Urwego Opportunity Bank of Rwanda Ltd. (UOB) is a licensed microfinance bank headquartered in Kigali, Rwanda. UOB was created as a result of a merger in July 2007 between Urwego Community Banking, SA (Urwego), and Opportunity International Bank of Rwanda, SA (OIBR). Urwego was a leading microfinance institution (MFI) in Rwanda founded by World Relief Rwanda in 1997, and from 2004 had been operating as an independent and regulated MFI in Rwanda with a nationwide presence.
OIBR was established by Opportunity International. Opportunity is an international microfinance network dedicated to the development of transformational commercial microfinance banks in developing countries around the world. Opportunity is a pioneer in the microfinance industry with over 40 years of experience and has established microfinance institutions in more than 20 countries throughout Africa, Latin America, Asia, and Easter Europe.
UOB’s vision is to be a financially sustainable microfinance bank, with a nation-wide outreach and a significant holistic impact on each of our customers’ lives.
Currently, UOB has more than 235 employees with an operational presence in all 30 districts of Rwanda. UOB has 8 deposit-taking branches, with four located in the capital of Kigali. We are proud to serve more than 120,000 clients with microloans and savings products. UOB plans to continue expanding its product offerings and branch locations to better serve the economically-active poor in Rwanda with financial services and related training.
*All numbers and figures as of December 30, 2011
Since 1997 Urwego Opportunity Bank (UOB) has been serving Rwandans who are economically-active but whose banking needs are underserved. As a Christian microfinance bank, UOB seeks to provide opportunities for those in poverty to transform their lives, not only economically, but socially and spiritually.
We offer a full range of deposit and savings accounts that provide a safe means for storing savings and earning interest. Savings accounts allow our clients to participate in investment opportunities, insure against hard times, and pay for expenses of life events such as weddings and funerals. Our loan products include traditional group loans through our Trust Group/Community Banking Group lending model, individual Micro-Business Loans, Micro-Consumer loans, and other flexible loan products.
Holistic Life Improvement (HLI) modules provide a unique service of giving specific advice to promote client transformation. The modules cover three broad areas: Business Management, Household Financial Management, and Health Management.
We are also providing microinsurance for mitigating life risk and affordable remittances.
The Five Components of Our Microfinance:
1. Credit: Loans for microenterprises and consumers so they can achieve economic transformation.
2. Savings: Deposit products for microenterprises and consumers so they can safely save their money and have convenient access to cash when needed.
3. Insurance Services: For microenterprises and consumers so they can secure protection against unexpected tragedies, natural disasters, and/or crop failures.
4. Remittance Services: Affordable channels so microenterprises and consumers can send and receive funds.
5. Education/Training: On-going education/training for microenterprises and consumers so they can achieve social and spiritual transformation.
Produits & Services :
Urwego Opportunity Bank (UOB) is honored to offer our products to Rwanda’s under-served. Over 97,000* clients utilize our loans, business training, savings accounts (totaling more than $5.4 million in total deposits), and other services. 88% of our clients are women who started with a first loan averaging just over $100. Our loan portfolio of over $8.7 million is dedicated to promoting small businesses and other opportunities that will improve our clients’ lives.