Eastern Province collects Rwf 800 m for Saccos

RWAMAGANA – The sector credit and savings cooperatives (Umurenge Saccos) have raised operating capital of over Rwf 801 million since their inception in the Eastern Province, the Governor of Eastern Province has revealed. Dr. Ephraim Kabaija said the collection made was against the province’s minimum target of Rwf 1 billion. He called on the local leaders to increase the momentum to raise the balance for all Saccos to start operating smoothly. He was speaking during a monthly Provincial security meeting that was held at the Provincial headquarters in Rwamagana on Wednesday. He said that the Sacco’s long term aim is to uproot poverty in rural areas, and that it should be given the attention it deserves. “The Rwf 1 billion target we have still stands…I want those districts lagging behind to double their efforts in order to hit the target,” he said. Fred Sabit Atuhe, the Nyagatare Mayor, said that his district will soon have its Saccos fully operational, adding that the only issue left was related to clearance by the National Bank (BNR). “We are leading in the province with well over Rwf 180 million collected so far. This capital is enough for the successful operation of the financial institution. We have surpassed by far, the required minimum capital needed,” he said. Emmanuel Karimba, a local leader in Gahengeri sector in Rwamagana said that the people’s negative attitude towards micro-finance institutions, had affected the Sacco’s capacity to accumulate capital. He however, noted that sensitization efforts carried out so far has served to reverse this sort of perception. Nyagatare district has raised the highest amount closely followed by Bugesera, Rwamagana and Gatsibo. Ends