Letshego banking services launched in Rwanda

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Kungu Gatabaki, (left) the Letshego’s chairman witnesses the launch

Kungu Gatabaki, (left) the Letshego’s chairman witnesses the launch

Letshego-Rwanda limited, formerly known as Rwanda Microfinance Limited (RML) has launched its new brand with a promise to change the lives of Rwandans and improve the microfinance sector.

The launch of the new brand name- Letshego Rwanda was witnessed by officials of the National bank of Rwanda, ministry of finance and its clientele, gathered at Hotel des Milles on October 24, 2014.

Kungu Gatabaki, the Letshego’s chairman for Rwanda and Kenya said that the choice of expanding their business to Rwanda was an intentional choice not to compete but to work in an environment that has a conducive banking sector.

“We are not here to compete, but with this good banking environment in Rwanda, we shall be able to set high degree of ethical banking and services with recognition of the loyalty to our customers” he said.

We are introducing new products that will respond to the needs of our clients and ensure that they are satisfied”

Rwanda Microfinance Limited (RML) was established in May 2004 as a regulated credit only microfinance company limited by shares. The institution was established to provide access to financial services to small and micro-entrepreneurs in Rwanda.

According to Mythri Sambasivan-George, the Head of Corporate affairs, some of the improved services that will be provided by Letshego Rwanda include faster access to credit, easy loan application process, and an opportunity to access multiple loans within a short time.

The process will be very simple and we don’t want our clients to pay these extra charges on bank transactions. This way, they will be encouraged to bank with us” Sambasivan-George said.

Bernard Kivava, the Managing Director of Letshego-Rwanda also revealed that the bank is expected to increase two more branches in the countryside by next year 2015, in addition to its existing six branches-four in Kigali and two in Muhanga and Musanza districts.

During the launch Letshego-Rwanda limited also donated Rwf2.7 million intended to health insurance for 900 beneficiaries in Nyarugenge district, as part of its corporate social responsibility to the community they serve.

Four of its loyal clients who have been with the bank since 2004 were also awarded with cash prizes of one hundred US dollars each, which was directly transferred to their respective accounts.

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About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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