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FIT for FINANCE – YOUTH TRAINING in RWANDA Module 2 Getting Familiar with the Existing Finance Options

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FIT for FINANCE – YOUTH TRAINING in RWANDA Module 2 Getting Familiar with the Existing Finance Options FIT FOR FINANCE – YOUTH TRAINING IN RWANDA Module 2 Getting familiar with the existing finance options Online training - Thursday 20th May with the financial support of Welcome to Training - II Your trainers today: Ross T. Nathan (+250 788381600) [email protected] [email protected] Olawale, Rotimi Opeyemi [email protected] Please contact Rotimi for any technical problems you may encounter during the webinar either in the chat or write into our WhatsApp group. RN House rules Support ! Mute Audio Support: Keep your mobile in silence mode Raise your hand, if you want to speak Seek help if you have issues connecting Use zoom chat to communicate privately Message if you have a question to ask. Message if you need to leave for short break RN Overview of the Learning Webinar Series • Guiding youth to assess and improve on their own financial th Module 1 status. – 13 May’2021 • Getting familiar with the variety of products and services that Module 2 financial institutions offer in Rwanda • Receiving guidance to aid your decision-making abilities when Module 3 choosing the adequate finance solution for themselves. • Business formalization Module 4 RN Module 2: Getting familiar with the existing finance options Go to menti.com or join via the link in the chat to share your views. What is one thing you learned in the previous session? https://www.menti.com/bz7jnvweji RN Module 2: Getting familiar with the existing finance options Recap: 1st session you learnt the following topics Basics of financial Assessing your Financial goals knowledge financial status quo Money management What is needed to & qualify for funding Savings Module 2: Getting familiar with the existing finance options Agri-business contribution to Rwanda GDP Agriculture contributes about 30% of Gross Domestic Product Providing livelihoods for over 70% of the population But the agriculture sector receives only 6% of loan products and services, according to central bank data. Module 2: Getting familiar with the existing finance options In this Session II- we will learn the following topics 1. Rwanda Financial Sector overview and products available 2. Financial Jargon’s used by Financial Institutions 3. Digital Financial services overview 4. Funding options and their Pro and cons. 5. Risk Management and Insurance 6. The 5C’s of Credit . What the Financial Institutions look for, in you Module 2: Getting familiar with the existing finance options Go to menti.com or join via the link in the chat to share your views. https://www.menti.com/bz7jnvweji Name some the Financial Service Provides (FSPs) in Rwanda? RO Module 2: Getting familiar with the existing finance options Rwanda Financial Sector 600 Regulated Financial Institutions 11 Commercial banks, Rwanda also has Business 3 Microfinance banks, Development Fund (BDF), BRD which provides Guarantee funds, 1 Development bank Grants and has dedicated window 1 Cooperative bank for Agri Enterprises. 19 Micro Finance Institutions ( Limited Liability) 6 Lending-only institutions You need to choose the 416 Umurenge SACCOs; right financial 22 Non-Umurenge SACCOs Institution to approach based on your need, 14 Insurance companies institutions your capacity and 13 Pension schemes ( 12 private) Business 94 foreign currency dealers and remittance co Module 2: Getting familiar with the existing finance options Microfinance Limited Companies and MF Banks Rwanda Name of Microfinance Institution Contact Persons email ids 1 Asa microfinance Jamilur Rahman Chowdhury [email protected] 2 Brac Tapan KUMAR Karmaker [email protected] 3 Amifa Charles KAYUMBA [email protected] 4 Amasezerano CB PLC Froduald MUNYANKIKO [email protected] 5 Caf-isonga ltd MUHIRE Gerome [email protected] 6 INKINGI micro finance PLC MUKAMISHA Bernadette [email protected] 7 Rim ltd GATERA N, Damien [email protected] 8 Vision finance company ltd Grace DUSHIMIMANA [email protected] 9 Goshen finance plc Ignace MUSANGAMFURA [email protected] 10 Sager ganza (ex swoft)plc Julien MAFUTALA [email protected] 11 Letshego rwanda plc Ben Muketha [email protected] 12 Umutanguha finance PLC NDAHAYO Jules Théoneste [email protected] 13 Copedu plc Raissa MUYANGO [email protected] 14 Duterimbere IMF plc NZASINGIZIMANA Dative [email protected] 15 CLECAM EJOHEZA ltd DUSABUMUREMYI Merchias [email protected] 16 Inkunga finance PLC NSENGIMANA Claudien 17 Cmf-umulimo BIGIRIMANA Elie [email protected] 18 Axon tunga microfinance SIBOBUGINGO Simeon [email protected] II. MICROFINANCE BANKS 1 Unguka Bank plc KAGISHIRO Justin [email protected] 2 Urwego Opportunity Bank plc Christine BAINGANA [email protected] 3 AB BANK Arah SADAVA Module 2: Getting familiar with the existing finance options Commercial Banks Rwanda Sl no Name of Bank Name SME dept Email id 1 Access Bank Rwanda Umuhoza Natacha Sandrine [email protected] 2 Bank of Kigali (BK) Jean Pierre Iyamuremye [email protected] 3 I&M Bank Delphine Mushashi [email protected] 4 BPR Atlas Mara Gilbert Rukundo, [email protected] 5 Ecobank China Fauzia [email protected] 6 Equity Bank Denis Kayumba [email protected] 7 GT Bank Gatanazi Joel [email protected] 8 Kenya Commercial Bank Jean Claude Kabananiye [email protected] 9 Cogebanque Polepole Kayumba [email protected] 10 Bank of Africa Darius Mukunzi [email protected] 11 Zigama CSS 12 Development Bank of Rwanda 13 NCBA Bank Rwanda PLC Module 2: Getting familiar with the existing finance options Savings products available in Rwanda Individual Fixed Term Time Deposits Mobile Savings Savings Deposits account • Fixed sum for a pre- account determined term and rate of • Regular deposits of fixed interest • Voluntary timing and amounts over a pre-determined • Requires a minimum deposit period of time. • Offered by MTN and AIRTEL amount of deposits • Inflexible • Client can decide how much to • Have started to pay interest • Pays a higher interest rate • Flexible withdrawals save for how long.-Penalty is on deposits (although sometimes clients paid for early withdrawal than either a passbook or fixed term for the same • Flexible but very tempting need to give 3 or 4days • Interest is usually higher than on to use for wants than needs notice for withdrawal) passbook savings amount of savings • Can borrow against your savings • Not many financial • Usually earns interest institutions offer this product Module 2: Getting familiar with the existing finance options Brainstorming Session Name some loan products you know? And Name a FSP which offers this loan ? R0 Module 2: Getting familiar with the existing finance options Loan products available in Rwanda Consumption Individual small loan/ Personal Home loans Group loans business loans Loans/Salary /Mortgage loans loans Agriculture loans /Farming Vehicle loans MSME /SME loans Leasing /Horticulture/live stock Equipment /Asset Overdraft /working School Loan loans capital Check websites : Eg. https://www.mftransparency.org/microfinance-pricing/rwanda/012-Urwego/ Module 2: Getting familiar with the existing finance options BK Bank Agriculture Loans AGRICULTURAL LOANS We like to work with farmers who are organized in groups such as local cooperatives as it is easier to support them with capacity building. BK provides finance • Production • Processing • And distribution ventures. For all Agriculture Value Chains Module 2: Getting familiar with the existing finance options Equity Bank Agriculture loans ( April 2021 News) • Zamuka Muhinzi Agri products also include • The products include the commercial agriculture working capital agriculture commercial trade loan finance facilities covering • The minimum loan amount is Rwf10,000, while the maximum loan invoice discounting, contract is Rwf 3.5 billion. financing and purchase order • The loan term is between two months and 36 months depending on the nature and cycle of the business. financing. • “Igire Muhinzi”. The loan size starts from • Asset based finance, this product is commercial agriculture Rwf500,000 to Rwf3.5 billion. investment loans . • Loans range from Rwf5 million to Rwf3.5 billion. The minimum repayment period is • the loan term is between 12 and 60 months for movable be one month while the maximum assets, and 10 years for immovable assets. repayment period shall be 6 months. Module 2: Getting familiar with the existing finance options Unguka Bank Products to Agri businesses Product Description Eligibility Criteria • Be an Unguka Bank Ltd customer with 2 months relationship period. • UB facilitates the Irish potatoes farmers • For group lending-Individual accounts and group (Group of borrowers; Individuals; account for beneficiaries will be required. Farming related cooperatives) by • Be involved in the potato farming. offering them a special product called • Owning land used for farming or authorization "IKUNGAHAZE MUHINZI". for using it. • Identification documents (ID/Passport). • Loan application and justification of repayment • This agriculture loan is payable in season capacity. period. • Material Security and interpersonal guarantee for group borrowers. • Optional weather risk insurance cover. • Mandatory customer life insurance cover. Module 2: Getting familiar with the existing finance options Umutangwa Products to Agri businesses AGRICULTURAL LOANS UFC Plc offers agricultural loans structured on agriculture value chain components. Where we have 4 products in agriculture sector: • Farm Production Loan • Post-Harvest Loan
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