Umwalimu SACCO targets 35 449 new members

Umwalimu SACCO, a teachers’ Credit and Savings Scheme is targeting 35,449 members by next year, a move that will increase its corporate shares by Rwf 20 million.
Joseph Murekeraho.
Joseph Murekeraho.

Umwalimu SACCO, a teachers’ Credit and Savings Scheme is targeting 35,449 members by next year, a move that will increase its corporate shares by Rwf 20 million.

This was revealed on Saturday, during Umwalimu SACCO’s first annual meeting held at Ecole Technique Muhima, Kigali city.

According to the scheme’s Chairman, Joseph Murekeraho, the membership will have increased from the current 33,000 of the 37,000 teachers in government schools across the country.

He added that increase in membership will in turn register an increase of Rwf 2m and Rwf 2.2 bn as subscription fees and savings respectively.

Murekeraho, expressed optimism in the teachers’ scheme saying it was the most successful ever in the country adding that it intends to open branches in all Provinces before the end of 2009.

Currently seven branches in Gicumbi, Musanze, Muhanga and recently four new branches which were opened in Rubavu, Nyamagabe, Rusizi, and Huye Districts are operating.

According to the Head of Marketing and Public Relations, Joseph Mugire, there’s an aggressive marketing strategy to have on board more than 4,000 teachers in government schools and the same number from private schools.

“The campaign is ongoing but with an intention of making it optional and not mandatory to all teachers,” said Mugire.

He added that most teachers have shown interest in different business projects especially in livestock, agri-business, photocopying machines, and others have opted for motor bikes for transport while the biggest percentage is more into housing.

Mugire said that they advise them on different projects with the core objective of retaining them and making them benefit from the scheme.

Umwalimu SACCO was launched in September this year with a working capital of Rwf 1 bn donated by the government.

The objective of the scheme is to improve the teachers’ professional lives, get access to loans for different income earning projects to be able to meet their needs and to contribute to the socio-economic development of the country.

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