100%

funded

Total loan: $4,250

Muvumba I Group

, , Rwanda / Agriculture

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A loan helped to buy more fertilizers used for rice growing.


Muvumba I Group's story

Muvumba I is a group represented by Joel, a 39-year-old father of four children between the ages of 5-13 years. He is a farmer and has been growing rice for the past 13 years. Joel's wife is a businesswoman. With the loan from Kiva, he would like to buy more fertilizers used for rice growing. The profits from his business will be used to pay school fees for his children.

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.