Hauge family microfinance umuryango
was started in the middle of the year 2014 in one Burundian province: Bururi. As with other MFIs operating in Burundi, HFM struggled during its early stage and especially during the past two years HFM has not grown significantly.
The political and economic situation
From 2015, the political and economic situation has not been good as evidenced by the increase in inflation. The Burundi Franc continued to lose value against the dollar a question may affect our Operational activity. Prices suddenly change because of inflation. This effect translates into market dynamics to a more challenging for our customers, because their purchasing power is adversely affected.
HFM has expanded
From 2016 and 2017, HFM have expanded to scale financial access in five provinces with underserved rural areas thanks to Fund supports from NORAD.
challenges remain, but optimism is greater!
Opened office in Bujumbura
In 2018 Bujumbura for Office is also opening in order to reach adequate management requirements for HFM to start thinking stand on its own without donor aid.
We open 2 news Branches
In 2019 MUZINDA and KIRUNDO SELLERS SERVICES CENTERS are opened with the full support of HFM
Loan Portfolio increases
This strategic equipped HFM to deploy:
4 financial access points, disburse BIF 2,705,139,029 loans and open 19,183 savings accounts with total clients of 17,894 as at December 31, 2019.
It is working and it is possible!
Let me expressing a deep sense of gratitude to all who have enabled the HFM achieve the registered results. This includes our clients for remaining loyal to the HFM and new joining clients for continuing to trust us.
May I also thank the potential development partners and the Board for its guidance and continued support,
Finally, all the aforementioned achievement was made possible by a passionate and enthusiastic staff team at HFM.