Rwanda | Ngoma: Confidence increases as Sacco set up administration houses
Customers of Umurenge SACCO have revealed that they are gaining confidence in them as Sacco’s continue to build their own administration houses.
This is because most Sacco’s have been operating in a small room that is equivalent to a sector office.
This fear existed arising from small financial institutions that emerged in previous years and collapsed taking along our heard earned savings, residents reveal.
One customer of Umurenge Sacco-Kazo asserts: “At first I could deposit little money in Sacco and keep the rest in other banks in fear of its security. However, with confidence I keep all my money in the nearest SACCO.”
The acting accountant of SACCO-Kazo, Josue Habimana remarks that customers have increased in numbers after they started operating in their new building.
“It has restored assurance to our customers, who are picking interest in promoting Sacco,” he adds.
Most of the Sacco members and non members confirm that having their own offices is a manifestation that these financial institutions will not make loses.
The big challenge is Sacco’s failure to satisfy their big customer base concerning loans, and they ask National Bank of Rwanda to allow them not to exceed Rwf2 million on one customer.
Umurenge SACCO – Kazo has up to 3000 members and hope to receive many more customers since residents are gradually eliminating the fear.