Village lending associations get rewards

At least 10 Village Savings and Loans Associations (VSLAs) from Gatisbo district were last week awarded after business competitions organised by the Rwandan Youth Parliament, an organisation better known by its French acronym, Pajer. The competition that attracted more than 23 groups, was organised in partnership with Plan International Rwanda. The participating associations presented their business profiles and work plan that promotes agriculture and other plans aimed at fostering economic growth. At a function in Kiramuruzi, 10 associations with best plans were awarded iron sheets, improved seeds, weigh machines and other farm equipment. Pajer Chief Executive Patrick Karangwa advised the associations to start borrowing money from banks to enhance their capacity. Encouraging competitiveness Clementine Mukandagizimana, the chairperson of Bakundumurimo lending and saving association in Kabarore Sector Gatsibo District, commended the initiative, saying it would encourage others to be more competitive. She said that they started contributing Rwf300 and after the saving cycle of 9 months they decided to start contributing Rwf5,000. “After this, we started selling beans and maize as an incoming generating activity,” she said. The winning business plan for Bakundamurimo consists of a house worth Rwf2 million, which will host a grinding machine and warehouse.

National

Village lending associations get rewards