Rwanda | Nyamasheke: Village Sacco s a better for poverty eradication
It has come out that Village Sacco’s is the best way of alleviating poverty among Rwandans since both urban and rural people in whatever situation or class can access and afford their services.
The stake holder in charge of cooperatives development in Nyamasheke district Fotide Rucakatsi revealed so far the 15 village Sacco’s operating in the district gave out loans worth Rwf290, 534,418 all being used for developmental projects by district residents.
Rucakatsi urges leaders on the lower level to encourage people who are still enslaved with poverty more especially women and the youth to access village Sacco’s for soft loans that will enable them achieve development.
All the 15 village Sacco’s operating in the district have operating licenses and 11 with the authority to give out loans with restriction of not exceeding the profit interest of 60% on the savings made.
Out of the 15 village Sacco’s in the district, 2 of them have their own premises of operation whereas the rest are still working in rentals and government houses as they are also struggling to devise means of building their own office premises.