Members of the savings and credit co-operative societies (SACCOS) in Rukwa Region have a total capital of over 1.8bn/- as at the end of December, last year.
This was revealed by the Rukwa Regional Administrative Secretary (RAS), Mr Salum Chima recently, at the 25th Rukwa Regional Consultative Committee (RCC) meeting. He said there are 90 cooperative societies and 79 Saccos with 10,938 members in the region.
The RAS said the members have shares worth 288.6m/-, over 1.55bn/- bank deposits and over 5.6bn/- loans that are owed by its members.
He said last year, members repaid about 4.8bn/-, equivalent to 72.2 per cent of the loan. Despite such success, cooperatives in the region face several challenges which have hindered its growth. He listed the challenges as unwillingness for the people to set up more cooperative entities.
Source Tanzania Daily News
