Rwanda | Nyamasheke hits 44% in savings participation
The numbers of citizens involved in Sector Credit and Loan Schemes Umurenge Sacco, has increased in Nyamaseke district from over 68.000 to over 75.000 which is equivalent to 44%.
The increase was achieved in less than three months according to the evaluation report of the 2011 district performance contracts.
The district had set a target of having at least a half of the population (over 85,000 residents) use the schemes between 2011 and2012, which is equivalent to a 10% increase by July 2012.
The initial participation was rated at 40% which is equivalent to 68,000 residents.
The district also plans to ensure that all Sacco schemes acquire legal certificates and permits of operation as loan schemes. By the end of 2011, only four had been fully certified while remaining 11 schemes had submitted request to the National Bank of Rwanda (BNR).
Local leaders have continued to encourage residents to join the credit and saving schemes as a means of propelling social and economic development in the district.