Total loan: $5,875

Muvumba Iv Sub Grp B Group

Flag of Rwanda
, , Rwanda / Agriculture

Muvumba Iv Sub Grp B Group's loan finished fundraising,
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A loan helped to pay workers who are weeding rice.

Muvumba Iv Sub Grp B Group's story

Muvumba IV sub grp B is a group represented by Augustin who is 52 years old. He is married and has 8 children aged between 4 and 22 years. They all go to school. He is a farmer and he has been growing rice for the past 20 years, while his wife is a businesswoman. With the loan from Kiva, he would like to pay workers who are weeding rice. The profits from the business will be used to pay the school fees of his children and to pay for medical insurance.

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 under-served 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.