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Theogene
Theogene is 36 years old. He has requested a Kiva loan to pay for warehouse construction. This is a new loan product for UOB. This loan will help in the construction of a warehouse or storage area for the maize products that are waiting for their harvest to be bought by the buyers. This constructed infrastructure will help the entire community to have secure storage of their products in the future.

UOB’s farmer clients are benefiting from the production financing which is significantly protecting their yield or production, because during the post-harvest processes farmers suffer poorness as they have to wait for the buyer to pay them. This Kiva Loan will play a big role as a bridge for solving their primary day to day needs during the period.

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

More information about this loan


This loan is part of Urwego Opportunity Bank's program targeting farmers who are members of cooperatives. All borrowers benefiting from these loans receive financing, as well as seed and fertilizer from the Rwandan government. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. The loan is also covered by insurance in case of crop failure. 
 

Without flexible, risk-tolerant capital provided by lenders like you, Urwego Opportunity Bank would not be able to offer this type of loan. This is critical in Rwanda where 85% of the population is employed in agriculture, but many formal financial institutions consider the sector to be too risky to invest. By funding this loan, you are expanding opportunity to farmers with limited options.

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

  • $1,000
    Average annual income
  • 23
    View loans »
    Rwanda Loans Fundraising
  • $11,741,025
    Funds lent in using Kiva
  • 675.1
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,850 helped Theogene to pay for warehouse/storage construction for maize products.
100% repaid
Repayment Term
3 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
May 4, 2014
Listed
Jun 7, 2014
Currency Exchange Loss:
Possible
Ended:
Aug 23, 2014