Credit Unions and SACCOs are nothing new to Rwanda where diverse small SACCOs and “Banque Populaire du Rwanda” (BPR), the most important credit union, have operated for many years.
However despite a long history behind, SACCOs coverage remain very limited, withonly 3% of the population saving with all MFIs in general, SACCOs included.
To address this issue analyzed as a major factor hindering economic development, a recent National Dialogue Meeting held in December 2008 recommended the creation of at least one SACCO at the level of each Administrative Sector (UMURENGE).
In line with this a task force composed of representatives from diverse Governmentinstitutions, especially from MINECOFIN, MINICOM, MINALOC, and BNR was formed and was assigned to propose a strategy to implement this policy directive. The strategy proposed in this document is in line with the National Micro Finance Policy, the National Microfinance Policy Implementation Strategy, and the recently validated National Savings Mobilization Strategy
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