Access to Finance Rwanda in Partnership with the Government of Rwanda through the Rwanda Cooperative Agency (RCA) is undertaking the automation of all 416 Umurenge SACCOs as one of the key solutions to address the numerous managerial and operational issues. The initiative is aimed at supporting the SACCOs to manage their growth, and increase their ability to operate efficiently and effectively. The broader aim being consolidation to form the Cooperative Bank. In addition Umurenge-SACCO staff will receive training on the usage of the installed system. The overall goal of the project is to develop sustainable financial institutions which will serve low income people and consequently improve their livelihoods through reduced vulnerability to socio-economic shocks, increased incomes and employment creation.
The 2-year project is designed to automate 416 Umurenge (Sector) SACCOS and train 2,496 staff, an intervention that will lead to 150,000 new clients, 50% decrease of fraud and embezzlement cases, 20% increase of SACCO savings and 20% increase in profitability.