CODACE receives fleet vehicles through 'Agiserera na I&M Bank' scheme

I&M Bank (Rwanda) Plc is committed to empowering Small and Medium-sized Enterprises (SMEs) by providing accessible financial solutions. As part of this, the Bank officially handed over 12 new vehicles to CODACE Cooperative on October 6. CODACE is a cooperative of former government employees who provide car rental services to individuals and various companies. This initiative, made possible through the Bank's specialised asset financing campaign Agiserera na I&M Bank, reinforces its dedication to enhancing the operational capabilities of local enterprises. The event brought together CODACE members and I&M Bank management, highlighting the positive impact of collaboration on local economic growth. ALSO READ: I&M bank drives growth for MSMEs with tailor-made asset financing solutions in Rwanda According to the Chief Corporate Affairs Officer and Company Secretary at I&M Bank (Rwanda), Iddy Rugamba, this initiative is expected to have a beneficial impact on the cooperative and play a significant role in the overall development of the nation. “Today's primary focus is the delivery of these 12 vehicles, but we view this not as a standard procedure but as a means to enhance our interaction. We do believe this initiative will positively influence our community and contribute to the broader development of our country, he said. Rugamba also added that this represents the first step in the collaboration between I&M Bank and CODACE, and emphasised the Bank’s commitment to supporting their development. “We hope for your continued improvement, and we are ready to collaborate on any future CODACE initiatives as we support you,” he added. Christian Abijuru, Head of Business Banking at I&M Bank (Rwanda) Plc, expressed enthusiasm for the partnership with CODACE Cooperative, noting that this collaboration is also about empowering the cooperative members and enhancing the services they provide. “We are honoured to assist them in acquiring these brand new 12 vehicles to support their work in the community; we believe there’s much more we can accomplish together, and we hope this will encourage other cooperatives in similar situations to seek our support.” He also highlighted the simplicity of the vehicle financing process, promising a quick response within 24 hours. This option is available to both local and international dealers and is open to individuals and cooperatives across various sectors that need vehicles. ALSO READ: I&M Bank Rwanda Reports Triple-Digit Net Profit Growth of 120% Assiel Nkusi, president of CODACE Cooperative, highlighted the significance of the initiative, stating that the provision of zero-kilometre vehicles will enable their members to engage in transport services for government institutions and ministries. He acknowledged that these vehicles are transforming the lives of their members, crediting companies like I&M Bank for their support. He further noted that CODACE has 86 members, with less than 10 lacking vehicles, indicating that this initiative will also positively impact those members. One of the members who received a car, Teddy Umutoni, expressed her joy, noting that receiving new zero-kilometre vehicles is a significant milestone. “Today is a very exciting day for me. I am very happy to have received a new car, and the best part is that it is zero kilometeres, and for someone who has been a member of CODACE since 2018, reaching this day has been a long journey. Today, my dream has come true. I’m very happy,” she said She emphasised the importance of this opportunity, explaining that the vehicle will not only benefit her family but also contribute to the economy through tax payments. With plans to hire staff, she sees this as the start of her venture into the private sector.

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CODACE receives fleet vehicles through 'Agiserera na I&M Bank' scheme