This new loan complements the initial Frw 20 billion agreement signed between BRD and Umwalimu SACCO in early 2023, bringing the total amount injected into the program to Rwf 50 billion. Initially, the program aimed to benefit approximately 1,900 teachers, but due to high demand, over 5,000 teachers have already received housing loans under 'Gira Iwawe.'
Gaspard Hakizimana, Chairperson of Umwalimu SACCO's Board of Directors, emphasized that the additional Rwf 30 billion will significantly improve teachers' ability to access home loans.
'This loan will continue to boost the Gira Iwawe initiative and enable more of our members to secure permanent housing without struggle,' Hakizimana said.
He expressed deep appreciation to BRD for increasing the loan amount, noting the positive impact of the previous funding and the responsible use of the initial Frw 20 billion.
'We are pleased with the strong partnership with BRD, which allows us to continue providing Gira Iwawe loans to our members. It is a major step in improving the well-being of Rwandan teachers," he noted.
Umwalimu SACCO now counts over 160,000 members, with around 5,000 new members joining in 2024 alone, all serving in various capacities within Rwanda's education sector.
The members of Umwalimu SACCO who attended the meeting discussed the future of the cooperative.
The Chairman of the Board of Umwalimu SACCO, Gaspard Hakizimana, stated that the 30 billion Rwandan Franc loan granted by BRD will continue to help members acquire homes.
IGIHE
