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Nyamurinda Coffee

Francine Nahimana and Immaculée Mukamana started with 20 hectares and a vision of a brighter future for their community in rural Rwanda. As their neighbors continued to rebuild in the wake of the Rwandan Genocide, these two women launched Nyamurinda Coffee to aggregate their community’s crops and sell directly to buyers in Europe. This direct market access earned farmers better incomes, but without access to capital, Nyamurinda could only provide farmers with high prices for a portion of their crop and the business could not grow. Local banks offered loans with high interest rates and burdensome collateral requirements— sometimes as much as three times the total loan amount. These banks weren’t willing to shoulder the risk of lending to an early-stage business.

Against this backdrop, Alterfin stepped in to provide Nyamurinda with its first-ever loan—a $100k line of credit. To hedge against the risks posed by lending to a nascent business like Nyamurinda, Alterfin relied upon a 50% risk-sharing mechanism from the Alterfin Guarantee Fund in addition to financial incentives from Aceli Africa, which defrays a portion of the transaction costs on this smaller loan that would not otherwise have been profitable.

Now, Nyamurinda has expanded to reach over 1,400 farmers, the majority of whom are women, and has grown its sales by 60% since starting to work with Alterfin. Financing has enabled Nyamurinda to reach additional buyers and a recent analysis by Alterfin showed the results carry through to the farm level. Since beginning the lending relationship, Nyamurinda has increased their provision of seedlings and inputs to farmers while training more producers on good agricultural practices. Over three-quarters of farmers reported improvements in their living and working conditions with greater income to invest in education, housing, and health for them and their families. What’s more, 80% of the women farmers reported that their decision-making power in the household has increased, empowering the women who have rebuilt this community. Alterfin recently approved their third line of credit with Nyamurinda and Root Capital has become its second lender, extending its first line of credit in 2022. These two CSAF lenders are deepening their impact on Nyamurinda and the hundreds of farmers it supports.

“Thanks to Alterfin’s loan, we’ve earned the trust of many international buyers who feel confident about working with us. Alterfin has undoubtedly had a catalyzing effect on our company… and we hope to further strengthen our relationship in the future.”

– Immaculée Mukamana, Director of Nyamurinda

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