Jeanne is a rice farmer who is a widow with four children. She has been a farmer for the past nine years, and she learned rice farming from her parents.
She will use her Kiva loan to cover labor costs during rice production: nursery, transplanting, field management, guarding from birds, and then in harvesting activities.
With profits from her farming she wishes to invest in her business so that in the future she can acquire machines and tractors that will enhance her farming capacity.
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.
About Urwego Opportunity Bank of Rwanda (UOB)
Urwego Opportunity Bank (UOB) helps underserved Rwandans by providing its clients with the necessary credit and savings capabilities required for economic transformation. It offers credit products, including group and individual loans, as well as training in business development, financial literacy and health management. UOB loan products leverage social collateral since most group members have little to no collateral.