RWAMAGANA – The government will soon start training managers of the Savings and Credit Cooperative (SACCO).
Addressing local and SACCO leaders in Rwamagana district on Thursday, the governor of the National Bank of Rwanda, Francois Kanimba, stressed the importance of cooperative banks in realising the country’s Vision 2020.
“We want to give skills and ensure that all Rwandans join SACCO. Joining SACCO is vital to towards achieving sustainable development in Rwanda,” he said.
“It is wrong for one to view it at the individual level.”
Damien Mugabo, the Director of Rwanda Cooperative Agency reiterated the government’s commitment to start contributing 80 per cent towards the running of SACCO.
He explained that the contribution will keep diminishing by 30% annually, until a given cooperative remains totally self-sufficient.
“The government will first meet 80% of the running costs including paying well qualified staff and capacity building,” he said.
Earlier, local and SACCO leaders in the eastern region had cited lack of required skills to manage cooperative banks.
It was noted that in some sectors in Rwamagana district SACCO has not taken off.
“We in Karenge sector have failed to start completely. Neither the local nor SACCO leaders know what to do,” Epimake Mbonima said. “We don’t have anything to convince the people to join the cooperative banks.”
Rwamagana district ranks last in developing SACCO, followed by Bugesera district.