Over 100 youth loaned motorcycles worth over Rwf229 million with 18-months recovery period

By Elina Jonas Ruzindaza
On 1 September 2020 at 03:53

Unemployed members of the 26 motorcyclists’ cooperatives in Kigali City on Monday, August 31, 2020, were given over 104 motorcycles worth over Rwf229 million where they will use them and pay the loan within 18 months.

The motorcycles were donated by Spare Motors and Sound, which represents Yamaha’s operations in Rwanda, with no collateral or advance payments. All of this is aimed at removing motorists from unemployment so that they too can become entrepreneurs.

The head of the Federation of Motorcyclists in Rwanda (Ferwacotamo), Daniel Ngarambe, said that the motorcycles are going to be given to unemployed motorcyclists through their cooperatives, which will enable them to care for their families and also to develop themselves.

The motorcycles were sourced as loans to motorcycle cooperatives. The recipient is not required to provide any other collateral because the cooperative in question is the one who signs it ’certifying that he or she is a qualified and honest member.’

Ngarambe said the ownership and responsible driving will strengthen read safety.

"These motorcycles meet all the requirements; GPS, meter, they are registered and trusted. ”

Murenzi Donatien, CEO of Spare Motors and Sound, said that the City of Kigali usually has 43 motorcycle cooperatives, but today the participants were 26 cooperatives who received 104 motorcycles worth Rwf229 million to be paid within 18 months.

"We want people who are willing to work, especially since they are strong young people, and we want them to use that energy to build the country instead of using it for other reasons," he said.

One of the recipients of the motorcycle, Dushimirimana Aime Polycarpe, said they were happy to receive the new motorcycle and they believe that they will benefit from them.

“I’m happy because I didn’t have a job, the fact that I got a job that’s a big thing for me,” he said.

“What is even more gratifying is that our cooperatives are becoming more and more mindful of their members. The fact that they think of unemployed members and find one for them, these things have never happened in the past. It shows the positive steps we are taking and we are more than happy with it”.

The agreement stipulates that the investor will continue to monitor and maintain these motorcycles until the contract expires. A person who buys it individually is worth one million and Rwf600,000 including all the requirements.

The motorcycles were given to these motorcyclists with all the necessary documents
Motorists expect a lot of interest from these motorcycles
This time 104 motorcycles were donated to 26 cooperatives