AUXFAM to implement the UMVA system in Rwanda

AUXFAM to implement the UMVA system in Rwanda van Auxfin

Door: Auxfin  15-08-2008
Trefwoorden: Banking, Money Transfer

UMVA Client, the low cost remittances system, and UMVA Bank, the banking solution for small banks, have started in Rwanda.
People from around the world can now join as a member of UMVA.

For more information send an email to or contact your president of the local Diaspora group.

The UMVA client system is special developed for migrants and migrant workers, but due to solution the cost level and user interface many people like the solution. The UMVA electronic safe is the place for all the electronic documents, for e-money, but also other values such as the administration of the cooperative and their farmers by kilograms of Rice, or for a large community such as a workers union, or a women's association.

Our experience in Sub-Saharan Africa, and the dialogues with some other countries have given us the information to develop the right products. Special financial services in developing countries are in high demand, we have an explosive growth of micro-credit loans and -organizations, but also the need to remove the large waiting lines for bank withdraw, or deposit has an high priority.
The development shows large growth numbers, many times over ten percent, this leads to even more demand of cash or financial funds.
People are used to wait for several hours to withdraw a small amount, or they travel a long distance only to find out that the bank has no banknotes left and they need to come back another day.

In Poor banking area's the only solution is that people are helping each other with the solution that the sender will send e-money via a PC or mobile phone and in return the receiver of the e-money will give cash to the sender in that value.

The UMVA solution is ready for that process and will be able help many people.

The partners of UMVA will give access to internet so that the members are able to do these transactions.

The total cost of sending money home by Migrants and Migrant workers, including communication cost, is 25%. We are talking about 160 BILLION US $ that can be added to DEVELOPMENT and the majority of that amount stays now in the Western World, that seems unfair to us.

UMVA Bank, the banking solution for small banks.

The UMVA bank system is developed for FMI's like small banks, micro credits organizations, money exchange bureaus, insurance companies etc.

Also any other organization that has a cash flow and members can benefit from the system. Examples of groups who are making a study of the system: Cooperation of Rice farmers Rwanda, Workers Union East Africa, Catholic Women Organization, Sports clubs, Tourist organizations, Hotel communities, Telephone companies and many more

We have special functions for the jobs in an organization, such as Reception, Cashier, Administrator, Manager, Auditor, Board etc,


AUXFAM delivers functionality for micro payments on the internet against the lowest possible transaction cost.

AUXFAM transaction system for Micro Payments on a Social Basis, Planning, Budgeting and Internet Access functions specialized for Countries. In combination with the Physical AUXFAM card it support access to properties and payments systems. AUXFAM embraces the Millennium goals as defined by the United Nations. One of these goals is to reduce transaction charges and introducing new technology to support transferring remittances.

We assist MFIs (Micro Finance Institutes) and their customers to implement new technology in order to reduce the cost of transactions. The MFI uses its profits to provide internet access, create jobs, develop infrastructure for internet and communication, deliver
education, finance small businesses, support members with micro credits etc.

For more information go to   or send an email to

About UCT Bank :

The Union of the Co-operatives of the Workers, UCT, is an amalgamation of Co-operatives of the Workers, CT, being within the limits of the territory of the Republic of Rwanda. It was created on December 9th, 1993 by Ministerial decree n° 045/3/30.

The objectives of UCT are:
- To contribute effectively to the research of solution with the socio-economic problems of the workers in Rwanda;
- To lead the workers to become aware of the value of the interdependent saving in their development;
- To develop a synergy with other national and international co-operative organizations committed in the promotion of the sustainable development of the working masses.

Trefwoorden: Banking, Money Transfer