THE Director General of the Savings and Credit Youth Cooperative (COJAD) has announced that youth unemployment is on the decline following the disbursement of loans to its members.
Speaking to The New Times, Jean Louis Musoni, said that from 2009 to 2010, COJAD advanced Rwf 1.36 bn to over 1,030 members in Bugesera and Kigali City who went ahead to invest in the informal sector.
He added that most beneficiaries have started businesses that are employing more youth. “Some have created hairdressing businesses which employ over five people,” he said.
Motorcycle taxi business is the other viable business.
According to Musoni, in 2009 over 2,620 jobs were created through the loans given to members and the figure has now hit 3,000.
He added that he is happy with the loan repayment rate, with most creditors having honoured their payment plans.
“We are speaking of a 90 percent loan repayment rate,” he said. They don’t wait to be compelled, they respect the deadline.”