Rwandan women urged to use Umurenge Sacco for social development
Southern province Governor Alphonse Munyentwali urged women to engage in Sacco programs for their social and economic development. This was said during the event to officially open ‘SACCOs KIRA KARAMA’ (SAKIKA) building late last year (2011) at Karama sector in Kamonyi district.
SAKIKA boss Ntezimana Isai, said there was no savings and credit associations in Karama sector until Sacco came into existence. “Local residents had trouble to find places where to save their money, so they had to go to other sectors’ SACCOs for savings and credit operations.” He added.
Statistics show that only 28% of women in Karama sector use SACCO, a small rate compared to men (more than 50%).
Generally savings and credit cooperatives (COOPEC) went bankrupt as most residents chose to keep their money in their homes, and because of this people are still reluctant to joining SACCOs in sectors.
In his speech, Governor Alphonse thanked the residents and their leaders for this step taken and asked residents to invest in income generating projects. “Invest in other off-land projects. Everyone should think of a project and then SAKIKA will give you startup up loans to”. Govern Munyentwari revealed to people adding that so far, SAKIKA has accorded 57% of loans to business projects and 8% to agriculture projects.
The Governor further said that women should be fully sensitized about using SACCOs because they are better than men when it comes to accountability. Mukakarangwa Fransisca of Rwanda Cooperatives Agency assured the residents that even if the Sacco is private, their money will be safe in its hands unlike COOPEC which went bankrupt and never paid back. Women were strongly encouraged to join the newly launched Sacco because a mortgage system will be put in place to help them secure loans and start up profitable projects.
The newly opened Sacco office cost Rwf 25million plus community work of its 3300 members. SACCO has Rwf 18 million as a startup capital.
Figure 1: Newly launched Sacco building
Figure 2: Governor Munyentwari
Figure 3: Governor Munyentwari launching Sacco