The General Assembly of Zigama Credit and Savings Society (Zigama-CSS) convened on 6 May 2016 at Ministry of Defence Headquarter, Kimihurura. The Assembly was officially opened by Hon Minister of Defence, General James Kabarebe, in the presence of the Minister of internal security, Hon Sheikh Mussa Fazil Harerimana among other officials.
In his opening remarks, General Kabarebe commended the progress made by Zigama CSS during the financial year 2015 with a net profit of more than 5.2 billion Rwandan francs. The Minister of Defence recalled further that Zigama CSS Cooperative should remain focused on its core mission, which is the improvement of members’ welfare.
After the meeting, the Chairperson of CSS Board of Directors, Dr James Ndahiro revealed to the Media that the meeting aimed at presenting to Zigama CSS Members the financial statement of the last year (2015). He disclosed that the Cooperative achieved a net profit of 5.2 billion Rwandan francs in 2015 compared to 4 billion of the net profit realised in 2014, which represents an increase of 23%.
He also highlighted that Zigama CSS remains committed to keep on primarily striving for the general welfare of its members.It is in this context that General Assembly directed the Management to conduct a feasibility study on how the interest rate for small loans may be reduced from the current 13% to 12.5 or 12%.
Zigama CSS is ranked the 2nd higher tax paying among the country’s financial institutions. The cooperative was established in 1997 by Rwanda Defence Force.As of today Zigama CSS has attracted members of other Security Organs, including Rwanda National Police, National Intelligence and Security Service, as well as the Rwanda Correctional Service.
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