La Fenacobu (Faitière nationale des coopecs du Burundi) officially opened a new service point at the Kabuyenge center and hill, located in the Ndemeka zone of Gisuru commune, Buhumuza province, on Friday, September 25, 2026. This expansion aims to enhance financial access for residents in the rural area. The new facility represents a strategic step by Fenacobu to extend its cooperative banking services directly to the local community in Kabuyenge, facilitating easier transactions and promoting local economic development. The establishment of the service point is expected to serve a significant number of people who previously had limited access to formal financial institutions. This initiative shows Fenacobu's commitment to fostering economic empowerment in underserved regions, bringing essential financial tools closer to the population.
Bridging the Distance Gap
Before the establishment of the new Fenacobu service point, residents of Kabuyenge faced significant challenges in accessing banking services. Locals previously had to travel nearly thirty kilometers to reach the Gisuru service point for their financial operations. This considerable distance created substantial obstacles for community members seeking to manage their finances, including accessing credit, making deposits, or performing other essential banking activities. The lack of nearby financial infrastructure meant that many residents were excluded from formal financial systems.
The long journey to Gisuru resulted in a loss of time for residents who needed to conduct banking transactions, time that could otherwise be spent on productive economic activities or family responsibilities. Additionally, the necessity of transporting cash over such distances exposed users to various risks, including theft and loss, which deterred many from engaging with formal banking. The new Fenacobu facility in Kabuyenge aims to mitigate these issues by providing a closer and safer option for financial services, reducing both travel time and the dangers associated with carrying money. This direct access is anticipated to foster greater financial security and convenience for the local populace.
Fenacobu's National Reach
Fenacobu's network currently includes twenty-three Coopecs, operating through 192 service points and agencies across Burundi. The cooperative banking institution serves a broad base of over one million members nationwide, noting its extensive footprint and impact on the Burundian economy. This widespread presence enables Fenacobu to reach diverse communities, from urban centers to remote rural areas. Customer savings within the Fenacobu network have surpassed 600 billion Burundian francs, reflecting its significant presence in the country's financial sector and demonstrating the trust placed in the institution by its members. These substantial savings show Fenacobu's role as a key player in mobilizing domestic capital for national development.
Call for Financial Inclusion
Mr. Télésphore Ndayishimiye, the Director General of Fenacobu, issued an appeal for increased financial inclusion. He encouraged residents to participate in financial services through savings and the domiciliation of salaries at Coopec, emphasizing the benefits of formal financial planning. Mr. Ndayishimiye also stressed the importance of granting credits to facilitate self-development initiatives within the community, enabling individuals and small businesses to invest in their future. This call aligns with Fenacobu's broader strategy to expand access to formal financial mechanisms in rural areas like Kabuyenge, promoting economic empowerment and stability for individuals and local enterprises. The institution aims to provide accessible financial tools that support personal and community growth, thereby contributing to broader socio-economic progress.
Local Impact and Future Vision
Kabuyenge is considered an important commercial hub due to its strategic proximity to the Burundian-Tanzanian border. This location is expected to facilitate trade and economic activities, potentially benefiting significantly from Fenacobu's expanded services by providing essential financial infrastructure for cross-border commerce and local entrepreneurship. Fenacobu's initiative aligns with the national vision, which aims for Burundi to become an emerging economy by 2040 and a developed nation by 2060. The expansion of financial access in rural areas like Kabuyenge is seen as a contributing factor to achieving these long-term national development goals, fostering sustainable growth and improving the quality of life for its citizens.