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Copedu Plc nets Rwf2 billion profit

By IGIHE
On 2 août 2022 at 09:34

Copedu Plc, one of Rwanda’s microfinance institutions has reported over Rwf 2 billion profit before tax in the year 2021 and reiterated commitment to continue leveraging its digital channels to offer top notch services to clients.

The figures were revealed during a shareholder’s Annual General Meeting held on 31st July 2022.

The management of Copedu Plc told shareholders that the microfinance institution registered Rwf2.131 billion profit in 2021 representing 36% increase compared to Rwf1.571 billion of 2020.

Among others ; clients’ deposits increased by 15% from Rwf22.613 billion in 2020 to Rwf26,035 billion in 2021.

According to the Managing Director of Copedu Plc, Raïssa Muyango ; the microfinance’s net capital grew by 16% from Rwf29.928 billion to Rwf34.617 billion.

The Vice- Chairperson of the Board of Directors at Copedu Plc, Joseph Ntabwoba said that the steady increase in profits reflects smooth implementation of the company’s vision.

The microfinance has also revamped its Push & Pull services in order to continue satisfying customers.

The general meeting elected Euphrasie Uwase Maneno as the new Chairperson of the Board of Directors replacing Liliane Gashumba.

Established in 1997, Copedu Plc has gradually grown and introduced new payments or withdrawing methods using Debit Card and depositing or withdrawing using ‘Push and Pull’ System.

The shareholders' Annual general Meeting took place on 31st July 2022.
Representatives of shareholders in a group photo after attending the meeting.
The general meeting also elected Euphrasie Uwase Maneno as the new Chairperson of the Board of Directors.
The Vice- Chairperson of the Board of Directors at Copedu Plc, Joseph Ntabwoba said that the steady increase in profits reflects smooth implementation of the company’s vision.
The Managing Director of Copedu Plc, Raïssa Muyango speaking at the event.

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