CREATION OF AMIR IN 2007 WAS A NEW ERA FOR MICROFINANCE SECTOR
Although self-help groups called IBIMINA have long existed; the Microfinance sector in Rwanda is relatively young. The first microfinance has begun to exist since 1975 with the establishment of the First Banque Populaire at NKAMBA (formal KABARONDO district).
After the 1994 Genocide in Rwanda, the microfinance sector has known a dramatic progress through the support of relevant international and non-government organizations especially for humanitarians. These NGOs helped people by support of daily use of equipment, foods but had also the microcredit teaching program. During the emergency period, in some cases the loans do not differ to grants or donations and sowed confusion among the population. Thus has developed the culture of not paying normal bank loans which caused non-performing loans primarily in the Bank Populaires, at a rate of around 45%. When the Government embarked on a development phase, many NGOs have turned and became microfinance institutions without too much professionalism.
CREATION OF AMIR IN 2007 WAS A NEW ERA FOR MICROFINANCE SECTOR
AMIR is the only professional umbrella organization of MFIs operating in Rwanda with the core mission of supporting its members to become professional and sustainable. It was created in 2007 with 32 founding members and currently its membership has reached 340 licensed MFIs/SACCOs among them 3 micro finance banks, Limited companies and credit and savings cooperatives. Its membership represents more than 90% of the microfinance sector in Rwanda with an aim of integrating all MFIs/SACCOs operating in Rwanda so that to serve them under one umbrella.