Financial woes facing security guards in Rwanda could come to an end as plans to create their Savings and Credit Cooperative (SACCO) are, at an advanced stage.

Championed by security guards working for KK Security Company, the group started as a revolving savings and credit association for social welfare purposes. However with savings currently amounting to Rwf20 million, they have plans to turn it into SACCO in the next five years.

The move is backed by SENJOUSMEL, a trade union for workers in private sector, and security companies with view to improve the welfare of security guards.

With skills in entrepreneurship, they seek to make a further investment that would make them self-reliable.

Abdon Faustin  Nkotanyi, the Executive Secretary of the trade union, said that saving fund was created in 2017 by 17 security guards.

The savings have increased from Rwf170,000 to about Rwf20 million with 264 members with 648 shares considering the savings on accounts and those loaned to members.

He said that 10 per cent of the savings are reserved for solidarity actions in case of burial, wedding and others.

"This initiative will help us to solve the financial woes faced by security workers. The fund can currently serve as collateral for any member who goes to the bank for a loan to undertake different income-generating projects. They have already set up an office. With growth over time, they want to turn this saving association into a commercial bank,” he said.

Members want savings to amount to at least Rwf150 million in the next five years, he said.

Eddie Sebera, the manager of KK Security Company said that the Saving fund will increase the workers financial capacity.

The minimum wage is Rwf60,000 in this company but in some of the security  companies, security guards are paid Rwf40,000 and Rwf30,000.

"With this little salary, security guards need other sources of income,” he said.

The initiative is also part of the government’s initiative to promote saving culture.

Max uwiragiye, the coordinator of Rwanda Security Companies Industry said that there are 17 security companies in Rwanda with over 22,000 workforces.

 "We want all companies to play role in building this financial institution,’ he said.

Security guards speak out

Christian Nizeyimana, one of the security guards said that he is paid Rwf40,000 noting that the amount is too little to afford all basic needs.

"If such initiative becomes successful, we hope that even security guards can start income-generating projects. Rwf40,000 is little. The meagre salary leads me to rent an accommodation room that is not decent. We do not take lunch most of the times due to financial woes. With such a solidarity fund, our dreams can also come true,” he said.

He added that that company that hired him does not offer a day off yet the wage is too little.

"Even when you get absent, they deduct money out of such little salary. We need measures that can improve our life,” he said.

Patrick Kananga, the Director of Labour at the Ministry of labour said that they will continue to provide support and ideas on how the goal can be achieved.

"The Ministry of labour supports the idea of promoting self-reliance among workers. Once they become financially strong, they will also build strong trade unions. We want reforms like this in the security industry,” he said   

editor@newtimesrwanda.com