COPEDU Plc nets Rwf 1.4 billion in 2019, grows capital by 22%

By IGIHE
On 8 December 2020 at 09:33

COPEDU PLC, one of Rwanda’s microfinance institutions has reported Rwf 1.475 billion profit in the year 2019 representing 50% increase compared to the growth of previous year. The latter saw the bank earning Rwf 979 million profits after tax.

The figures were revealed yesterday in shareholder’s general meeting which indicated net capital growth by 22% bringing it to Rwf4.4 billion.

The increase in profits was largely attributed to different loans especially injected into women’s projects.

Loans offered last year increased by 18% reaching Rwf 15 billion.

The chairperson of COPEDU Plc Board Committee, Gashumba Liliane expressed delight over the growth evidencing the company’s unrelenting commitment to support women-led businesses.

She stressed that the bank eyes to take the lead in promoting women in Africa.

“We have strong ambitions to make COPEDU Plc, a leading and strong bank promoting women in Africa to the extent that others will learn from our experience,” said Gashumba.

Mukarugambwa Ntwali Anne Marie hailed the contribution of COPEDU Plc to the development of women in Rwanda.

“COPEDU Plc has enabled women’s progress. They have been able to realize their ambitions, contributed to the growth of their families and the country. This is what makes the progress of COPEDU Plc possible,” she noted.

Created in 1997, COPEDU PLC has gradually grown and introduced new payments or withdraws methods using Debit Card and depositing or withdrawing using ‘Push and Pull’ System. The institutions works with Business Development Fund (BDF) to provide loans to targeted customers.

The Rwf 1.4 billion profit was announced during shareholders' meeting.
The chairperson of COPEDU Plc Board Committee, Gashumba Liliane expressed delight over the growth evidencing the company’s unrelenting commitment to support women-led businesses.

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