of providing short term loans and receiving customers who intend to withdraw or bank their money,” added Karegeya. 

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