The Teachers’ Savings and Credit Cooperative, Umwalimu Sacco, on Thursday hosted a delegation of 32 members of Savings and Credit Cooperative Union League of Tanzania.Speaking to The New Times, the head of the delegation, Florien Haule, said they are here to learn from their counterparts. “We wanted to come and learn from this cooperative, mainly mechanisms that have been put in place to achieve its target,” Haule said, adding that they had a lot to learn from the cooperative. Members of Umwalimu Sacco acquire loans at 14 percent interest rate. To date, depending on one`s salary, teachers have access to loans of up to Rwf 15 million.The government plans to increase the annual financial support to the cooperative to Rwf 5 billion .Last year, the cooperative gave out loans to 32,000 teachers and targets 50,000 teachers by the end of this year.
