Savings and credit schemes on financial accessibility in Rwanda; a case study of Sacco Wisigara Rangiro in Nyamasheke District
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Date
2014-07
Authors
Journal Title
Journal ISSN
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Publisher
Kampala International University,College of Education Open and Long Distance Learning
Abstract
The study focused on savings, credit schemes and financial accessibility in Rwanda and
it considered primary data. It was guided by the following research objectives; the
importance of small savings and credit schemes to the people of Nyamasheke district,
accessibility of financial services from savings and credit schemes in Nyamasheke
district as well as the relationship between credit schemes and financial accessibility in
Nyamasheke district. The research under took descriptive correlation research design
that largely suits qualitative and quantitative research design.
The findings of the study indicated that savings and credit schemes increased financial
accessibility and improved people’s standards of living. The findings also showed that
Sacco wisigara Rangiro give out loans to its members at low interest rates, financial
advice, favorable credit period and supports small scale projects and industries in
Nyamasheke~
The findings of the study also revealed that Sacco wisigara Rangiro promoted the
creation of employment opportunities and saving culture, agricultural harvests increased
as well as the number of people engaged in the construction industry in Nyamasheke
district.
The researcher recommends that Rwandan government should establish new savings
and credit schemes and also continue to support the already established Saccos such as
Sacco wisigara Rangiro in Nyamasheke district so as to promote more financial
accessibility in Rwanda. The government of Rwanda must also address the problem of money laundering, corruption and must maximize social benefits through massive investment and prudent macroeconomic investment so as to improve and promote financial and credit accessibility in the country.
Description
A research report submitted to the College of Education Open and Long Distance learning in partial fulfillment for the Award of Bachelor’s Degree in Commerce of Kampala International University
Keywords
Savings, Credit scheme, Financial, Accessbility