Thursday, December 12, 2013

UOB Client Queen Nyirinkwaya Story on Christian Post in the U.S...

Queen Nyirinkwaya is one of UOB's clients. She is a married woman with two daughter and has a growing timber wholesale business, a little unusual for a woman in Rwanda. But her business thrives.

Queen joined a UOB trust group in 2009 and has taken numerous loans over time. The first loan amount was Rwf50,000 ($75) and now she is able to manage Rwf950,000 ($1,428). As the business has grown, she has been able to hire three employees.

As she has been transforming her economic life, she has been also transforming socially by helping others. She has been able to pay rent for her two sisters in law and also pay 50% tuition for Queen's younger brother. She also provides daily needs for her older sister. Amazing transformational impact through this business, which has been made possible with micro loans!
Queen uses mHose to buy electricity from home and make loan payments without having to close her business to travel to make the loan payment. This helps her business continuity and also avoids losing business because she is not around.

What is mHose? 

Queen with two daughters
mHose is UOB's mobile and agent banking platform. UOB is working with mVISA, VISA's emerging market solution to accelerate its outreach to underserved markets around the world. Rwanda is mVISA's pilot country and UOB is the first partner to design, develop and launch its platform.

mVISA is a powerful platform that allows the users to send and receive money, receive and pay loans, buy air time, pay bills and purchase from merchants. These features are to be even further strengthened soon.

mHose is effectively mVISA Plus. mHose has two additional features on top of mVISA's functions. mHose pays interest on all money that goes through mHose and also offers free life insurance to the users and up to two family members, tied to savings balance.

As of now, mHose has signed up more than 16,000 clients and 130 agents. Its monthly transaction volume is more than 35,000 transactions, amounting to more than $1.2 million. Incredible progress in a short period of time since it was launched in April 2013.

Queen is one of these mHose users who enjoy this technology platform for her daily business and life, yes in Rwanda, Africa. Thank God for it!

Her story has been featured in an article at Christian Post in the U.S. in conjunction with Hope International, one of UOB's shareholders and UOB's partners.

To read more about Queen's story and how she benefits from this service, Click here - Jeffrey

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