A loan of $1,325 helped to buy more fertilizers for use during rice production.


Alphonse's story

Alphonse is 28 years old. He is married with three children and they all go to school. With the loan, Alphonse would like to request a Kiva loan to buy more fertilizers for use during rice production. The profits from the business will be used to reinvest in the growing of more rice for the better returns and more future opportunities. 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.



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Loan details