The Rwanda Cooperative Agency (RCA), a regulatory institution of the Rwandan government, is establishing a cooperative bank to provide “long-term” loans to farmers. Eight thousand cooperatives and their 4 million members have agreed to invest RWF 3 billion (USD 3.6 million) in the bank. In addition, 480 saving and credit cooperatives (SACCOs) and other community-based microfinance institutions in the country have agreed to invest RWF 2 billion (USD 2.4 million). The SACCOs will share branches and technology infrastructure with the new bank.
By Sascha Strobl, Research Associate
Sources and Additional Resources:
Kigali Today news story:
http://ktpress.rw/2017/05/rwanda-revises-saccos-system-to-allow-cooperative-bank-kick-off/
Rwanda Cooperative Agency:
http://www.rca.gov.rw
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