Urwego Finance

What Urwego Finance does

Urwego Finance CBC is a privately held microfinance institution headquartered in Kigali, Rwanda, majority-owned by HOPE International (99%) with founding partner World Relief retaining a 1% stake. Operating under a faith-based mission to serve underserved Rwandan communities, Urwego delivers a comprehensive suite of financial services spanning individual and group lending, SME financing, agricultural loans, savings and current accounts, remittances, and digital banking. Its customer base is segmented across individual retail clients, group borrowers (Traditional Community Banking, Zamuka, Advanced Community Banking, Village Savings Groups), small and medium enterprises, agricultural cooperatives and farmers (with crop-specific products for coffee, rice, maize, and Irish potato), corporate and institutional clients, and SACCOs.

The institution's technology stack is built around a mobile-first core: the mHose platform is accessible via USSD on any phone (*501#), through a native app on Google Play and the Apple App Store, and via a dedicated internet banking portal for corporate, MSME, and individual customers. Distribution is anchored by 15+ branches and credit offices, supplemented by 11 sales offices in secondary districts, an mHose agent network for cash-in/cash-out, and remittance partnerships with Western Union, RIA, and MoneyGram. Strategic partnerships with CARE International (Village Savings Group pipeline) and Rwanda Trading Company (coffee value-chain financing) extend reach and embed Urwego into formal economic flows.

Urwego's revenue model combines recurring interest income from its loan portfolio (products ranging from 30,000 FRW to over 500,000,000 RWF), account maintenance and service fees on a family of account products (IKAZE, TEGANYA, GWIZA, NZIGAMIRA, TUZA, SACCO), transaction-based fees for RIPPS and SWIFT transfers, remittance commissions, and usage-based fees for mHose mobile and agent banking transactions. Go-to-market is a hybrid of community-led outreach (agent network, group lending, faith-based mission) and direct sales through branch staff and relationship managers across both urban and rural Rwanda.

Name

Urwego Finance

Legal name

Urwego Finance CBC

Website

https://urwegofinance.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Urwego Finance is a Rwandan microfinance institution majority-owned by HOPE International that delivers group and individual lending, SME and agricultural financing, savings accounts, and mobile/internet banking to underserved communities across Rwanda through 15+ branches, 11 sales offices, agent networks, and the mHose digital platform.

Ownership category

akta.pro rank

Product category

Microfinance

NAICS

Depository Credit Intermediation (5221)

SIC

Finance Services (6199)

akta.pro primary industry

Agricultural & Rural Microfinance (FSAKAGAG)

akta.pro secondary industry

Microfinance, Financial Inclusion & Inclusive Markets (BPAGABAM)

Keywords

• Microfinance services
• Group lending
• Mobile banking
• SME loans
• Agricultural financing

Headquarters

HQ city

Kigali

HQ country

Rwanda

HQ region

Africa

Offices17 records

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Loan Portfolio Interest Income: Interest income from individual and group loans including TCB, Zamuka, ACB, SME loans (asset, working capital, shelter finance), agricultural loans (coffee, rice, maize, Irish potato), and school fees loans. Loan products range from 30,000 FRW to over 500,000,000 RWF depending on product type.
2. Deposit Account and Service Fees: Fee income from current and savings accounts including IKAZE accounts (RWF, USD, EUR), TEGANYA accounts, IKAZE Company accounts, SACCO accounts, GWIZA savings accounts, NZIGAMIRA savings accounts, and TUZA term deposit accounts. Account services include monthly charges and maintenance fees varying by account type.
3. Transfer and Remittance Fees: Transaction fees for bank transfers (internal transfers are free, RIPPS transfers have fixed fees, SWIFT transfers have amount-dependent fees), remittance services via Western Union, RIA, and MoneyGram, and mHose agent transaction commissions.
4. Mobile and Agent Banking Transaction Fees: Usage-based fees for mHose mobile banking transactions including cash-in, cash-out, airtime purchases, and bill payments processed through the agent network.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels3 records

Core offering

Urwego Finance is a microfinance institution in Rwanda providing individual and group loans, savings and current accounts, mobile banking via the mHose platform (USSD *501# and mobile app), internet banking, agricultural financing, SME loans, and remittance services. The institution focuses on serving underserved communities in Rwanda through a community-based lending model and multi-channel delivery including branches, mobile app, USSD, internet banking, and an mHose agent network.

Product overview

Urwego Finance is a microfinance institution in Rwanda offering a comprehensive suite of financial products and services. The core offering consists of mobile banking (mHose via USSD *501# and mobile app) and internet banking platforms. The product portfolio includes group lending products (Traditional Community Banking, Zamuka, Advanced Community Banking, Village Savings Groups), individual and company current/savings accounts (IKAZE, TEGANYA, GWIZA, NZIGAMIRA, TUZA, SACCO), SME loans (Asset, Working Capital, Shelter Finance, School Fees), and agricultural loans (Coffee, Irish Potato, Maize, Rice). Additional services include remittances via Western Union/RIA/MoneyGram and bank transfers through RIPPS and SWIFT networks. The institution focuses on serving underserved communities in Rwanda as part of the HOPE International network.

Differentiator

Problem solved

Functional benefit

Brands

• mHose: Mobile banking platform enabling customers to access banking services, execute financial transactions, cash in and cash out through agents. Recently merged with Momo. Accessible via *501# USSD code.
• Urwego mHose App
• Internet Banking

Products and services

• mHose Mobile Banking (USSD *501#) A mobile banking platform enabling customers to access banking services, execute financial transactions, pay bills, transfer money, apply for loans, and conduct cash-in/cash-out transactions through agents. Accessible via USSD *501# or the mobile app on Google Play Store and Apple App Store.
• Internet Banking Portal A secure online banking platform tailored for Corporate clients, MSMEs, and Individual Consumers enabling bulk transfers, bill payments, downloading/printing bank statements, cheque book requests, and standing order initiation from any internet-enabled device.
• Traditional Community Banking (TCB) Group loan product with amounts between 30,000 FRW and 1,200,000 FRW per member, designed for micro-business owners aged 18-70 with group sizes of 15-60 members, 4-6 month terms with weekly/bi-weekly payments.
• Zamuka Loan Group loan product with amounts between 700,000 RWF and 3,000,000 RWF per member, requiring collateral registered in RDB, with group sizes of 5-15 and 6-12 month terms.
• Advanced Community Banking (ACB) Group loan product with amounts from 250,000 FRW to 2 million FRW per member, group sizes of 10-25, with terms of 6, 8 or 12 months and compulsory savings requirements.
• Village Savings Groups Group loans tailored for savings groups trained by CARE International, with minimum loan amount of 500,000 FRW per group, 15-30 members, and 6-8 month terms without grace period.
• SME Asset Loan Loans starting at 1,000,000 RWF for small businesses and 5,000,000 RWF for large businesses, for working capital and asset acquisition with terms of 12-48 months.
• SME Working Capital Loan Working capital loans starting at 1,000,000 RWF (small) to 5,000,000 RWF (large) for micro-businesses with 12-36 month terms.
• SME Shelter Finance Loan Housing-focused loans starting at 1,000,000 RWF with terms of 12-60 months for business owners seeking to finance housing improvements.
• School Fees Loan Top-up credit available to existing Urwego clients with ongoing loans to support paying children's school fees for nursery, primary and secondary schools, up to 50% of existing loan amount.
• Agricultural Loans (Coffee, Irish Potato, Maize, Rice) Working capital loans for farmers organized in cooperatives covering crops including coffee, rice, irish potato, and maize, with specialized group and individual loan products linked to off-takers such as Rwanda Trading Company.
• GWIZA Savings Account Savings account in RWF with no minimum balance, earning up to 5% per annum on monthly minimum balance, with counter withdrawals limited to once per month.
• NZIGAMIRA Savings Account Savings account tailored specifically for children in RWF with a minimum balance of 5,000 RWF and benefits of up to 8% per annum.
• TUZA Term Deposit Account Term deposit contract for individual clients from 2 months up to 12 months with minimum balance of 20,000 RWF, earning between 3.2% to 6% depending on amount and term.
• IKAZE Current Account (Individual and Company) Current accounts available in RWF, USD and EUR for individuals, companies, NGOs, and cooperatives with no minimum balance requirement for most variants.
• TEGANYA Current Account Current account available for individuals taking part in group loans, only in RWF with no minimum balance required.
• SACCO Account Savings account available for SACCOs in RWF with a minimum balance of 1,000,000 RWF.
• Remittances (Western Union, RIA, MoneyGram) International money transfer services available in USD or RWF through Western Union, RIA, and MoneyGram networks.
• Bank Transfers (Internal, RIPPS, SWIFT) Money transfer services including internal Urwego transfers (free, same-day), RIPPS transfers to other banks (fixed fee, same-day), and SWIFT international transfers (2-day processing).

Quantifiable outcome

• Sales officer Teddy Kawera achieved a loan portfolio of close to 1 billion RWF with a Portfolio at Risk (PAR) of less than 2.3%, demonstrating strong loan performance and portfolio quality.

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• World ReliefcoreStrategic or Co-development PartnerWorld Relief founded Urwego Finance and currently owns 1% of the shares. Since 1994, World Relief has served in Rwanda, evolving from genocide response to long-term development through microfinance, HIV/AIDS response, and child mortality reduction programs.
• CARE InternationalcoreStrategic or Co-development PartnerPartnership with CARE International for Village Savings Groups. CARE International trains savings groups to save money, and mature groups are considered eligible to take group loans from Urwego Finance. Groups consist of 15-30 members.
• Rwanda Trading Company (RTC)coreStrategic or Co-development PartnerCoffee Group Loans are linked to Rwanda Trading Company (RTC). Coffee farmers formed into groups sell cherries to coffee washing stations (CWS) owned and managed by RTC. All loan disbursements are made through farmers' individual accounts at Urwego Finance.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• BPR Bank Rwanda: BPR (formerly Banque Populaire du Rwanda) is one of Rwanda's largest commercial banks with a broad retail, SME, and corporate banking franchise including mobile banking. Comparable as a broad incumbent in the same Rwandan deposit and credit market.
• KCB Bank Rwanda: KCB Bank Rwanda, part of Kenya Commercial Bank Group, offers retail, SME, and corporate banking including mobile and agent banking. Comparable as a regional broad incumbent operating in the same Rwandan market with similar deposit and lending products.
• Equity Bank Rwanda: Equity Bank Rwanda is a commercial bank with strong microfinance roots (Equity Group origins in Kenya serving low-income customers). It offers loans, savings, mobile banking, and agent banking across Rwanda. Comparable as a broad incumbent in the same Rwandan market with overlapping financial inclusion mission.

Direct peers

• VisionFund Rwanda: VisionFund Rwanda is the microfinance arm of World Vision in Rwanda, offering group loans, SME loans, and savings to rural and underserved communities. Highly comparable to Urwego as a faith-mission-driven MFI with similar group-lending methodology and rural focus.
• Duterimbere IMF: Duterimbere IMF is a Rwandan microfinance institution focused on women's economic empowerment, group lending, and SME finance. Directly comparable to Urwego in community-based lending methodology and Rwandan microfinance segment.
• AB Microfinance Bank Rwanda: AB Microfinance Bank Rwanda (an Access Bank subsidiary) offers microfinance, SME lending, savings, and digital banking in Rwanda. Comparable to Urwego in product breadth and underserved-segment focus, though with a different parent structure (commercial bank vs. NGO network).
• FINCA Rwanda: FINCA Rwanda is a microfinance institution serving low-income entrepreneurs and small businesses in Rwanda through group lending, individual loans, savings, and mobile banking. Directly comparable to Urwego in target customer, group-lending methodology, product suite, and Rwandan market focus.

Regional players

• Kenya Women Microfinance Bank: Kenya Women Microfinance Bank (KWFT) is a mission-driven microfinance institution serving women entrepreneurs and smallholders with group lending, individual loans, and savings across Kenya. Comparable in group-lending methodology and mission-aligned microfinance model, though operating primarily in Kenya rather than Rwanda.

Others

• CARE International Rwanda (Village Savings & Lending): CARE International partners with Urwego to train and supply Village Savings Groups (15–30 members) that become Urwego borrowers. Comparable as a feeder-network partner for group lending, with complementary financial inclusion programs across rural Rwanda.
• HOPE International (network MFIs): HOPE International's affiliated MFIs in other markets (e.g., DRC, Haiti, Ukraine) share Urwego's governance model, mission, and operating philosophy as part of the same parent organization. Comparable as a network peer reflecting Urwego's strategic and capital backing structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/UrwegoFinance
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/urwego-finance
• Instagraminstagram.com/urwegofinance

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Urwego Finance