NMI has signed a USD 2.5 million loan agreement with AB Bank Rwanda (ABR), a fully-fledged microfinance bank. ABR is a young (founded 2014) and strongly socially responsible microfinance bank with about 25,000 client accounts.
"We are happy to enter into the agreement with ABR, an ambitious microfinance institution with high social focus. This agreement also means a new country, Rwanda, is added among the NMI investments," says Arthur Sletteberg, NMI’s Managing Director.
"AB Bank will use this loan to increase access to financing for Rwanda’s smallest businesses. It will provide possibilities for AB Bank to expand its activities in Kigali, the capital city, as well as in rural areas. With the opening of 2 new credit offices of the bank this year, we see this loan impacting both our urban and rural clients," says Arah Sadava, ABR’s Managing Director.
ABR is a part of the AccessHolding Network, with 1.5 million microfinance clients in ten countries. NMI was advised by Kigali based Gahigiro Capital.
Picture: ABR clients in Kigali.