Didas is married, with three children, aged between 6 and 12; all three children attend schools. He is a maize farmer, and so is his wife. Didas has been a maize farmer for 22 years. He would like to get this loan to buy more seeds and seed multipliers and hire support labor to get the best harvest. With the profits, he wants to build a house.
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.
About Urwego Opportunity Bank of Rwanda (UOB)
Urwego Opportunity Bank (UOB) helps underserved Rwandans by providing its clients with the necessary credit and savings capabilities required for eonomic transformation. It offers credit products, including group and individual loans, as well as training in business development, financial literacy and health management. UOB loan products leverage social collateral since most group members have little to no collateral.