PEOPLE IN MBAZI SECTOR ARE USED TO SAVING.

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Many people in Mbazi sector in Nyamagabe district now save their money in a Savings and Credit Cooperatives (SACCO) that is at the sector. This was said by the SACCO management.

In this sector, people and their leaders started a SACCO and called it Ikirekezo Mbazi Sacco. Alex Biganiro, the manager of this SACCO said that it has 2510 members and they have saved more than 72millionfrw. He said that they have given credit to their members that exceed 10millonfrw. He also said that every member can get 1millonfrw credit as long as he/she guarantees capital that is not shifted

Niyitegeka Maria is a market vendor and is a member in this SACCO; she says she is happy for the way it is helping them develop themselves. She first asked for a credit of 400.000frw which she has already paid back and now she got a credit of 1milionfrw with which she intends to buy a motorcycle to transport people.

Up to this day, this SACCO operates in the sector offices building. Its management plan to work with its members so as to build its own offices.

Eric Muvara

 

About the author

Fabrice Ndaka is a Working Partner and Contributor to RwandaEye. A post-graduate from Oxford University (Said Business School), he is a financial consultant. Fabrice also contributes articles to Financial Magazines in Europe and Africa.

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