Urwego Opportunity Bank (Urwego) is a microfinance bank in Rwanda which is one of the commercial banks licensed by the National Bank of Rwanda, the national banking regulator. It was founded in 1997 as a purely Microfinance Institution (MFI) that was mostly popular among women at the time, Urwego Opportunity Bank is definitely Rwanda’s bank for all
History
Urwego Bank was established in July 2007 as a result of a merger between Urwego Community Banking SA (Urwego) and Opportunity International Bank of Rwanda SA (OIBR). Urwego was founded by World Relief Rwanda in 1997 and it was a leading microfinance institution (MFI) in Rwanda. Since 2004 Urwego had been operating as an independent and regulated MFI in the country with branches in Kigali and in the provinces. OIBR was established by Opportunity International, an international microfinance network dedicated to the development of transformational, commercial microfinance banks in developing countries.
Overview
The bank is a licensed microfinance bank which is operated along Christian principles with services aimed at improving the economic, social and spiritual conditions of the communities that the bank serves. The bank focuses on serving Rwandese who are economically active but under banked. Services offered by Urwego include deposit accounts, savings accounts, individual loans, Trust Group Loans, village phone loans, home improvement loans, bicycle loans and school tuition loans. The bank also offers insurance services, business training and HIV/AIDS training.
Ownership
According to the bank’s website, the following corporate entities are shareholders in the bank.
Urwego Opportunity Bank Stock Ownership
Rank Name of Owner Percentage Ownership
- Hope International 99%
- World relief 1%
TOTAL 100%
Urwego Bank Branches
Following results of April 2016, Urwego has eighteen fully functioning branches of which seven of them including the bank’s headquarters are located in the city of Kigali, Rwanda’s capital. The other eleven full-service branches are located in the provinces. In addition to this, the bank has twenty-five other credit offices in various Rwandan districts. The full-service branches of the bank are located in the following locations:
Main Branch – KN 5 Remera (Umuyenzi Plaza Kisementi), Airport road, Kigali
Kimironko Branch – Kimironko, Kigali Kimironko KG 2 ST, Kigali
Nyarugenge Branch – Nyarugenge Plot 1230, Avenue de la Paix, Kigali
Kicukiro Branch – Kicukiro KK 494 ST, Kigali
Nyabugogo Branch – Kigali
Kigali City Market- Nyarugenge
Gisozi Branch – KG 697 Samantha house, Kigali
Muhanga Branch – Muhanga Plot 188, Muhanga District
Rwamagana Branch – Rwamagana District
Bugesera Branch – Bugesera District
Musanze District – Musanze District
Nyamata Branch- Bugesera plaza, airport Road, Bugesera District
HUYE Branch- Huye Market, Ground Floor, Huye District
Musanze Branch- Musanze district
Gicumbi Branch- Gicumbi District
Ngoma branch- Ngoma District
Rubavu branch- Rubavu District
Rusizi branch – Rusizi District