Urwego Bank (Urwego) is a Christ-centered

Microfinance bank Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

Rwanda Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...

. It is licensed by the

National Bank of Rwanda The National Bank of Rwanda ( rw, Banki Nkuru Y'u Rwanda, french: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964. The current governor of the bank is John Rwangombwa. Location It is quartered at the N ...

, the national banking regulator.

History

Founded in 1997 by

World Relief World Relief (officially, World Relief Corporation of National Association of Evangelicals) is an Evangelical Christian humanitarian nongovernmental organization, the humanitarian arm of the National Association of Evangelicals and a leading refuge ...

as Urwego Community Banking, the bank joined the

HOPE International Hope is an optimistic state of mind that is based on an expectation of positive outcomes with respect to events and circumstances in one's life or the world at large. As a verb, its definitions include: "expect with confidence" and "to cherish ...

network in 2005. In 2007, the bank merged with Opportunity International Bank of Rwanda to become Urwego Opportunity Bank. With the approval of the

Opportunity International Opportunity International is a 501(c)(3) nonprofit organization that is working to end global poverty by creating and sustaining jobs. Through a network of 47 program and support partners, Opportunity provides small business loans, savings, insur ...

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%.

Overview

Urwego Bank is a licensed, Christian faith-based

microfinance bank Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

. 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 underserved communities in Rwanda as we proclaim and live the Gospel of Jesus Christ.” Urwego seeks to reach Rwandans who are economically active but underserved by licensed banking institutions. It offers a full range of financial services, including loans and savings programs, as well as training to maximize the impact of financial products and empower clients for success in business, household management, and health. Throughout its history, Urwego Bank has distributed nearly $290 million in loans.

Ownership

According to the bank's website, the following corporate entities are shareholders.

Branch network

, Urwego Bank had 15 full-service branches, seven of which, including the bank's headquarters, are located in the city of

Kigali Kigali () is the Capital (political), capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali has been Rwa ...

's capital. In addition, Urwego had 15 ATM locations across the country.ATM locations
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References

External links