• Mon. Jun 24th, 2024

Savings and loan groups allow their members to develop themselves


Jul 14, 2021

KAYANZA July 14th (ABP) – Savings and loan groups allow their members to develop themselves especially when they form federations of associations. These are the testimonies of members of the federation called Birashoboka, one of the 15 federations of groups located in Kabarore commune of Kayanza province (northern Burundi). They indicate that thanks to the federations of savings and loan groups of which they are now members, they are reaching a satisfactory step in terms of self-development in the fields of the economy and housing, the members of that cooperative told a check in Kayanza by ABP during an interview.

According to the leader of the Birashoboka federation, Mr. Polycarpe Hakizimana, that federation of eight groups was founded with an initial capital of 260,000 BIF where each member had to pay a share of 10,000 BIF. The federation now has a capital of around 3,300,000 BIF, he said. As for the members of that federation of savings and loan groups, they testified that they have already noticed the difference between savings and loan groups working separately and federations of groups. Members of savings and loan groups take out minimal loans while loans are granted to members of federations taking into account the projects to be run, they explained.

Béatrice Nshimirimana, member of the Birashoboka federation, said she bought a coffee orchard for 150,000 BIF after joining this federation. “I’ve already paid off that whole loan and the orchard is mine now,” she said.

Alice Niyukuri, also a member of the federation, said that she was struggling to find the means to tile her house and that she took out a loan of 300,000 BIF from the Birashoboka federation to have decent housing. Other members who extol the benefits of federations of groupings are numerous in the same commune of Kabarore.

As an illustration, Daniel Ntezicimpa took out a loan of 200,000 BIF for a total of 450,000 BIF and bought a cow which allows him to easily have manure. On her part, Daphrose Ciza clarified that she had never touched 100,000 BIF in her hands before joining the cooperative but that she can now have this sum whenever needed.

In the Jene zone of the Kabarore commune, there are 15 federations of savings and loan groups and are supervised by the Dukore 2 project working in the farming sector thanks to the support of the Union of Baptist Churches of Burundi.

Note that in his trips to the communes of Gahombo and Kabarore last week, the governor of Kayanza province, Colonel Rémy Cishahayo, asked the inhabitants of Kayanza to join cooperatives and associations because, according to him, Unity is strength.