Zigama Credit and Savings Society (Zigama CSS) has announced a net profit of Rwf17.7 billion up from 13.7 billion in 2020. The results were announced on Monday during the bank’s General Assembly held at the Defence Headquarters, Kimihurura. “It was a successful year as the Bank kept its growth and we are optimistic that it will grow even more in the years to come” the Bank’s Chairman of the Board of Directors, Dr James Ndahiro, told the General Assembly He pointed out that the main agenda of the meeting was to present to members the 2021 audited financial statements. He further thanked members for their continued support and collaboration. Zigama CSS, officials said, continues to expand the use of IT services to facilitate its members for different transactions. For instance, in 2021 the digital services transactions were 96 per cent and 4 per cent cashier transactions. The financial cooperative highlighted that digital services currently available Include mobile money, mobile application, ATM, USSD, SMS message to facilitate its members for different transactions. Zigama—which predominantly caters for members of the Rwanda Defence Force, Rwanda Correctional Service, Rwanda National Police, and Rwanda Investigation Bureau (RIB)—has more than 90,000 members. Consequently, the bank has a target of raising its asset value or capital to $1 billion in the next five years (2019-2023) from the current $280 million.
