From Frw100 savings to millions

EASTERN PROVINCE RWAMAGANA — The governor, Theoneste Mutsindashyaka, has called on all sector leaders to emulate the working methods of Nyamiyaga sector, on performance, which evolved from a poor sector to one of the rich sectors.Addressing local leaders, during evaluation of performance at AVEGA center on December 19, Mutsindashyaka hailed the executive secretary of Nyamiyaga, Andrien Twamugabo for his approach in tackling poverty; by initiating a saving scheme for residents.“The executive secretary of Nyamiyaga sector [Twamugabo] in Kayonza district, has acted as a role-model in reducing poverty in his sector. He mobilized all residents for a saving scheme where every resident started contributing only one hundred francs and now they have Frw8million ready to buy a Fuso truck out of the savings,” Mutsindashyaka said and appealed to the rest of the executive secretaries to emulate Twamugabo. Twamugabo explained that he conceived the idea of a saving scheme; after realizing that residents were wasting a lot of money on unproductive activities like drinking local brew. “I moved from family to family suggesting the need to save only one hundred francs per week; an idea that was fully embraced by residents. We immediately started the saving and in the last two years we have so far raised Frw8 million,” Twamugabo said and added that by next year the money will have doubled. Twamugabo noted that lack of vision was the cause of poverty. He explained that they had moved great strides from being the poorest in Kayonza to acquiring a position among the model sectors-vision 2020 -Umurenge. He said it was out of vision and determination that they had attained that level. Meanwhile, participants at the function raised Frw4million towards the purchase of a personal car for Twamugabo, as a motivating factor. During the same function the Governor of National Bank of Rwanda, François Kanimba, urged participants on the role of Micro saving schemes. Commenting on the closed micro finance institutions in the country, Kanimba reiterated their resolve to allow only those that fulfilled the requirements to do business. The Rwanda national bank, last year closed atleast nine microfinance institutions across the country, allegedly over mismanagement.Kanimba disclosed that the government had injected money into bank Populaire to refund the clients who had savings in the closed microfinance institutions. He appealed to local authorities to ensure that all the affected clients are cleared. Ends