Umwalimu SACCO’s assets soar to 239 billion Rwf

Elias Hakizimana Mar 29, 2025 0 Comments

By The Inspirer

Kigali, Rwanda – Umwalimu SACCO, the cooperative savings and credit organization for teachers, has reported significant financial growth, with total assets reaching 239 billion RWF in 2024, marking a 22% increase from 196 billion RWF in 2023.

The financial report, unveiled during the General Assembly on March 28, 2025, highlighted a robust net profit of 14.7 billion RWF after tax, compared to 11.8 billion RWF in 2023, reflecting a 24% rise. The cooperative’s total profit, including taxes, stood at 20.5 billion RWF, up from 16.9 billion RWF the previous year.

Loan disbursement on the rise

Umwalimu SACCO expanded its loan services significantly, issuing 203 billion RWF in loans in 2024, a 21% increase from 168 billion RWF in 2023. Director general Laurence Uwambaje attributed this growth to an efficient loan repayment system, noting that overdue payments remained below 1% as members prioritized timely repayments.

“Our members demonstrate strong financial discipline. Since their salaries pass through Umwalimu SACCO, we ensure seamless loan recoveries,” said Uwambaje.

Director general Laurence Uwambaje highlights Umwalimu SACCO’s 21% growth in loan disbursements, reaching 203 billion RWF in 2024, driven by efficient loan repayment and strong financial discipline among members.

The cooperative is investing in digital transformation to enhance member services. As part of these efforts, new digital financial solutions were launched during the General Assembly, including:

Smart Cash Card – A payment card for purchases and transactions.
eKash – A digital money transfer platform compatible with MTN Mobile Money, Airtel Money, and all major banks at lower fees.
Business Credit Line – A financial service for entrepreneurs needing quick access to funds for stock purchases or operational costs.
Western Union Integration – Allowing members to send and receive international money transfers directly via Umwalimu SACCO.

Encouraging savings among educators

Education sector employees continue to play a key role in Umwalimu SACCO’s financial stability. In 2023, 9 billion RWF was collected from school-based contributions, while over 8 billion RWF was recorded in 2024.

With 160,000 active members, including 5,000 new members in 2024, Umwalimu SACCO remains a cornerstone of financial empowerment for educators across Rwanda. The cooperative’s ongoing expansion and innovation efforts are set to further enhance accessibility and financial inclusion for its members.