Nyaruguru residents embrace saving culture
Residents of Ngera sector in Nyaruguru district have embraced the saving culture, responding to a call by the local authorities; banks and small financial institutions operating in the area.
Resident’s state that working with financial institutions and banks improved has improved the social and economic standards of some resident.
Many used to keep money in household items like calabashes and cow horns but never achieved anything developmental until they embraced working with financial institutions.
This was revealed during the event to launch a special savings week in Ngera sector in Nyaruguru district.
Celestin Rusanganwa, a resident of Ngera sector confirmed that he used to keep money in the calabash but that money never helped him in anyway.
“I used to keep money in my house but was never sure of its security. After I started saving money in the bank, I get access to loans and always assured my savings are secure,” he said.
Another resident, Francoise Nyirasafari added that before he started working with financial institutions, he had nowhere to borrow money from in case of need.
“I couldn’t get a loan before but after embracing the saving culture today I am able to get a loan and start income generating projects,” she disclosed.
Alphonse Munyantwari, Governor of Southern Province revealed that though many Rwandans have embraced a saving culture, sensitisation is going on to make all residents aware of the importance of working with financial institutions.
“We need to instill saving culture into residents. Residents should know that there is no social economic development without saving,” he explained.
SACCO savings in Nyaruguru district is over Rwf1 billion while it’s up to Rwf7 Billion in Southern Province.