Rwanda | Ngororero: Muhororo Sector pioneers Umurenge SACCO building
Muhororo Sector Ngororero district recently held a ceremony that meant to officially inaugurate the construction of newly and first Umurenge SACCO building.
The new building worth 18 Million Rwandan francs is to offer services to the 3730 members who have banked about 51 Million Rwandan francs. So far this SACCO has given out loans worth 33 Million Rwandan Francs.
Ngororero district Vice Mayor requested other residents who had not yet joined financial institutions to do so in order not to be left out by developmental projects.
Locals gave testimonies regarding their financial success stories with the Umurenge SACCO.
Anastase Niyonsenga received a loan which he used to buy carpentry machines that currently earn him a living.
Emile Ndaruhutse in partnership with his friends received a loan that they used to buy a rice processing machine.
Chief Guest at this inaugural ceremony, Honourable Amiel Ngabo reminded attendees that the current financial development registered in Rwanda and Muhororo in particular is as a result of good governance spear headed by President Paul Kagame.
“You also need to take care of other public services like the 12 Year Basic Education School that was built in Kanogo.” Noted the honourable
Umurenge SACCO is a government of Rwanda initiative as elaborated in the Vision 2020 development agenda that aims to increase access of financial services to citizens. The concept of Umurenge SACCO was initiated on the understanding that banks and other financial institutions are more concentrated in towns and less spread in rural areas to serve the poor.