Training programme for coops and microfinance managers launched

A training programme for cooperatives and Micro finance managers as part of efforts to enhance financial management has been launched by the Institute of Certified Public Accountants of Rwanda (ICPAR).
A cross-section of participants during the first training. The New Times / Grace Mugoya
A cross-section of participants during the first training. The New Times / Grace Mugoya

A training programme for cooperatives and Micro finance managers as part of efforts to enhance financial management has been launched by the Institute of Certified Public Accountants of Rwanda (ICPAR).

This saw about 50 managers from various financial institutions, including sector savings and credit schemes (Umurenge Sacco) trained on internationally recognised financial reporting yesterday.

 “What we want is to make sure that these institutions carry out their activities in the required manner as many of them have collapsed due to losses resulting from poor management,” said ICPAR president, Peter Rutaremara.

He pointed out that the training would help participants improve on the way they conduct their business, and simplify the work of auditors.

Rutaremara added that the training would also shade more light on the law establishing cooperatives, organisation and functions.

“We will then conduct an evaluation exercise to determine if this campaign has met our expectations,” he said.

Participants said they expected their work to improve after the training.

 “Since we all report to Rwanda Cooperative Agency (RCA) if our financial reporting suits international standards, it will help employees as well as cooperative members,” said Cedric Aimable Karangwa, Chief Accountant at Umwalimu Sacco.

Recently, RCA launched a campaign to crackdown ghost cooperatives in which 50 lost operating licenses due to poor operations.

According to RCA, some of these cooperatives were not benefiting members while others had no work plan.

RCA Deputy Director, Gilbert Habyarimana, urged  members of cooperatives to ensure they operate within the law.

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