The numerous financing woes faced by cross-border women traders could soon be history following a partnership between the traders and the local microfinance institutions body. Though cross-border trade contributes a big portion to informal earnings by the country, most of the players, especially women, lack working capital, and collateral to secure loans. During an exhibition of products and services offered by microfinance institutions (MFIs) that attracted 150 representatives from 63 cross-border traders’ co-operatives, the women traders were assured of support to their businesses. The partnership, which is being promoted by Pro-femme/Twese Hamwe and the Association of Microfinance Institutions in Rwanda (AMIR), seeks to increase access to finance by small-scale women engaged in cross-border trade, according to Jean Pierre Uwizeye, the senior programme manager at AMIR. “We want to support women engaged in cross-border trade so that they are able to access funding to expand their enterprises,” Uwizeye said last week. He said the exhibition aimed at showcasing the products offered by MFIs, which cross-border women traders can utilise to grow their businesses. He added that, during the event, the women traders were also sensitised on how they can acquire loans from MFIs, as well as credit management. Emma Marie Bugingo, the executive secretary at Pro-femme/Twese Hamwe, urged cross-border women traders to take full advantage of the partnership with microfinance institutions to grow their ventures. She added that micro-loans have helped many Rwandans to start or expand their businesses. Bugingo said the exhibition helped bring together microfinance institutions and the traders, noting that the interaction will create a good working relationship. Oliver Uwizeyimana from Nyaruguru said cross-border women traders still face many challenges, including limited access to information about microfinance institutions products. She said the microfinance institution leaders they met at the one-day fair helped them understand the different loan products and other services offered by MFIs. business@newtimes.co.rw
