Rwanda : Sacco loans better when acquired in groups
Members of ‘Sacco Ibonemo Gacurabwenge’ under the umbrella ‘Abunze Ubumwe’ in Kigembe cell Kamonyi district received a loan to buy mattresses.
The officials of that Sacco urged other people to emulate the example of forming cooperatives to secure loans for self development.
The umbrella ‘Abunze ubumwe’ achieved their long a waited dream of stopping to sleep on grass made mattresses after spending five months of opening an account with the Sacco which was realized on the 21st/03/2012 when they were given mattresses worth Rwf1,530,000 to be paid back with in a period of one year.
The accountant of ‘Sacco Ibonemo’ Christine Uwizeyimana revealed that the umbrella ‘Abunze ubumwe’ was the first to acquire a group loan and urged other Sacco members to emulate the example of borrowing loans in group as they develop many people at once and easy to pay back.
Members of the umbrella ‘Abunze ubumwe’ were grateful of the idea to acquire a loan in a group because it enabled them to get a discount on what they bought.
“Having bought these mattresses in a group enabled us to get a discount on them because each mattress was valued at Rwf39500 instead of Rwf45000”, Bellancille Mukanyandwi an umbrella member of ‘Abunze ubumwe’ remarked.
The accountant of the Sacco informed them that three more umbrellas will get loans soon since their projects have already been approved.
In partnership with Business development centers (BDC) which trains people in setting up projects, the Sacco of Gacurabwenge is urging people to form umbrellas and borrow money to set up their proposed projects.
The Sacco officials will be visiting people in their respective cells to carry out Sacco activities as a way of reducing on the people’s burden to making long journeys to Gihinga where their Sacco offices are currently located and as they are also waiting for their new offices being constructed in Kamonyi to get complete.