SACCO boss steps down

The Director General of the Teacher’s Savings and Credit Cooperative (SACCO), Joseph Murekeraho has resigned from his post and the resignation has been accepted by cabinet. Umwalimu SACCO a teachers’ credit and savings scheme was launched late last year to help teachers by providing them with credit. Umwalimu SACCO, started with a working capital of Frw1 billion, donated by the government for the teachers’ cooperative.So far, 83 percent of teachers have subscribed to the SACCO, the majority being from government schools. 32,000 out of the 37,000 teachers in the country had subscribed to the SACCO. The savings’ scheme plans to open branches in all provinces before the end of 2009 with 170 branches targeted for 2010. Umwalimu SACCO is mandated to empower its members by uplifting their socio-economic welfare and to contribute to the socio-economic development of the community in which they live. Murekeraho who has served in various capacities was appointed to head the Credit cooperative after being dropped from cabinet where he served as the State Minister in charge of Primary and Secondary Education. Murekeraho had also headed the Rwanda National Examination Council (RNEC). The reasons for Murekeraho’s resignation had not yet been established by press time. Ends