Vivianne is married and has three children between 10 and 18. All are enrolled in school. Her husband is a farmer. He has been a rice farmer for two years.
She would like to get this Kiva loan to buy fertilizers, seeds, and support labor to get the best harvest. With the profits, Vivianne plans to expand the area she has been farming to get more output and pay school fees for the children. In the picture, her fellow rice farmers are sitting behind.
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.