Gakenke: SACCOs to be restructured

In a bid to improve the performance and operational services of SACCO’S (umurenge savings and credit cooperatives), Gakenke advisory council has called for qualified staff.

This was disclosed during a one day meeting that brought together Gakenke district advisory council discussing on strategies of financial accessibility and maintainance.

Nizeyimana Ildephonse the chairperson of cooperatives in Gakenke district said that this decision will enhance proper management of funds in all sectors adding that change is normally needed in all economic fields.

“SACCOs had 5 millon as the capital when they were starting, and now they are managing about 80Millions, they have to be managed by people who studied financial management and who understand banking operations.” Said ildephonse.

He went on to say that in some places, SACCO’s showed some weaknesses, and asked for change while reminding them that the funds in these micro finances belong to citizens who trust them.

Nizeyimana Ildephonse went on to say that executive secretaries should make a daily follow up of these SACCOs since they are near them and to avoid problems related to theft.

Nzamwita Deogratias, Gakenke district mayor said that if people’s money are badly handled, they lose trust in the banking system . he assured that. “There is no doubt Umurenge SACCOs is the only way to achieve the political commitment of increasing financial inclusion fro all to 80 percent by 2017.’’

In Umurenge Savings and Credit Cooperatives (SACCOs) Rwanda has the best strategy at its disposal to alleviate poverty through promoting  Financial inclusion for the rural people.

Gakenke district SACCO members mount to 64.000 and about 260Million francs have been given out as credit to members with good projects. The district vowed to give out 120Million francs as a credit and to reach 66.000 million by June 2012.




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