Microfinance body starts business arm

TheAssociation of Microfinance Institution in Rwanda (AMIR) has established a business arm, a move aimed at ensuring it is self-sustaining and independent. Rita Ngarambe, the managing director of the new company, said AMIR Consult Company Limited will act as an economic arm to generate income for the association. “This will also help reduce over dependency on donor money to fund the associations activities,” Ngarambe added. She said currently almost 95 per cent AMIR’s funding comes from development partners. “However, the business arm of AMIR could change this and make the association self-reliant thus boosting efficiency in project implementation,” she told Business Times. The new company will support the microfinance sector through research, financial consultancy, mentorship, technical assistance and working as external auditors for members, she added. “We want to leverage our expertise and offer affordable services to members and other businesses.”

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Microfinance body starts business arm