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Boniface
Boniface is married with seven children, ages 6 to 25. He has been a maize farmer for 25 years. He would like a loan to purchase fertilizers, seeds and pesticides to grow his crop. He will use this Kiva loan to pay for labor costs and fertilizer for maize production. He needs to buy fertilizer in order to increase his production. He wishes to invest the profits from his farming in his business, so that he can acquire machines and tractors that will enhance his farming capacity in the future.

The agriculture sector accounts for 37% of Rwanda's gross domestic product, generates 65% of Rwanda's export revenue, and employs approximately 90% of Rwandans (as of 2009). Despite the importance of agriculture to Rwandans and their economy, financial institutions view lending to fund agricultural activities as a high-risk proposition because the profitability of these activities is affected by weather, natural disasters, and price fluctuations. For this reason, farmers in Rwanda remain underserved by financial institutions. Urwego Opportunity Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.

Additional Information

About Urwego Opportunity Bank of Rwanda (UOB)

Urwego Opportunity Bank (UOB) is a Rwandan bank specializing in microfinance. It offers credit products to individuals and groups interested in starting or expanding their businesses. It also offers training in business development, financial literacy and health management. Given that approximately 90% of the Rwandan population is directly or indirectly related to the agricultural sector, Kiva lenders’ funds will be used to support UOB’s agricultural loan products, which are vital to the clients living in remote areas.

About Rwanda

  • $1,700
    Average annual income
  • 36
    View loans »
    Rwanda Loans Fundraising
  • $14,314,275
    Funds lent in using Kiva
  • 594.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Boniface to buy more fertilizers, seeds, and pesticides to grow his crop.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Oct 26, 2011
Listed
Nov 17, 2011
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2012