On the initiative of the National Police personnel of Burundi and with the support of command, a cooperative savings and credit company called Microfinance of the National Police of Burundi MICROPOL was established. MICROPOL is a third-category microfinance institution. The Bank of the Republic of Burundi approved the police microfinance on July 27 of this year.

The chairman of the board of directors, André Ndayambaje, states that the microfinance of the National Police of Burundi has the mission of strengthening the economic and social power of members by supporting their economic activities through accessible and adapted financial and non-financial services close to their needs. The microfinance also aims at promoting member solidarity, collecting savings and other resources, providing financial and non-financial services, promoting financial, civic and cooperative education, promoting financial inclusion; technical and financial support.

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André Ndayambaje, chairman of the board of directors, indicated that the idea of creating the microfinance of the National Police of Burundi was born on May 25, 2021 during a general assembly of the self-starting council for the microfinance of the National Police of Burundi personnel. Before that, there were various events that showed how microfinance works. Although these ideas to create microfinance were launched by former Minister of Interior, Community Development and Public Security Alain Guillaume Bunyoni, from the fifth of May of last year, microfinance institutions were elected and continued to prepare the establishment of this microfinance. And they adopted the laws that govern it and the microfinance facilities were renovated and staff was put in place and trained.

He announces that MICROPOL members are composed of police personnel, their spouses, members of the microfinance staff, entities of the National Police of Burundi, associations of police officers and or their spouses and retired police officers. And he adds that on the date of official opening of the activities of the microfinance of the National Police of Burundi, 19,030 members had already released their membership share contributions.

Future prospects

Lieutenant General of Police André Ndayambaje, chairman of the board of directors, states that in accordance with its vision, MICROPOL aims to serve as a microfinance institution progressively covering the entire national territory. Branches and counters will then be opened in regional, provincial and municipal police precincts.

He further indicates that with prior authorization from the Bank of the Republic of Burundi, the Microfinance of the National Police of Burundi will diversify its offerings through the following operations or services: the sale of insurance products to its members, on behalf of regular insurance companies, and the subscription of insurance products for the benefit of members, on an individual or collective basis, the issuance and or management of payment instruments and any other operation or service connected recognized by the Central Bank.

Following the availability of long-term resources, the microfinance of the National Police to carry out lease and real estate credit operations. In the near future, the microfinance of the National Police is preparing to exercise, in compliance with regulations on the matter, mobile banking activities in order to facilitate access to its services to the various members scattered across the national territory.

Alain Guillaume Bonyoni states that this microfinance will participate in the development of the country. He invites police officers to open accounts and increase the capital of the microfinance. He reminds MICROPOL members to plan projects before taking out loans. According to him, in past years, there have been people who requested loans without projects.

This day of the opening of the microfinance of the National Police is closed by activities of opening accounts of its members. Prime Minister Alain Guillaume Bunyoni and Gervais Ndirakobuca, Minister of Interior, Community Development and Public Security are among the high authorities of the country who opened accounts.

Pacifique Gahama