BUJUMBURA, February 23rd (ABP) – The President of the Republic of Burundi, Mr. Evariste Ndayishimiye, inaugurated on Thursday, February 22, 2024, in Bujumbura city, the building housing the head office of the Savings and loan Cooperative for the development of soldiers (CECADM), a check on the site by ABP has revealed.
In his remarks, President Ndayishimiye commended the initiative of the defense forces who thought of establishing their own savings cooperative. He also congratulated everyone for their contribution.
The Head of State also called on the defense forces to move forward and think of other projects aimed at the development of the country.
Taking the floor, the Minister of National Defense and Veterans Affairs, Mr. Alain Tribert Mutabazi, indicated that this CECADM building was erected without any debt incurred.
Minister Mutabazi indicated that the ministry in charge of National Defense is committed to always supporting CECADM in all development work of the country. He said he was satisfied with the creation of CECAM, whose projects fit into the government’s vision of “Burundi, an emerging country in 2040 and developed in 2060.
For his part, the Director General of CECADM, Lt Col Jean Marie Iradukunda, pointed out that CECADM is an association of natural and legal persons, which was created to help its members escape the vicious circle of poverty.
According to him, the target members of the CECADM are military personnel (active or retired) and their spouses, military associations, military entities, and veterans with limited access to traditional financial institutions.
With the mission of providing financial and non-financial services to members, CECADM has future prospects, namely the multiplication of selling points, the modernization of payment methods and the capacity building among the staff and members of the CECADM, the Director General of the CECADM insisted.
Note that CECADM aims to be a long-term reference cooperative aimed at the well-being of members with a view to contributing to the socio-economic development of the country, reassured Lt. Col. Iradukunda.
It was specified that CECADM, which started in 2007 with a total of 3 billion BIF, currently has total assets of more than 150 billion BIF.