ZIGAMA CSS SET TO RECORD A RWF 35.7 BILLION NET PROFIT IN 2023

Kigali, 15 December 2023

ZIGAMA CSS General Assembly members convened today at RDF Headquarters, Kimihurura where it was announced that the cooperative will record a net profit of 35.7 Billion Rwandan Francs for the year 2023. It is an increase from 22.8 Billion recorded as net profit in 2022.

The 39th General Assembly was chaired by Honourable Minister of Defence, Juvenal Marizamunda and attended by the Minister of Internal Security, Hon Alfred Gasana, RDF Army Chief of Staff, Maj Gen Vincent Nyakarundi, Air Force Chief of Staff, Lt Gen JJ Mupenzi and heads of security organs; and selected members.

Zigama CSS Vice Chairman of the Board of Directors, Col Callixte Kalisa said that  until September this year, Zigama CSS had recorded a profit of Rwf21.4 billion, but by December this year, the bank’s profit will get to Rwf35.7 billion.

“The rise in profits during the final quarter of 2023 can be attributed to the recent sale of the cooperative's  building in Nyarugenge district and the adoption of new accounting principles in which banks now calculate profit after providing loans to clients”, said Col Kalisa.

Looking ahead to the next year, Col Kalisa expressed the cooperative's commitment to enhancing service delivery, announcing the upcoming launch of a 24/7 call center within a month to facilitate easy access to information for its members.

ZIGAMA CSS is a financial cooperative with membership drawn mainly from Security Organs namely Rwanda Defence Force, Rwanda National police, Rwanda Correctional Services, National Intelligence and Security Service and Rwanda Investigation Bureau.