Saccos urged to invest in capital markets

HUYE – The Legal and Corporate Manager of Rwanda Capital Market Authority (CMA), Charles Furaha, has called on Savings and Credit Cooperatives (Umurenge Sacco) to invest in capital markets as a way of creating wealth for their clients.Addressing Southern Province Sacco managers, he said it was important for them to be knowledgeable about the capital market, adding that it would inform their decisions of either investing in the markets or not. The exercise is in line with CMA’s public education and awareness programme which seeks to educate the community on the benefits of in the market.“Saccos have accumulated a lot of deposits in their accounts from their clients but at the end, you come to realize that they have not used the money. The money benefits mainly the banks than the Sacco clients,” he noted“Instead of keeping the money dormant on the accounts, they can invest it in capital markets and earn returns on it,” he said. Jean Claude Rutayisire, the Manager of Muganza SACCO Indashyikirwa in Gisagara District, told The New Times, the exercise has helped him to discover another way of utilising the deposits better.“We have money and I think investing in capital markets will be of a great benefit to our clients,” Rutayisire said.CMA is a government institution tasked with regulating and promoting the capital in Rwanda as well as the promotion of public awareness of the capital markets, among other responsibilities.

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Saccos urged to invest in capital markets