 | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 1997 |
| Headquarters | Kigali, Rwanda |
Key people | Christine Baingana, Chief Executive Officer [1] |
| Products | Loans, individual loans, group loans, savings, investments |
| Total assets | 19,649,524,000 RWF ($22,352,200.03 USD) in 2018 [2] |
| Website | http://www.urwegobank.com |
Urwego Bank (Urwego) is a Christ-centered Microfinance bank in Rwanda. It is licensed by the National Bank of Rwanda, the national banking regulator. [3]
Founded in 1997 by World Relief as Urwego Community Banking, the bank joined the HOPE International network in 2005. In 2007, the bank merged with Opportunity International Bank of Rwanda to become Urwego Opportunity Bank.
With the approval of the National Bank of Rwanda, Opportunity International sold its 50% ownership of Urwego to HOPE International in 2017, making HOPE a 99% shareholder in the bank, with World Relief continuing to own 1%. [4]
Urwego Bank is a licensed, Christian faith-based microfinance bank. Drawing upon its name (Urwego is the Kinyarwanda word that translates as “ladder” in English), Urwego's mission statement is, “To provide a ladder of opportunity to under-served communities in Rwanda as we proclaim and live the Gospel of Jesus Christ.” [5]
Urwego purpose for creation is to reach Rwandans who are economically active but under-served by licensed banking institutions, offering financial services, loans and savings programs. [6]
Throughout its history, Urwego Bank has distributed nearly $290 million in loans. [7]
According to the bank's website, the following corporate entities are shareholders. [8]
| Owner | Percentage ownership |
|---|---|
| Hope International | 99% |
| World Relief | 1% |
| Total | 100.00 |
As of July 2019 [update] , Urwego Bank had 15 branches, seven of which, including the bank's headquarters, are located in the city of Kigali, Rwanda's capital. [9] In addition, Urwego had 15 ATM locations across the country. [10]
KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator. The bank has also been running Agency banking model.
Micro financing in Tanzania started in 1995 with SACCOS and NGOs. It has since then contributed to the increasing success of international micro financing. Microfinance stills remains a relatively new in Tanzania since it has not penetrated yet. Since 1995, microfinance has been linked to poverty alleviation programs and women. The government made efforts to ensure commercial banks have continued to provide financial support to the small entrepreneurial business. However a microfinance National Policy was implemented in 2002 to encourage and support microfinances in the country. Since the implementation, micro financing was officially launched and recognized as a poverty alleviation tool. Due to its increase exposure and use in the nation, commercial banks have developed interests in to offer microfinance. There are various microfinance banks that functions as supporting institutions in the country that usually provide microfinance services. These may include the CRDB, National Microfinance Bank, and AKIBA. However there are also other few banks that are concerned with micro financing in Tanzania such as the PRIDE and SEDA, Tanzania Postal Bank and FINCA. Community and small banks have also expressed interest in the same including the NGOs and other non-profit organizations.
Before Uganda's independence in 1962, the main banks in Uganda were Barclays ; Grindlays, Standard Bank and the Bank of Baroda from India. The currency was issued by the East African Currency Board, a London-based body. In 1966, the Bank of Uganda (BoU), which controlled the issue of currency and managed foreign exchange reserves, became the central bank and national banking regulator. The government-owned Uganda Commercial Bank and the Uganda Development Bank were launched in the 1960s. The Uganda Development Bank is a state-owned development finance institution, which channeled loans from international sources into Ugandan enterprises and administered most of the development loans made to Uganda.
Peter Keith Greer is an author, speaker, and president and CEO of HOPE International, a global Christ-centered economic development organization serving throughout Africa, Asia, Latin America, and Eastern Europe. Peter and his wife, Laurel, have four children and live in Lancaster, PA.
Bank of Kigali (BK) is a commercial bank in Rwanda. It is licensed by the National Bank of Rwanda.
Pride Microfinance Limited (PMFL), is a microfinance deposit-taking institution (MDI) in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.
Opportunity Bank Uganda Limited (OBUL), is a commercial bank in Uganda. It received a commercial banking licence from the Bank of Uganda on 25 September 2019.
Compagnie Générale de Banque (Cogebanque), sometimes referred to as Cogebank, is a Rwandan commercial bank. It is one of the commercial banks in the Republic of Rwanda, licensed by National Bank of Rwanda, the national banking regulator.
FINCA Uganda Limited, also known as FINCA Uganda, is a microfinance deposit-accepting institution (MDI) in Uganda. It is licensed and regulated by the Bank of Uganda, the central bank and national banking regulator.
AccessBank Liberia (ABL), is a microfinance commercial bank in Liberia. It is one of the commercial banks licensed by the Central Bank of Liberia, the national banking regulator.
Unguka Bank Plc (UB), commonly known as Unguka Bank, is a microfinance bank in Rwanda. It is one of the banks licensed by the National Bank of Rwanda, the country's banking regulator.
Zigama Credit and Savings Bank (ZCSB), is a microfinance bank in Rwanda. The bank is one of the financial institutions licensed by the National Bank of Rwanda, the national banking regulator.
AB Bank Rwanda (ABR), is a microfinance bank in Rwanda. The bank is one of the licensed banks in the Republic of Rwanda.
Salaam Somali Bank, often abbreviated to SSB, is a Somali commercial bank. It is headquartered in Mogadishu, Somalia. SSB is one of the largest privately owned banks in the country.
Bandhan Bank Ltd. is a banking and financial services company, headquartered in Kolkata. Bandhan Bank is present in 35 out of 36 states and union territories of India, with 6,140 banking outlets and 3.07 crore customers. Having received the universal banking licence from the Reserve Bank of India, Bandhan Bank started operations on August 23, 2015, with 501 branches, 50 ATMs and 2,022 Banking Units (BUs). The Bank has mobilised deposits of ₹1,08,479 crore and its total advances stand at ₹1,03,168 crore as of June 30, 2023.
Kenya Women Microfinance Bank, formerly Kenya Women Finance Trust or KWFT, is a deposit-taking microfinance bank in Kenya, the largest economy in the East African Community.
AB Bank Zambia is a commercial bank in Zambia, licensed by the Bank of Zambia and by the national banking regulator. It is a member of AccessHolding, a banking group which operates a network of commercial banks and microfinance institutions in developing and transition countries with a target group focus on micro, small and medium-sized enterprises.
Yetu Microfinance Bank Plc. (YETU) is a microfinance bank in Tanzania. It is the first microfinance institution to be listed in the Dar es Salaam Stock Exchange. Yetu is a Swahili word meaning Ours.
BRAC Uganda Bank Limited (BUBL), is a credit institution in Uganda. In April 2019, the institution received a Tier II Financial Institution Licence, which authorized it to operate as a bank, supervised by the Bank of Uganda, the national banking regulator.
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