Ngororero: Residents complain over credit schemes

Some residents in credit and saving schemes in Ngororero district have appealed to the sector workers in charge of cooperatives to negotiate their withdrawal from the schemes with the banks due to loss.

Residents blame the loss on how the financial institutions give them money without guarantee but on their friends’ signatures. People who sign for them get their property sold because the beneficiaries fail to pay back.

The reason residents dubbed it “tunekwa” is because members are asked to pay every week and getting that money requires one to work day and night.

This is confirmed by residents who signed for people that accessed credit from banks like Urwego Opportunity Bank that sold their property after it couldn’t trace the beneficiaries.

Sperata Nyirangirimana, in charge of cooperatives in Ngororero district asserts that according to how residents get money and pay it back, it’s hard to get profits, the reason why most of them keep quiet and hide leaving others to lose their property in the course.

Heads of cooperatives in sectors request higher authorities to help residents terminate agreements they signed with such banks so that they access loans in a way that benefits them.

 

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