GroFin Powered My Expansion Dreams, Says Petrol Fuel Pump Owner

Warm, hospitable and ever-smiling, the 38-year-old Francine Mukaremera can easily be mistaken for any other woman. But for those who know her, Mukaremera is a woman of power, fuelled by her passion for the oil business and dreams of seeing her M.Line petrol service stations spring up across Rwanda.

Since 2008, Mukaremera has demonstrated her ability to successfully manage oil businesses with a sole proprietorship that was later formalised into her company, M.Line Petro Station Ltd, in 2011. With overall entrepreneurial experience of 16 years, Mukaremera is currently running four petrol stations and managing four tank trucks under the M.Line brand.

Economic opportunities are increasingly related to the mobility of people, goods and information, making fuel an important link in the development chain. Accordingly, initiatives like Mukaremera's are a contribution to the national economy both directly and indirectly by easing transportation of goods and passengers.

Given the importance of Mukaremera's initiative, GroFin invested US$1 million in form of a term loan over 5 years, to extend the strongest possible support to her as she powers on with her dream of setting up M.Line petrol stations across Rwanda.

Apart from finance, GroFin also provided strong support to Mukaremera on reviewing her business strategy and strengthening its operating systems.

"We helped Francine review her business plans, apply best management practices with proper management structure and clear segregation of duties and responsibilities, elaborate policies related to Health and Safety in the organisation, and analyse existing operations to streamline M.Line's business activities," says Christian Bugabo, Country Manager, GroFin Rwanda.

"GroFin not only provided me finance but also reviewed my business model and detailed innovative revenue diversification strategies such as convenience stores for my petrol service stations," adds Mukaremera.

Finally, the employment impact of this investment is high. GroFin's financial and business support will help maintain 33 jobs and create 13 more in just the first year after financing, with 90 per cent of jobs earmarked for low skilled people and 36 per cent to be created for women.

"I expect to double my market share in just a year of GroFin financing and support," she concludes.

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