Microfinance to look at harnessing professionalism

Microfinance to look at harnessing professionalism

As the  microfinance day closes  in,  professionalism  is  the  main focus  in a bid to  bolster  the sector  needed to boost  the  financial  access mainly by rural folks. Peter  Rwema, acting   executive secretary   of  Association of Microfinance Institutions in Rwanda-AMIR  believes says that   day will help  in   highlighting the performance  of the sector in terms of professionalism  as well  as  best  practices to  ease  service delivery. “This is the time we  access  ourselves  on  how  far we have gone  in promoting  inclusive  c micro finance based on  best practices,”  he said The day Running  under the theme; Promoting inclusive micro- FINANCE with professionalism in Rwanda” is slated for   7th May   will  up  the sector’s  professionalism…

Experts root for competitiveness in microfinance Institutions

Experts root for competitiveness in microfinance Institutions

Experts’ believe thatincreased competiveness within the microfinanceInstitutions-MFIs will improve the   sector’s abilityto bank the rural folks, thus increase   financial inclusion. Rita Ngarambe, Executive Director, AMIR consult Ltd says that   helping MFIs  sector to boost its competitiveness and provide customer orientedproductsthat will result into a strong   and vibrant sector that is able to finance rural   growth. “Competition should pave way for better services and increased access to financial    services by people mainly those in rural areas,” she noted Ngarambe believes that    when    microfinance institutions look at   embracing competition and   become innovative to bring out   customer centered services, access to finance by the unbanked population   will be easier. The MFIs   that  are in  microfinance sector   also composed …

Eco Bank records Rwf518.4m profit

Eco Bank records Rwf518.4m profit

Eco bank Rwanda that was recently on spotlight for closure of some branches in the busy areas of Kigali city after hitting a record loss in 2013 has reported a Rwf 518.4 percent   profit after tax for the year 2014. The   Bank in a bid to stem off high expenditures that were accrued from operational inefficiency and optimizing  operations  that mainly  pushed the  bank into  a Rwf563.1 million loss in 2013,closed   branches in the  busy areas of  Kimironko, Remera and Nyabugogo in Kigali  city. The closure  led to suspicions  that the bank    may  likely be winding up its operations  in Rwanda after  failing to penetrate the rural  market  that  is  composed of  organized  credit savings-Saccos…

ZIGAMA CSS envisage de réduire le taux d’intérêts des crédits bancaires

ZIGAMA CSS envisage de réduire le taux d’intérêts des crédits bancaires

Lors de la une réunion du  Conseil d’Administration de ZIGAMA Credit and Savings Society (ZIGAMA CSS), une institution financière appartenant à l’armée (RDF) et al la police (RNP), il a été décidé de revoir à la baisse le taux d’intérêts des crédits bancaires. Comme l’a déclaré le Dr James Ndahiro qui préside le Conseil d’Administration de ZIGAMA CSS, « les crédits bancaires étaient remboursés avec un taux d’intérêts de  15%. Malgré que ce taux soit réduit, ils n’ont pas encore décidé le pourcentage de cette réduction. Le conseil d’administration a pris la décision  de diminuer le taux d’intérêts des crédits bancaires par ce que nos membres sont parmi les travailleurs qui ont de maigres salaires ». Dr…

Ruhango: Ntimukwiye gutinya imishinga iramba, amafaranga arahari- Umuyobozi wa BK

Ruhango: Ntimukwiye gutinya imishinga iramba, amafaranga arahari- Umuyobozi wa BK

  Umuyobozi wa banki ya Kigali BK ku rwego rw’igihugu Gatera James, aratinyura abanyaruhango abashishikariza gutekereza ku mishinga migari iramba, kuko amafaranga ahari banki ahagarariye ikaba yiteguye kuyabaha nta mananiza. Mu ruzinduko yagiriye mu karere ka Ruhango tariki ya 27/03/2015, rugamije gusura abakiriya ba BK, uyu muyobozi yababwiye ko banki ahagarariye, ifite intego zo guteza imbere buri munyanrwanda wese ufite ingamba zo gukira. Akaba yasabye cyane cyane abacuruzi bakorera mu mujyi wa Ruhango, kwishyirahamwe, bagatekereza ku mishanga migari, bityo bakagana iyi banki ikabaha amafaranga bagashora mu bikorwa byabo. Bamwe mu bacuruzi bakorera muri uyu mujyi wa Ruhango, bagaragaje ko nta kibazo bafite cyo kwishyira hamwe, gusa bakagaragaza imbogamizi z’ingwate. Aha umuyobozi wa BK, akaba yabavuze…

Nyarusange: SACCO Dukire yarabatinyuye inabafasha gukoresha neza inguzanyo

SACCO Dukire yarabatinyuye inabafasha gukoresha neza inguzanyo

Bamwe mu baturage batuye umurenge wa Nyarusange mu karere ka Muhanga baravuga ko baguye imishinga bakarema n’indi nyuma yo gukorana na sacco yo mu murenge wabo ikabatinyura inguzanyo n’uburyo bunoze bwo kuzikoresha. Byatumye kuri ubu boroza abaturanyi babo  inka biguriye bagamije kudasigana mu iterambe n’ubukire baharanira. Mbere benshi muribo ngo bari ba nyamwigendaho, bakaba baraje guhindura imyumvire nkaho batangiye kwizigamira byatumye banakora imishinga yongera ibyo bari bafite nkuko bivugwa na Alphonse Habanineza wakoreraga leta akaza kugana Sacco Dukire ikamufasha gushora mu bikorwa by’ubuhinzi bw’urutoki n’ubworozi bw’inka. Kuri ubu uyu mugabo yatangiye koroza abantu baturanye myiza bivuye mu gukorana na Sacoo Dukire Nyarusange. Gukorana n’iyi Sacco kandi byatumye Leonille Mukakalisa afungura iduka riciriritse no kurihira umwana…

Banking sector buoyant as net profit rise by 54 percent

3

The banking sector remained   profitable in 2014 recording a net profit increasing by 54.3%, a positive outlook that   provides optimism for a better performance this year. The sector  that  dominates the   financial sector  is looked at to   boost  access to credit  by  private sector to  drive  economic growth needed to  push the  country  to  middle income   by 2020. Central Bank  statistics indicate that  the  sector’s  net profit  after tax for the industry rose to Rwf34.94 billion December 2014    up from   rwf22.64 billion  in the same period in 2013 while its Return on assets  (ROA) and return on equity (ROE) stood at 1.9% and 10.8% respectively. “From stability and robustness perspective, the sector is sound and…

Nyabihu: Rural banks urged to priorities loans to farmers

3

Angela Mukaminani, the vice mayor for finance and economic development of Nyabihu district has called on rural banks to give priority to farmers in their loan allocations to assist small farmers acquire loans to invest in agriculture. She made the appeal on Feb, 17, in a meeting with farmers and financial institutions that operate in the district. She required banks and related financial institutions to grant more loans to agriculture-related sectors, saying the current credit supply for the countryside remains insufficient and that it is hard for farmers to access bank loans. She indicated that majority of farmers were located in the rural areas where rural banks operated, and as such there was the need…

Nyabihu: Inzego z’ibigo by’imari n’amakoperative zirasabwa ubufatanye

Amakoperative arahamagarirwa gukorana n’ibigo by’imari kandi izi mpande zombi zikarangwa n’ubufatanye mu rwego rw’iterambere.

  Ibi bikaba byagarutsweho na Mukaminani Angela,umuyobozi w’akarere ka Nyabihu wungirije ushinzwe iterambere ry’ubukungu n’imari,mu nama ya “Access to finance” yahuje ibigo by’imari n’amakoperative,kuri uyu wa 17 Gashyantare 2015 mu karere ka Nyabihu. Bamwe mu bibumbiye mu makoperative y’ubuhinzi n’ubworozi,ari nayo akunze kuboneka mu karere ka Nyabihu,usanga bavuga ko usanga bigorana ko amwe mu mabanki yakorana nabo akabaha inguzanyo z’ubuhinzi. Musana Paul,umwe mu bayobozi b’imwe mu makoperative akorera mu karere ka Nyabihu,avuga ko iyo amakoperative y’ubuhinzi akoranye neza n’ibigo by’imari kandi nabyo bikayorohereza mu mikoranire,bikayaha inguzanyo ku gihe usanga bagera ku iterambere rirambye. Aboneraho gushimira ibigo by’imari bigira uruhare rufatika mu gukorana n’amakoperative y’abahinzi harimo Banki ya Kigali avuga ko ashima cyane bitewe n’uruhare yagize…

Rwanda’s trade Deficit continues to widen

10

  The country’s  trade deficit  continued to worsen  in  2014  widening by  7.5 percent, despite a  positive outlook  the economy  registered in the  same  period under review, the Central Bank   has  indicated. The bank  through  its monetary policy and financial stability  statement  for February  2015, showed  the deficit expanding   to USD 1,799.54 million by end of December    last year up from 1,674.38 million 2013 driven by   increased import receipts. Accordingly, formal imports value increased to USD 2,399.3 million representing   6.8% while  volumes   increased by  3.7%, mainly driven by   consumer goods (+4.9%), while  energy and lubricants (+3.4%),   capital goods increased  by 3.0%, while  intermediary goods recorded (+2.9%). The  Central bank says that the  rise in import…