Overview

Name & Meaning: Umutanguha Finance Company Plc. “Umutanguha” means “a friend who never deceives” in Kinyarwanda.

Type of Institution: Microfinance Institution (MFI), public company limited by shares.

Founded: 2003 by ICYUZUZO (an association of widows). It began as a savings & credit cooperative.

Transformation:
• 2006: Transformed into a Union of cooperatives.
• 2013: Registered as a limited liability company, licensed by the National Bank of Rwanda to operate country-wide.

Mission, Vision & Values

Mission: To offer sustainable, client-driven financial and non-financial services, especially to those financially excluded — rural populations, women, youth, farmers, refugees.

Vision: To be a leader among MFIs in Rwanda in contributing to improved household wealth, especially in rural and peri-urban areas, using both digital channels and branch networks.

Core Values: Inclusiveness; openness; client focus; mutual education; synergy between financial and non-financial services; cooperation among shareholders.

Governance & Management

Board & Senior Management:
• The board comprises non-executive directors, led by a Chair (Mr. Sibomana Innocent) and Vice-Chair (Mr. Barigora H. Evariste).
• The CEO is Mr. Muhawe nimana Noel.
• Other executive roles include: CFO, Director of Audit, Operations Director, Legal & Company Secretary, HR/Admin, Director of Credit, Core Banking, Risk & Compliance, Marketing & Projects, IT, and Business Development.

Products & Services

Financial Products:
• Savings and deposit accounts, including for low-income earners, children, and youth.
• Multiple loan products.
• Digital banking and mobile banking services.

Non-financial Services: Financial literacy and training on savings, loan management, entrepreneurship, and digital finance, with a focus on excluded groups.

Branch Network & Coverage

Branches: Approximately 22 branches and 1 outlet across Rwanda, serving both urban and rural locations.

Rural Focus: A large share of clients are in rural and provincial areas.

Ownership & Investment

Shareholding: The major shareholder is FINAFRICA Microfinance Holdings, a subsidiary of Groupe Duval.

Amalgamations: UFC has acquired or merged with several microfinance cooperatives over time to expand its reach and operations.

Performance & Impact

Operational Self-Sufficiency: UFC operates sustainably with positive returns.

Size / Client Base: Significant outreach with branches across the country.

Focus Groups: Youth, women, farmers, the financially excluded, rural dwellers, and refugees.

Regulatory & Legal Status

Licensed by the National Bank of Rwanda (BNR) to operate as an MFI.

Registered as a public limited company by shares.

Challenges & Considerations

Microfinance institutions typically face risks such as loan delinquency and portfolio at risk.

High operating and administrative costs come with serving many small clients in rural areas, so balancing sustainability with social mission remains important.