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Partner Description:

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. Additionally, it offers training in business development, financial literacy and health management to its clients.

Formed in 2007 in a merger between Urwego Community Bank and Opportunity International Bank, this institution seeks to be a premier, sustainable financial firm achieving significant economic, social and spiritual impact in underprivileged areas in Rwanda.

UOB reaches its clients through 36 outlets, branches and credit offices scattered throughout the country. 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 clients living in remote areas.

A unique lending approach

As of September 2012, UOB has impacted more than 42,000 clients bringing, its total loan portfolio to $16 million. About 90% of its credit clients are women and 75% live in rural areas.

The institution offers different types of loans, including community loans, solidarity group loans, micro business loans, agriculture loans, motorcycles loans and more -- all geared toward helping people improve their lives. For example, motorcycles are one of the most convenient and affordable modes of transportation in Rwanda, and motorcycle loans help local drivers do business and make money for their families.

Additionally, UOB seeks to promote a savings culture in Rwanda by offering several savings accounts to its customers. Today, over 192,000 clients are taking advantage of the bank’s savings accounts, with more than $10 million in total savings. Some of the most popular savings accounts include the Teganya Savings Accounts designed to help micro-entrepreneurs and poor families through microsavings, and the Children’s Savings Accounts which helps parents save money for education, clothing and other necessities.

Urwego provides comprehensive training services to its microfinance clients in business management, household financial management and health management. The courses include modules on how clients can manage money, increase their profits, network and share business knowledge, prevent the spread of HIV/AIDS and more.



Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 10, 2010 Oct 12, 2005
Total Loans $9,312,250 $722,417,625
Amount of raised Inactive loans $0 $319,575
Number of raised Inactive loans 0 229
Amount of Paying Back Loans $2,712,200 $134,745,600
Number of Paying Back Loans 1,266 155,198
Amount of Ended Loans $6,600,050 $587,352,450
Number of Ended Loans 6,816 728,203
Delinquency Rate 6.51% 8.48%
Amount in Arrears $145,323 $7,454,188
Outstanding Portfolio $2,230,888 $87,886,361
Number of Loans Delinquent 273 28,809
Default Rate 0.06% 1.17%
Amount of Ended Loans Defaulted $3,877 $6,852,990
Amount of Ended Loans $6,600,050 $587,352,450
Number of Ended Loans Defaulted 5 19,792
Currency Exchange Loss Rate 0.00% 0.27%
Amount of Currency Exchange Loss $3 $1,945,073
Refund Rate 0.36% 0.68%
Amount of Refunded Loans $33,525 $4,905,575
Number of Refunded Loans 50 5,418

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 67.51% 74.41%
Average Loan Size $482 $416
Average Individual Loan Size $873 $653
Average Group Loan Size $5,107 $1,848
Average number of borrowers per group 22.2 8
Average GDP per capita (PPP) in local country $1,700 $5,937
Average Loan Size / GDP per capita (PPP) 28.38% 7.01%
Average Time to Fund a Loan 4.9 days 6.39 days
Average Dollars Raised Per Day Per Loan $98.49 $65.16
  Average Loan Term 5.6 months 10.78 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 822 355,288
  Journaling Rate 10.65% 41.31%
  Average Number of Comments Per Journal 0.00 0.06
  Average Number of Recommendations Per Journal 0.01 1.56

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 42% PY 31.00% PY 31.66% PY
  Profitability (return on assets) -1.4% -3.2% -1.81%
  Average Loan Size (% of per capita income) 57.00% 81.00% 19.39%

Country Fast Facts

Field Partner Staff

Peace Bureshyo
Jessica Igoma
Jessica Igoma
Emmanuel Mugandura
Germaine Mukamusana
Adelin Ngenzi
Rosemary Nyinawumuntu
Faustin Zihiga

Kiva Fellow(s)

Kathryn Yaros