Tuesday, 8 October 2013

Huye: projects being limited by Financial Insititutions in Hanga Umurimo Program


In the 20 idealistic projects that were presented in Hanga Umurimo phase 1 and presented to the financial institutyions to be financed in Huye diostrict, only 11 were selected and 6 are already up and running.

According to Thomas Nkotanyi the director of SORWAFA  a society that follows on the operations of these projects, out of the 11 selected projects, 9 were worked on and 2 failed completely. Out of the 9 projects, 6 are already operating and the remaining 3 are still working on getting the financial credits.

The 2 projects that were dissbanded include making shoes out of hides. The owner had applied for a loan of Rwf30M from ECOBANK which in turn provided only Rwf7M and he decided toi let go of the project.

Another project from ‘Abaruhuje Cooperative’ who wanted to develop mushroom growing. The period the cooperative was supposed to work expired before they could get the paper work and the project was dismissed.

The project owners who are already working are however complaining of the poor working relationships with the financial instritutions they are dealing with. One of the Project owners dealing in bee keeping says « i asked for Rwf38 M to do the project and produce quality honey but the People’s Bank (Banque Ppopulaire) gave me only Rwf21M. i failed to buy a Rwf6M machgine to regulate honey forthe quality produce. »

One of the other owners of the operating projects says Hanga Umurimo Project gave them the chance to prove and work on thier ideas but financial institutions are limiting thier potentials.

Huye: projects being limited by Financial Insititutions in Hanga Umurimo Program


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