Fina focuses on SME lending
A financial services provider in Rwanda is stepping up lending to small and medium-sized enterprises (SMEs) in the country.A financial services provider in Rwanda is stepping up lending to small and medium-sized enterprises (SMEs) in the country.
Fina Bank's lending to SMEs went up by 115 per cent during 2011, the New Times reports.
As a result, the company is looking to tap into this market further with its latest range of products specifically designed for these firms.
To support this objective, staff at Fina Bank have received additional training on SME lending.
Rao G Balivada, managing director of the company, said this included seminars and workshops on issues such as business practices, as well as financial analysis and credit assessment.
"When we started our operations in Rwanda, 80 per cent of growth was contributed by SMEs," he commented.
"We should focus on SME lending."
This comes shortly after Fina Bank confirmed it is launching MasterCard in Rwanda very soon as part of an effort to get more people in the country using alternatives to cash.