Gatsibo: Residents hail Umurenge SACCO

Residents especially men have understood the importance of saving in striving for self-reliance

Residents especially men have understood the importance of saving in striving for self-reliance

Residents in Gasange and Murambi sectors in Rutsiro district have commended Umurenge SACCO, saying it’s the factor behind the implementation of Kora wigire, a national employment programme to curb down unemployment.

Residents revealed this during savings week that started on October 25-31, 2014 in Rutsiro district under the theme “Save NOW for a better FUTURE”.

Mukagatare Sylvie, a farmer confirmed that working with SACCO enables her to save and access loans anytime she needs more money.

“Saving money on SACCO account has helped me to save from what I earn. I have access to loans whenever I need more money for other development projects,” she said.

“Umurenge SACCOs reach out to members and areas that are unattractive to banks, they can provide access to members of the population who would not normally save in the formal sector and physically not access a classic financial institution, due to locality and deposit restrictions.

Liberata Mutumwanjishi, treasurer of Sacco-Gasange stated that though residents have embraced Sacco’s, the number of men still outweighs women mostly because of negative attitude in some women.

Umurenge SACCO is a financial institution under the cooperative form, which operates in the financial system.

Umurenge SACCOs largely contributed to the 72% financial inclusion in 2012 and they are expected to include many more people into the formal financial services arena.

The fundamental objective of Umurenge Sacco is to maximize the benefits which members can obtain from their transactions with the coopera­tives. About 1.3 million peo­ple are members of Umurenge SACCO country wide.

Umurenge SACCO were launched in all 416 sectors of the country as a way of mobilizing the population to save for the future but at the same time mobilize more mem­bers for Umurenge SACCO and the population to own it.

The government has been helping Umurenge SACCO to grow through providing exper­tise and building the capacity of people at the grass roots to manager them effectively.

It’s expected that NEP will help the country reach set targets of creating 200,000 off-farm jobs as per the Economic Development and Poverty Reduction Strategy 2 (EDPRS2).

 

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