Muganga SACCO, held its 4th General Assembly on April 5th, 2023, at Lemigo Hotel starting from 9:00 am. The general assembly was attended by delegates from all health facilities, the Ministry of Health, and its affiliated institutions.
The main highlight of the assembly was the showcase of Muganga SACCO’s innovative digital banking services, which included internet banking, a mobile app, and an upgraded USSD platform. The SACCO also introduced a new quick loan facility that will provide members with instant access to cash, with funds disbursed within a few minutes of approval.
While the new services are not yet operational, Muganga SACCO representatives provided a detailed overview of how the services would work and what benefits members can expect to receive. The digital banking services and the quick loan will be operational by the end of quarter two 2023, giving members a faster, more convenient, and more secure way to access their accounts and manage their finances.
The SACCO also provided an overview of its Board’s report for the year 2022, highlighting the significant milestones and achievements that have enabled Muganga SACCO to become a leading financial service provider for health professionals. The SACCO’s milestones and achievements for the year 2022 include the license granted by the National Bank of Rwanda, granted membership in interbank transactions known as RIPPS, the establishment of the head office and main branch (1st floor of the Silverback Mall), and the channeling of members’ salaries through the SACCO instantly.
As of 2022, Muganga SACCO had a total asset of Rwf 6,054,328,546. The SACCO aims to double its membership in 2023 and cement digitization as a core institutional value that will depend heavily on digital banking.
“Our new digital banking services and quick loan that shall be operational at the end of quarter two 2023, are a testament to our commitment to providing our members with innovative and convenient financial solutions. We understand the importance of staying connected with our members and providing them with seamless digital experiences, which is why we have invested in these state-of-the-art platforms,” said the Director General.
The General Assembly provided an opportunity for delegates to share insights and experiences, network, and make vital decisions that will impact Muganga SACCO’s future. The SACCO remains committed to providing relevant financial solutions that will improve its members’ livelihoods and enhance their financial well-being.
