Rwanda Cooperatives Agency (RCA) has urged members of cooperatives to increase their production capacity and savings to be able to widen their investment portfolio.
The call was on Saturday during the celebrations to mark the International Cooperative Day in an event held in Mudende Sector in Rubavu District.
The day, which was marked under the theme: “Sustainable consumption and production,” brought together government officials and cooperative representatives from across the country among others.
The day is usually marked on July 7 but in Rwanda, the celebration was pushed for a week of July as it coincided with activities organised to mark the Liberation Day, according to Jean Bosco Harelimana, the Director General of RCA.
He mentioned that the event is an opportunity to increase awareness on cooperatives, review previous performances of cooperatives and reflect on the way forward ensuring sustainability at the core of their activities.
“Cooperatives have demonstrated capacity to develop their members, and play a significant role in supporting the socio-economic development of the country by alleviating poverty, generating employment among others.
“However, the current the level of productivity is still low. We want them to make new strategic plans to boost their output leading to members’ self-reliance while also keeping enough for the bigger market,” he argued.
According to RCA, Cooperatives have been increasing in numbers from 946 in 2006 to 8,800 to date made by over 3 million members with 45 billion share capital.
On the other hand, the Governor of the Western Province, Alphonse Munyentwali stressed the importance of cooperatives, saying that once properly managed, they have shown the potential of a high multiplier effect, hence uplifting many from poverty in a short time.
He commended those who took the first step to embrace the cooperatives, and are already reaping big from their good business decision.
“We don’t want anyone to miss out on the rewards of working together. Let’s us all join cooperatives. The government will always be there to give any needed assistance to make this sector the best it can be.
He added that proper management is key to cooperatives’ success.
Thus, said the Governor, cooperatives managers should also abide by standard management principles and continuously take any opportunity to upgrade their knowledge.
At this occasion, three best cooperatives namely KOTANOMU Ubumwe cooperative, COFAR, and Umurenge SACCO Seruka were recognized and awarded with trophies.
Read more at: The New Times