{"id":56167,"date":"2025-11-04T15:22:41","date_gmt":"2025-11-04T15:22:41","guid":{"rendered":"https:\/\/new.igihe.com\/goshen-finance-records-strong-growth-as-assets-hit-frw-24-billion\/"},"modified":"2025-11-04T15:03:26","modified_gmt":"2025-11-04T15:03:26","slug":"goshen-finance-records-strong-growth-as-assets-hit-frw-24-billion","status":"publish","type":"post","link":"https:\/\/new.igihe.com\/english\/goshen-finance-records-strong-growth-as-assets-hit-frw-24-billion\/","title":{"rendered":"Goshen Finance records strong growth as assets hit Frw 24 billion"},"content":{"rendered":"<p>The announcement was made during an extraordinary general assembly of shareholders held on November 2, 2025, where members also elected a new Board of Directors to replace the outgoing leadership that had served since 2016.<\/p>\n<p>The outgoing board was chaired by Peter Nkubara, who has been succeeded by Jonathan Gatera as the new Board Chair.<\/p>\n<p>Presenting the institution\u2019s performance highlights, Nkubara noted that Goshen Finance had maintained consistent growth across key indicators, including assets, loan portfolio, and customer base.<\/p>\n<p>\u201cWhen we took over in 2016, total assets stood at Frw 3.1 billion. Today, we leave behind a stronger institution with assets worth Frw 24 billion, according to the financial report released in September 2025,\u201d Nkubara said.<\/p>\n<p>Over the same period, the institution\u2019s loan portfolio expanded from Frw 2 billion to Frw 20 billion, while its customer base grew from 20,000 clients in 2016 to more than 70,000 in 2025. Including clients under cooperatives, the total now exceeds 100,000.<\/p>\n<p>Goshen Finance also increased its branch network from six in 2016 to nine in 2025, strengthening its footprint across key districts.<\/p>\n<p>Speaking during the assembly, Goshen Finance Managing Director Ignace Musangamfura, commended the outgoing board for its stewardship and commitment to good governance, which he said laid a solid foundation for sustained growth.<\/p>\n<p>\u201cI sincerely thank this outgoing board because they ensured strong corporate governance, which is crucial for growth. A company can\u2019t thrive without a board that sets strategic direction, ensures compliance, and upholds standards set by oversight institutions like the National Bank of Rwanda (BNR),&#8221; Musangamfura said.<\/p>\n<p>He pledged close collaboration with the newly elected board to sustain the institution\u2019s momentum and implement ongoing digital transformation projects aligned with the country\u2019s financial inclusion and innovation agenda.<\/p>\n<p>\u201cAs an institution still in its growth journey, we recognise that we are operating in a highly digital era. Some of our technology-related projects have been delayed due to limited capital. We therefore need to strengthen investment in the coming years, and it\u2019s encouraging to see shareholders showing strong commitment,&#8221; he added.<\/p>\n<p>The new Board of Directors, chaired by Jonathan Gatera, includes Dr. Charles Hategekimana, Lois Nyirasoni, Vivien Niyomugenga, and Josephine Mugeni.<\/p>\n<p>Founded in 2005 as a COPEC, Goshen Finance Plc was licensed by the National Bank of Rwanda (BNR) in 2008 to operate as a microfinance institution. The institution now operates nine branches in Nyarugenge, Ruhango, Kimironko, Musanze, Nyabugogo, Rubavu, Remera, Downtown, and Rwamagana. The institution employs around 100 staff members.<\/p>\n<figure class=\"spip-document spip-document-97250 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance.jpg\" alt=\"Goshen Finance Plc has reported strong growth in its financial performance, with total assets rising to Frw 24 billion in 2025, up from Frw 3 billion in 2016.\" \/><\/figure>\n<figure class=\"spip-document spip-document-97249 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance_2.jpg\" alt=\"Goshen Finance customer base grew from 20,000 clients in 2016 to more than 70,000 in 2025. Including clients under cooperatives, the total now exceeds 100,000.\" \/><\/figure>\n<figure class=\"spip-document spip-document-97248 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance_3.jpg\" alt=\"The new board of Goshen Finance Plc has committed to promoting the growth and development of the institution.\" \/><\/figure>\n<figure class=\"spip-document spip-document-97247 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance_4.jpg\" alt=\"Shareholders of Goshen Finance Plc convened in a special meeting to elect new leaders.\" \/><\/figure>\n<figure class=\"spip-document spip-document-97245 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance_5.jpg\" alt=\"Jonathan Gatera was elected to chair the Board of Directors of Goshen Finance Plc.\" \/><\/figure>\n<figure class=\"spip-document spip-document-97243 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance_7.jpg\" alt=\"Goshen Finance Plc\u2019s Managing Director, Ignace Musangamfura, expressed his appreciation to the outgoing board for their dedicated service and significant contributions.\" \/><\/figure>\n<figure class=\"spip-document spip-document-97244 aligncenter\"><img decoding=\"async\" src=\"https:\/\/en-images.igihe.com\/jpg\/goshen_finance_8.jpg\" alt=\"\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Goshen Finance Plc has reported strong growth in its financial performance, with total assets rising to Frw 24 billion in 2025, up from Frw 3 billion in 2016, marking a significant milestone in the institution\u2019s nine-year journey of expansion and stability.<\/p>\n","protected":false},"author":131,"featured_media":2000097252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-56167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000097252,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/goshen.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/goshen.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/goshen.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/goshen.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/goshen.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/goshen.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/56167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=56167"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/56167\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000097252"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=56167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=56167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=56167"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=56167"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=56167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}