COAMV should become a Trade Association, Minister Kanimba.

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On Friday 9th December 2011, François Kanimba Minister of Trade and Industry visited COAMV (Maize Milling Cooperative) in Gahunga sector Burera District and said that COAMV should become a Trade Association after the cooperative members told him about its working capacity.

COAMV should become a Trade

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COAMV members showing Minister Kanimba what the cooperative does.

Upon hearing that the cooperative has 16 share holders, Minister told them that a real cooperative must open doors for many members. “Why a few cooperative members when maize growers are many, a cooperative with legal personality should have many members.” Adds Minister Kanimba.

Members say that they have a problem of acquiring loans from different banks so as to expand their activities.                                                                                                                           Members representative says that “Our cooperative has the capacity of milling 15 tons of maize per day but now we mill only one per day due to lack of necessary materials”.

Minister proposed that they change the name from cooperative to Trade Association.”Bank cannot deny you a loan if you are a trade association” continues Minister who says that because trade business is a legal entity, it does not face the problems a cooperative faces.

Rwanda Cooperative Agency (RCA) in association with Ministry of Trade and Industry agreed to support COAMV in delivering efficiently and in economic development. Cooperative COAMV (maize Milling cooperative) started 2003 and got a legal personality in 2006.

However, in March 2011 this cooperative doors were closed by Rwanda Bureau of Standards so that they first purchase rust free milling machines.

 

 

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Based in New York, Patrick is a Wall Street Broker and Financial Pundit. He works as a Foreign Consultant for Rwanda Eye. His insights on the current economic trends and its impact on Rwanda and Africa, makes him an invaluable asset to Rwanda Eye.

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