AB BANK, RWANDA: MUTEMBEREZI ALEXANDRE, 38 years of age, a resident of Rusororo Sector in Kigali area in Rwanda, is a bricks manufacturer. He is single, and currently lives with his mother and other family members. His brick production plant is located near his home. He started the business in 2007 together with a friend from a savings of RWF 260k (or 270 euros). He was able to save this money from his former employment where he used to earn a daily wage of RWF 2,000 per day (or 2 euros per day).
He first heard about AB Bank Rwanda (ABR) from other ABR clients. Some people in his community heard that he is looking at growing his business but that he needed more capital. Due to the testimonies of other ABR clients in his community, he approached the bank to apply for a loan. He heard that ABR’s loan application turnaround time is relatively shorter. He received his first loan in AB Bank Rwanda in February 2015, amounting to RWF 3,900,000 (or 3,900 euros). He invested all the money in the business. He received his second loan amounting to RWF 5,500,000 (or 5,500 euros) in June 2016. With the second loan, he was able to increase his daily production of the bricks. And the third loan amounting to RWF 9,000,000 (or 9,000 euros) helped him to expand his business and be more competitive in the market.
He has maintained his relationship with the bank throughout the past years. He is now serving his fourth loan amounting to RWF 16,000,000 (or 16,000 euros). In addition to growth of his business, he was able to build a house with an investment of RWF 20,000,000 (or 20,000 euros). He is now a stable businessman and plans to get married very soon.
Source: AB Bank Rwanda, https://www.abbank.rw/