East African Business Week

Editor--Rwanda is increasing supervision for the newly created Savings and Credit Co-operatives (SACCOs) at the sector level (Umurenge) which is expected to increase efficiency and transparency of the SACCOs.
This is something that could increase trust among majority Rwandans who deal with the SACCOs and Microfinance Institutions (MFIs).
The International Monetary Fund (IMF) had cautioned Rwanda not to allow new SACCOs to lend out money when the Central Bank was not well equipped to monitor the SACCOs operations.
With supervision in place, the perceived risk is reduced and people can save with SACCOs without fear to lose their money. Supervision     combined with skills will be a catalyst for increasing savings something that will also increase investments.