Rwanda | Nyamasheke: Financial institutions losing due to untrustworthy borrowers
A meeting of Access to finance forum was held in Nyamasheke district on the 29th of February with the aim of finding a solution for people who fail to pay back borrowed money from various financial institutions.
Officially opening the meeting the vice mayor in charge of finance and economic development Charles Bahizi said that financial institutions collapse as a result of people who fail to pay back and urged the the concerned authorities should to intervene and solve the problem.
Bahizi advised financial institutions operators to always offer good services and follow up their customers closely as a way of handling the issue of people who fail to pay back the borrowed money.
He said that it is the financial institutions responsibility to follow their client’s closely and offer them advice on how to invest the borrowed money since the person will not fail to pay back once he or she earns a profit.
Bahizi said the meeting should end after coming up with ideas of improving better working of access to finance.
The meeting concluded by selecting a committee to head access to finance forum and was charged with the responsibility of following up closely people who have taken long without paying back to financial institutions.