FOREWORD FROM THE CHAIRMAN

Umwalimu SACCO marked its ninth anniversary on June 26, 2015. For the past nine years, the Teachers’ Savings and Credit Cooperative(SACCO), an initiative of His Excellence the President of the Republic of Rwanda, Paul Kagame, has dignified the lives of Teachers through innovative and affordable financial services which cannot be found in any other financial institution in Rwanda.

Created for the Rwandan Teachers mandated to empower them towards uplifting of their social and economic welfare and to contribute to socio-economic development of the community in which they live, Umwalimu SACCO has started to become a solution to the Rwandan Teachers.

Umwalimu SACCO has evolved over time and its impact is enormous. The SACCO has been able to bring together teachers to work towards improving their welfare and it has decentralized its services to serve all of its members in all the 30 districts of Rwanda.

The Cooperative has expanded its services closer to the members by partnering with 416 Umurenge SACCOs in regard to money transfer services using modern technologies in the pursuit to increase the member’s access to diverse financial services. The SACCO currently has over 88,701 members.

Currently, Umwalimu SACCO has a teacher representative at the sector, cell level and at the school center. This representation at the grassroots level helps to strengthen oversight of the SACCO’s operations.

At a macro level, Umwalimu SACCO is made up of a single market segment (Rwandan teachers). However, at a micro-level, Umwalimu SACCO’s members are mainly divided into those in public and private schools; and those in primary and secondary schools.

Umwalimu SACCO has the General Delegates Assembly as the Cooperative’s supreme organ (of 416 members; One teacher per sector) which convenes thrice a year unless otherwise.

The General Delegates Assembly lays the Cooperative’s strategic direction and oversight through a duly elected Board of Directors of five members (One board member per Province and District) and the Supervisory committee composed of three members.

The Board of Directors hires a professional management team headed by the Managing Director supported by departmental heads. This team is responsible for the day-to-day running of the SACCO.

As a financial institution, Umwalimu SACCO fully complies with the Central Bank’s regulations and the Rwanda Cooperative Agency because it is a Cooperative.

As we celebrate the 9th Anniversary, I invite you to read our journey as it is carefully documented in this Profile Magazine. I wish you a happy reading!

Jean-Marie Vianney NZAGAHIMANA

BOARD CHAIRMAN