Work Roselyn Ltd, Jotete investment ltd, Nova Leather ltd, Exalto Engeneering and Solution Ltd and Weya Creations Ltd are one of five projects out of 10 selected by Bank of Kigali’s Urumuri initiative in partnership with Inkomoko, a local business consulting firm to get Rwf5 million.
Emmanuel Nkusi Batanage, the Bank’s Company Secretary, noted that it was the first time the programme was designed for only women, whom he described as future big customers of the bank.
“Women-led businesses have for the previous three editions proven to be more efficient in terms of paying back their loans and also using the funds to expand their businesses, and that’s what we based on while organising this year’s competition,” said Batanage, who also doubles as the Bank’s Chief of Corporate Affairs.
“In general, impact assessment reports indicate that 70 per cent of those that benefit from this programme use the fund to expand their businesses at the same time our economy, which is our primary target,” he added.
The Managing Director of Inkomoko, Nathalie Niyonzima, commended the entrepreneurs’ resilience particularly during the Covid-19 pandemic, which paralysed business operations.
“We are pleased and inspired by the resilience the women entrepreneurs have shown in operating in today’s tough business environment.”
“In partnership with BK, Urumuri is an opportunity for us to celebrate and honour the entrepreneurs who are job creators and who provide much needed products and services in our community.
Two of the five recipients of the Rwf5 million loan Clementine MUKANDAYISENGA and Roselyne NYIRAHATEGEKIMANA are a member of Rwanda Youth in Agribusiness Forum (RYAF) Work Roselynr Ltd : an agri-business leading the growing and production of rosella hibiscus. Besides flowers, the company makes juice and tea powder from the medicinal plant. And Exalto Engineering and Solutions Ltd ; an agri-processing enterprise making whiskey, wine, and juice out of sugarcane with growing exports to Ivory Coast, Congo, and Tanzania.
This year’s competition attracted over 150 applications from various sectors such as Fashion, Media, Horticulture, Hospitality, Construction, Agri-business, and Light Manufacturing among others.