Urwego Bank
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Status Update — December 15, 2015
Kiva recently re-assessed the level of risk associated with loans from this Lending Partner. During this process, our analysts gathered updated operational and financial information about the institution, spoke with key members of the staff and analyzed the Lending Partner’s loan products. As a result, UOB's risk rating is now listed as 2.5 stars instead of 3.5 stars. The primary reasons for this change in rating are increased delinquency, MIS weaknesses and Kiva policy compliance issues. Kiva and UOB are working closely to improve upon all 3 of these areas in the future.
Status Update — December 8, 2015
Urwego Opportunity Bank (UOB) has recently been experiencing higher levels of delinquencies with their Kiva loan portfolio. This increase is due in part to a high number of their agricultural loans falling behind, which is the result of delays in payment from buyers, as well as climate change issues resulting in a delay in harvest. In addition, UOB has seen an increase in group loan delinquencies, often caused by one member falling being behind on repayment. While groups may become delinquent, most groups manage to pay off their loan in full by the end of the loan term. The Kiva team continues to remain in contact with staff at UOB in an effort to help monitor this delinquency and determine any necessary actions going forward. We will provide additional relevant information to lenders as it becomes available.
Partner Description:
Urwego Bank, a partner of HOPE International and World Relief, helps underserved Rwandans by providing clients with the necessary credit and savings capabilities required for economic transformation. Insurance, remittance services, foreign exchange services and mobile banking are all offered by Urwego. To complement these offerings, Urwego provides clients with training in business development, financial literacy and health management. It offers these financial and training services to individuals and groups interested in starting or expanding their businesses.
A unique lending approach:
Urwego uses its 30 locations to successfully target all demographics, focusing primarily on women, farmers and rural populations. The institution offers different types of loans, including community loans, solidarity group loans, micro business loans, agriculture loans, education loans and more -- all geared toward helping people improve their lives. Through these methods Urwego seeks to restore basic quality of life to underprivileged individuals as well as restore relationships with the community, self, God and the rest of creation. Urwego’s primary loan product is the community/trust bank loan. This loan product leverages social collateral since most group members have little to no collateral. Group members typically operate small businesses and help one another investigate and execute new business ideas.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Jun 10, 2010 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $50,492,765 | $2,042,136,830 | |
Amount of raised Inactive loans | $0 | $356,500 | |
Number of raised Inactive loans | 0 | 209 | |
Amount of Paying Back Loans | $1,525,150 | $157,764,155 | |
Number of Paying Back Loans | 308 | 189,647 | |
Amount of Ended Loans | $48,967,615 | $1,843,227,680 | |
Number of Ended Loans | 16,063 | 2,482,067 | |
Delinquency Rate | 9.32% | 12.57% | |
Amount in Arrears | $86,405 | $12,137,711 | |
Outstanding Portfolio | $592,563 | $96,544,828 | |
Number of Loans Delinquent | 195 | 65,899 | |
Default Rate | 0.47% | 1.82% | |
Amount of Ended Loans Defaulted | $229,192 | $33,582,045 | |
Number of Ended Loans Defaulted | 366 | 88,667 | |
Currency Exchange Loss Rate | 0.38% | 0.47% | |
Amount of Currency Exchange Loss | $221,362 | $12,608,670 | |
Refund Rate | 0.09% | 0.54% | |
Amount of Refunded Loans | $45,475 | $10,935,995 | |
Number of Refunded Loans | 52 | 9,668 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 69.05% | 78.46% | |
---|---|---|---|
Average Loan Size | $273 | $393 | |
Average Individual Loan Size | $951 | $586 | |
Average Group Loan Size | $5,164 | $1,910 | |
Average number of borrowers per group | 21.4 | 8.3 | |
Average GDP per capita (PPP) in local country | $1,700 | $5,594 | |
Average Loan Size / GDP per capita (PPP) | 16.05% | 7.02% | |
Average Time to Fund a Loan | 10.13 days | 9.11 days | |
Average Dollars Raised Per Day Per Loan | $26.92 | $43.11 | |
Average Loan Term | 5.62 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 5,755 | 1,216,330 | |
---|---|---|---|
Journaling Rate | 34.63% | 41.89% | |
Average Number of Comments Per Journal | 0.00 | 0.02 | |
Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2016 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 31% PY | 31.00% PY | 26.44% PY | |
---|---|---|---|---|
Profitability (return on assets) | 1.12% | -3.2% | -1.32% | |
Average Loan Size (% of per capita income) | N/A | 81.00% | 0.00% |
Country Fast Facts
- Country:
- Rwanda
- Capital:
- Kigali
- Official Language:
- Kinyarwanda only (official) 93.2%, Kinyarwanda and other language(s) 6.2%, French (official) and other language(s) 0.1%, English (official) and other language(s) 0.1%, Swahili 0.02%, other 0.03%, unspecified 0.3%
- Population:
- 12,337,138
- Avg Annual Income:
- $1,700
- Labor Force:
- agriculture: 90%, industry and services: 10%
- Population Below Poverty Line:
- 44.90%
- Literacy Rate:
- 70.50%
- Infant Mortality Rate (per 1000):
- 59.59 deaths
- Life Expectancy:
- N/A years
Lending Partner Staff
Bernard AdarkwahKarera Delphine
Odette Igirimbabazi
NDAYISHIMIYE Jean Claude
Nii Korley Corquaye
RUDASINGWA Michel
Enock Mutangana
Jimmy RUTABINGWA
Gideon RWIGAMBA
Emily Sell
Julienne Uwamahoro