Ministry Updates - December 2011

Dear friends, family and fellow Kingdom workers,

The month of December was the culmination of God's grace upon UOB in 2011. Here are the highlights:

1. UOB's loan portfolio surged to Rwf7.9 Billion at one point and finished the year at Rwf7.6 Billion, a 10% or $1.2 million growth from November and an almost 100% surge from YE 2010! It has been a dramatic ride in 2011 with a $6 million expansion in our financial support for the economically active poor and God has been at the center of all this amazing ride. The deposit balance has also continued increasingto Rwf5 Billion. We had to draw down on the loan from BRD and IFC. We were thankful for the credit facilities that were placed beforehand for these positive circumstances. Although there were some glitches, our staff has handled all things without major crises. I am grateful for and proud of our staff.

2. UOB's loan portfolio quality remained excellent with PAR>30 days at 0.86%, an improvement from November 30th (1.2%) and YE 2010 (1.3%). 

3. Thanks to strong operating performance, coupled with tight operating expense control, UOB has been profitable since February 2011. We do not have the December figure yet, but we are expected to report a profit with operating sustainability in 2011. Praise the Lord! I am so glad to report that our staff has been paid 100-120% of their monthly salary as bonus in December. All our staff is appreciative and I am personally so happy for our staff, even happier than when I was paid a fat bonus in the U.S. This happiness cannot be snatched away by anyone else. It is mine to keep!

4. The number of active borrowing clients that UOB serves has continued to increase to 40,663, an increase of 898 clients from a month earlier. The total number of clients was over 120,000, thus showing a strong outreach performance as well. 

5. The number of clients who are receiving monthly lessons of Holistic Life Improvement training is slowly but steadily increasing with approximately 6,500 having been trained in November. This produces transformation impact among our clients. 

6. UOB started in-house testing for mobile and agent banking in December. A beta pilot testing will begin in January with four groups in Kigali. For this purpose, we are meeting several prospective agent network managers for a potential relationship.

7. We disbursed two Christian private school development loans in December. This has been made in cooperation with Edify, a US NGO, which desires to support Christian education at private schools in developing countries. UOB is the only partner in East Africa.

8. UOB has a tradition of reaching out to even less fortunate people in Rwanda with gifts financed by UOB staff's voluntary contribution matched by the bank. I was able to join this visit to a small village (Umudugudu) in Masaka where 19 families of parent-less young people are living together. These 19 families are all genocide survivors with the ages ranging from 18 to 43. We shared God's message of faithful love, of being freed from the past pain and of living a hopeful life in Christ. Each family received 25 kg of rice, 10 kg of sugar, 10 bars of soap and 5 liters of cooking oil. They asked us to pray for them since they will be relocated to different shelters in 2012. Another group also visited 3 other families of similar circumstances.   

9. Korean missionaries in Rwanda continued the monthly prayer fellowship and it was a blessing to us all. May this fellowship enhance the spirit of edification and collaboration!

10. Kristin and Jeffrey received and had fellowship with several visitors. Ms. Ji-Young Rhee, a BAMer (Business As Mission implementer) and a great supporter for missionaries came to visit UOB and Rwanda with one of her associates David Kim. Ji-Young has shared a message at UOB devotion and presented BAM materials and appropriate technology items to the UOB leadership team and will present the same to Korean missionaries. She also wanted to learn more about how God is working through UOB and transformational Christian micro finance. Jeffrey met and had a fellowship with Rev. Jong Pyo Im and his wife. They have been serving Africa for the past 30 years as missionaries. It was a great blessing to fellowship with them. UOB also received a couple of Harvard College students as interns for a few weeks: Kristine and Samuel. UOB will also receive another intern (Saangkeub Lee) from S. Korea for several weeks.  

 

11. The Kininya sewing project that Kristin is handling continues to progress well. Out of 20 women who have been trained for the past nine months, 10 have been selected and they will start a commercial operation from January 2012. Their skills are not quite professional yet, but we trust they will improve further. We are excited! 

15. Jeffrey continued serving God's people through preaching at UOB staff devotion, St. Etienne Cathedral and Agape Korean Church in Rwanda under establishment. He also led the weekly Shalom Bible Study, studying the Sermon on the Mount. It is a time of mutual blessing and spiritual growth.

16. We have the following Prayer Requests: Please...

      * Pray for the UOB's continuing holistic transformational development through Christian micro finance in Rwanda.

      * Pray for the scheduled beta pilot testing for mobile and agent banking in January
      * Pray for a scaled-up progress in UOB's agricultural lending program.

      * Pray for Kininya sewing women to be able to begin their commercial operation well from January. 

      * Pray for God's wisdom and guidance in designing effective educational finance products that will benefit many students in Rwanda

      * Pray for our children (Amanda + James, and Joyce) who are still trying to figure out what God has in store for their lives on earth. 

      * Pray for God's peacefulness in the heart of Kristin's mom during her last days of life on earth

We appreciate your partnership with us through your prayer and support in 2011! Look forward to continuing our partnership in 2012!   

I wish you and your family a blessed New Year!

Humbly and gratefully in His service,

Jeffrey and Kristin Lee from Kigali, RWANDA,