RUSIZI - In respect of the government saving project (Umurenge SACCO), Rwimbogo Sector in Rusizi District over the weekend officially launched a savings and credit co-operative (Baho SACCO-Rwimbogo). Baho SACCO which offers a free account and begins with only Rwf1000 as savings, aims at promoting the sector’s residents by encouraging the habit of saving and securing credit which will facilitate them to be financially independent. “This is a co-operative that will develop each local resident who compiles. It will give loans to its members and as well help them realize their dreams, financially,” Theoneste Munyenshya, the Co-operative president. Munyenshya highlighted that the co-operative will start by only offering small loans of up to Rwf300,000 since it is just beginning. The co-operative was highly applauded for developing residents’ income and as well helping them embrace the culture of saving. “In the little time I have spent in Baho,I have saved more that 400,000rfw yet in the past I couldn’t even save a coin, “said Germi Kamatari, a member. The co-operative encourages saving through blocked accounts where they can save but not withdraw, until after a specific period, of which they also have the eligibility to acquire loan. The Mayor of Rusizi, Fabien Sindayiheba called upon residents to support their cooperative and to know their shares so as it helps them in planning. At the event, the sector opened over 20 accounts for vulnerable residents on which they deposited Rwf1,000 on each. Rwimbogo sector has more than 18,000 residents who depend on agriculture and trade, mainly in the Gishoma market. Ends
