Rwanda | Karongi: Coopec Inkunga opens new office premises

Karongi Coopec Inkunga

Coopec headquarters worth over Rwf70 millions

A credit and saving cooperative (Coopec Inkunga) in Rubengera sector in Karongi district is now operating in its new building.

The completed building in kabirizi cell is worth over Rwf70 million

While officially opening the new building, Claudien Nsengimana, accountant for Coopec Inkunga, said that it started as an association in 1993.

Though it had no capacity to lend more than Rwf500 to its members, Coopec has reached the level of building a Rwf70 million operations building.

Nsengimana highlights “We cannot compare ourselves to the millionaires who build big mansions but we value our success depending on the purpose not money. Our members are just farmers that started with Rwf500 as shares.”

Anastase Uwimana, the president of the administrative committee of Coopec Inkunga asserts that the cooperative has taken a big step within the past five years. From 1500 members to 8000, the members’ shares increased from Rwf8 million to Rwf30 millions.

In addition, shares increased from Rwf80 million to over Rwf400 millions.

Loans given to the members in a year increased from Rwf140 millions to Rwf1 billion in 2012. All transactions are electronically carried out.

During the event, Ethienne Karemangingo one of the pioneer members narrated how he joined “Coopec imbonezabukungu” now “Coopec Inkunga” and now earns his income through renting the houses he built.

Karongi and Rutsiro district officials, National Bank of Rwanda (BNR), Fina Bank, Rabo bank and Terrafina banks from Holland graced the occasion.

Coopec Inkunga operates in 15 sectors of Karongi and Rutsiro districts and most of its members have greatly achieved social development according to their testimonies.

Rwanda Cooperative Agency representative thanked Coopec Inkunga for working within the government plan of having many people working with financial institutions.

Although the government wants 80percent residents to work with credit and saving institutions, 70 percent of the people seek services of financial institutions due to the efforts of Coopec Inkunga.

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