Gatsibo hits Rwf600m mark via Sacco

Gatsibo residents have recorded Rwf 689 million in savings through the savings and credit scheme commonly known as Umurenge Sacco. This was announced this week during the launch of a week-long savings drive in Kabarore Sector. The campaign, according to district officials, is in line with sensitising local communities to adopt a savings culture. There are over 34,000 members in 14 Sacco branches across the district with over Rwf 160 million loans given to members so far. However, apart from Rwimbogo Sacco that secured a permanent operating licence from the National Bank of Rwanda, the rest still operate on a provisional basis. According to Tatien Kanamugire, a credit officer at Isonga Sacco in Kabarore Sector, the number of members of the credit scheme has significantly increased. “We have registered an increase in the number of people joining the Sacco. We call upon residents to feel free and approach us for loans. What we only consider is a person’s integrity, collateral and clearance from local leaders,” he noted. The district vice Mayor in charge of economic development, Isaie Habarurema, challenged residents to embrace the savings culture. “The culture of savings should be practised on a daily basis, so invest in Umurenge Sacco for your own benefit,” he advised. A member of Isonga Sacco, Mary Mukabagire, told The New Times that before joining the Sacco she spent all her earnings without saving. “But I have now come to understand the benefits of investing in a Sacco,” she said. Ends