• Mon. Apr 22nd, 2024

The head of ANACOOP urges cooperatives to have a vision


Mar 7, 2024

NGOZI March 5th (ABP) – More than 298 Sangwe hill cooperatives have received credits from the Burundian State, via the National Communal Investment Fund, FONIC.

According to the head of the National Agency for the Promotion and Regulation of Cooperative Societies, Michel Nsengiyumva, more than 60% of those cooperatives are operating normally and have recorded gains. He gave the example of cooperatives which received a loan of 20 million and which register more than 100 million, including the goods they own. Mr. Nsengiyumva also spoke of the advantages and great experiences drawn from cooperatives by members and which they will put into practice at home. He did not fail to point out the good social cohesion, solidarity and good understanding that reign between the members of the cooperatives.

Mr. Nsengiyumva, however, noted a number of cooperatives which have not made much progress. They are estimated at around 30%. Those are mainly cooperatives which register goods with a value lower than the value of the credit they received. The cause remains poor management by those in charge, climatic hazards, pandemics, etc. For maximum success, Mr. Nsengiyumva urges cooperatives to have a vision of development and to undertake profitable projects of importance to the country.

For failing cooperatives, Michel Nsengiyumva advised them to change activities. Those who raise pigs can, for example, raise goats which are very resistant.