Total loan: $1,425
, , Rwanda / Agriculture
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Boniface's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped To buy fertilisers and support labor costs during maize production.
Boniface is 40 years old. He is married to a farmer and they have both seven children. Five of them go to school. He has been a maize farmer for 20 years. He wants a Kiva loan to buy fertilizers and support labor costs. The profits from the business will be used to pay school fees for the 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 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.