Taxi motorcycle operators set for mortgage facility

Fina Bank-Rwanda has pledged to extend mortgage facilitates to commercial motorcyclists registered with a taxi moto association, ASETAMORWA, as part of the bank’s initiative to support small and medium enterprises.This is as a result of a partnership between German Development Cooperation (GIZ) and the Ministry of Finance to support small and medium enterprises as well as improving the standard of living.“We are just waiting for the association to present its demands and this will give us a proper work plan as far as to budget for the whole programme is concerned,” Muhawenimana said.He made the remarks on Friday during the bank`s inspection exercise to examine the operations of the association of the taxi-motorcycle business in Kigali. He said beneficiaries are expected to repay their loans within a period of seven years.“It will be the first time such a financial institution trusts us to such a level; as most financial institutions have in the past considered monthly earners and maybe prominent business operators for the mortgage facilities,” said Bosco Hitimana, a motorcyclist operating around Kisementi area in Kigali.This is the latest product rolled out by the bank to support the association after another that saw members acquire bigger motorcycles through a lease programme.According to members, this development spurred their income as it helped them to shift from using the previous smaller motorcycles (Velo Moteur) which they say had become unpopular with customers.Speaking to The New Times, the chairman of ASETAMORWA, Evode Nzitunga, said the association is finalising to the deal.“We are consulting each of our members who are ready and have the capacity to pay based on their credit worthiness and records before we forward our final proposals,” he said.He also pointed out that beneficiaries must contribute a certain percentage that will be deposited on their bank accounts to suit the bank’s requirements depending on the cost of each housing unit. Nzitunga pointed out that the association intends to spread to all parts of the country.

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Taxi motorcycle operators set for mortgage facility