The company aims to assist those with small businesses who have previously struggled to obtain loans from traditional financial institutions.
The official launch event took place in Kigali on March 24, 2026. Small business owners who previously found it difficult to access loans from banks are now able to apply for loans via a digital platform without having to leave their locations.
Using Numida’s mobile app, applicants can fill out the required forms and receive loans ranging from 800,000 Rwandan Francs(Rwf) to Rwf12 million. The approval process takes less than 24 hours.
To qualify for the loan, applicants need to have a smartphone to download the Numida app, provide their national ID, a photo, and have a business that has been operating for at least six months in Rwanda.
They must also have the necessary registration documents from the Rwanda Development Board (RDB) proving ownership.
Mina Shahid, the CEO of Numida, stated that the loan process for small business owners is part of a broader initiative to align with Rwanda’s Vision 2050, which aims to speed up development and ensure financial services are accessible to all.
He said, “Our company’s goal aligns with Rwanda’s Vision 2050, to ensure everyone has easy access to financial services. Numida’s mission is to make the dreams of one million people across Africa come true.”
James Rwagasana, Manager of Supervision of Non-Deposit Taking Lending Financial Institutions at the National Bank of Rwanda (BNR), reassured potential clients of Numida’s legitimacy.
He emphasized that the company is fully licensed by BNR and does not require deposits for the loans.
“This new institution is authorized by the National Bank of Rwanda and operates legally. It is part of the national strategy to increase access to financial services, especially loans, so that Rwandans can grow their businesses,” Rwagasana explained.
One of the beneficiaries, Teddy Nishimwe, a Rwandan entrepreneur, received a loan of Rwf3.5 million from Numida. She confirmed that the process was simple and quick, and the loan would help her expand her business.
Since its launch in Rwanda in March 2026, Numida has already disbursed over Rwf120 million in loans to 150 Rwandans using its digital platform.
Numida has been operating in Uganda since 2017 and in Kenya since 2023. The company has provided over $150 million in loans to support the growth of more than 100,000 businesses across these three countries. The goal is to have disbursed loans to 5,000 businesses in Rwanda by the end of 2026.
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