Total loan: $8,375

Umugisha Agric Group

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, , Rwanda / Agriculture

Umugisha Agric Group's loan finished fundraising,
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A loan helped to buy more fertilizers used for rice-growing.

Umugisha Agric Group's story

Umugisha is a group represented by Samuel, a 50-year-old father of six children between the ages of 5 and 30. He is a farmer and has been selling fertilizers for the past 35 years. Samuel'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.