|Praying with clients is a privilege...|
This month, this update is a little late because I was traveling over the month-end with little access to internet.
October was another month of experiencing God's unceasing and overflowing grace. We praise the Lord for His goodness and faithfulness.
1. I had an opportunity to make a short trip to Korea. The primary reason for the trip was to look after my father whose health was deteriorating rapidly. But I found him to have improved quite a bit and I was able to leave Korea with grateful heart. But I also saw many long time friends in joyous reunion and met many new people who are brothers and sisters in Christ. I had a chance to meet Rev. Dong Ho Kim and Dr. Young Gil Kim, President of Handong Global University. I gave a lecture to 110 students at Handong.
2. We successfully completed our SME lending project in cooperation with Triple Jump. The project included basic research, sector analysis, credit scoring model development, training, operational procedures manual development etc. Particularly this project helped us develop (B-CAT or Business Credit Assessment Tool) that will be operating on the clouds (computing) to expedite the process for clients in remote areas.
3. We have successfully branded our mobile banking solution. It has been named mHose. Hose means "everywhere." Indeed it is our prayer that banking services may be available to all Rwandans wherever they are, even in the rural areas. Moreover, our product will pay interest on their savings and provide life insurance tied to their savings balance. May this product be useful for lifting up may underprivileged people of Rwanda out of chronic poverty.
4. Financially, UOB reported another month of record in monthly revenues, loan portfolio and active clients being served. Loan portfolio increased to Rwf10.7Billion, up 3% from the previous month and the borrowing client number increased substantially to 44,150. PAR>30 remained strong at 1.34%. Glory be to God Almighty!
|Children are precious treasure for Rwanda's future|
5. God has also provided many resources for UOB. DFID Rwandan approved our initial concept note on Innovation for Education and we successfully submitted our full application for 650,000 sterling pounds. IFC conducted its due diligence and wholehearted agreed to increase its funding for us. Praise the Lord! We were also approved by AFR and also by DFID UK on our concepts.We will submit full proposals to both institutions in November. October was a month of many blessings in resources. God provides! Amen.
6. We conducted focus group meetings with 165 clients on four new products: Premier Credit Life, Home Improvement Loan, Emergency Loan and Secondary Student Loan. The results were encouraging. We will gradually implement these products to help our client transform their economic lives better.
7. UOB signed an MOU with Handong Global University, Korea's Christian university to collaborate on multiple fronts. God is providing a couple of bridges between Rwandan and Korea, along with the MOU with Merry Year International.
8. UOB started issuing UOB Grace Cards (Chip and PIN debit cards) to its clients. We will have issued 50,000 cards by the year-end. Clients then will be able to access to cash service points through 240 ATMs and even 200 additional agents of another bank that is providing banking on POS. I am deeply grateful for all these delivery channels that are being made available to our clients.
9. I continued serving the saints of Christ through preaching at St. Etienne Cathedral, Agape Korean Church and UOB staff devotion, and Shalom Bible Study. SBS continues the study in the epistle to the Colossians. It is a blessing to be able to serve God's people through the Word.
|Kristin with Gicumbi pastor|
10. Kristin started a church nursery project in Gicumbi. It will cost $15,000 and at this time we have opened the door of support to our friends. The support has been overwhelming. Praise the Lord! Indeed it was an another example of God's promise of providing for His people on His work.
10. November will be full of activities. We will receive seven groups of people, including the OI GMO CEO, OI US Insight Trip, OIN Board Chairman, Merry Year International team etc. Besides, we will submit two funding proposals and prepare for the board meeting to take place in early December. We will begin the preliminary external audit from Earnst & Young and work on 2013 budget and 2013-2015 strategic plan. It makes me dizzy to even think about them, but we will move forward with trust in the Lord who provides strengths.
11. We have the request for your prayers for the following:
- mHose project will be launched successfully in November. There are some time-pressing needs to be addressed.
- 2013 budget and planning process will move forward smoothly.
- Premier Credit Life and Secondary Student Loan programs will be successfully launched.
- UOB Grace Card projects will be progressing without system glitches.
- Several funding proposals will progress without falling into cracks.
- Kristin's Gicumbi nursery project will move forward progressively.
- Our parents will live the rest of their lives peacefully and hopefully.
- Our children will find strong foundation in Jesus Christ in all they do and plan to do.
- Our health will remain safe and sound to be able to carry out the responsibilities bestowed upon us.
Thank you all for your faithfully standing with us in a variety of ways for the ministry to Rwandans.
Gratefully in His service,
Jeffrey and Kristin Lee from Kigali, RWANDA