Interest Rates on Microloans in Rwanda to Drop
Monday, January 3, 2011
Rwandans will soon pay lower interest rates following the launch of the Transparent Pricing Initiative project in the country.
The initiative, which is already operational in Uganda, Kenya and Tanzania, is part of the broader MFTransparency programme aimed at impelling African microfinance institutions to price loans fairly and educate citizens on interest rates.
“Rather than attempt to control interest rates, we facilitate transparent pricing in microfinance products so that all stakeholders can be aware of the value of microloans in the market,” said Jordan Filko, the development and communications associate MFTransparency via e-mail.