Total loan: $1,975
, , Rwanda / Agriculture
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Emmanuel's loan finished fundraising,
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A loan helped to buy more fertilizer for his potatoes.
Emmanuel is 37 years old. He is married with 4 children aged between 5 and 14; 3 of them go to school. He has been farming for 7 years. With the loan for Kiva, he would like to buy more fertilizer for potatoes. The profits from the business will be used on his farming of domestic animals such as cows. 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.