100%

funded

Total loan: $6,875

Muvumba Ii Sub Grp A Group

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, , Rwanda / Agriculture

Muvumba Ii Sub Grp A Group's loan finished fundraising,
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A loan helped to pay workers who weed his rice fields.


Muvumba Ii Sub Grp A Group's story

Muvumba Ii Sub Grp A is a group represented by Alex, who is 48 years old. He is married and has six children between 3 and 12 years old, all of whom go to school. He is a farmer and he has been growing rice for the past 3 years, while his wife is a businesswoman. With the loan from Kiva, he would like to pay the workers who weed his rice fields. The profits from the business will be used to for his children's school fees and 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.