Blue is optimistic that SME financing will be introduced to Rwanda the same way it is done in South Africa

Blue Financial Services Rwanda, is targeting eight branches across the country next year, the country manager has said.

The subsidiary of South Africa based Blue Financial Services was launched in Rwanda in September 2008 as a non deposit taking Micro Finance Institution (MFI). It currently has only one branch in the country—based in Kigali.

"We are looking at eight branches in the near future. Before the year ends we are talking about one more branch (in Kigali),” Gert Venter, the Country Manager said in an interview with The New Times.

Blue currently offers one year personal loans relating to home improvement, education loans. The company also offers one to three months salary advances.

But Venter is optimistic SME financing will be introduced to Rwanda the same way it is done in South Africa. He said, interest rates vary depending on the client’s risk profile, credit worthiness and ability to repay the loan.

"It is the same system used in South Africa,” he added.
He is also confident they are well positioned to compete favorably in the Rwandan market.

"We’ve been doing this for along time and we have systems in place, we have targets to meet,” he said "There is a success because people are accepting us, people are starting to know blue, our business has started to pick up”.

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