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Access to capital for women entrepreneurs in Rwanda

Rwanda has put in place mechanisms to promote financial inclusion.

A National Financial Inclusion Strategy that is focusing on products and opportunities dedicated to helping women and girls to access capital has been developed and adopted.

The Rwandan Ministry of Finance and Economic Planning is now working with different Financial institutions in the efforts to promote financial inclusion.  

The country has also initiated the Business Development Fund (BDF) which is providing guarantees and grants to accompany the ongoing financial inclusion initiatives with a deliberate effort targeting marginalised women and young girls.

In the same line, the Ministry of gender and family promotion (MIGEPROF ) and Ministry of ICT and innovation (MINICT) are initiating a Women and youth Investment Facility (WYIF) for new startups mostly emerging women and youth entrepreneurs.

angle-left Bank of Kigali Group PLC

Bank of Kigali Group PLC

About the institution

Brief history of Bank of Kigali Group PLC

Bank of Kigali was incorporated in the Republic of Rwanda on December 22nd 1966 as a joint venture between the Government of Rwanda and Belgolaise, the subsidiary of Fortis Bank and commenced its operations in 1967 serving as one of the then market leader in banking sector.

The Government of Rwanda acquired the Belgolaise share in 2007, thus increasing its direct and indirect shareholding in the Bank to 100%.

In compliance with revised laws relating to private companies in Rwanda, in 2011 the Bank changed its name from Bank of Kigali S.A to Bank of Kigali Limited and to BK Group PLC in 2017 with 3 subsidiary companies namely BK General Insurance, BK TecHouse and BK Capital.

 

 

List of loans provided

 

 

Brief description of the loan

Zamuka Mugore is a commercial loan which provides low income women with easy access to loans and business advisory services. Low income women can get loans ranging between Rwf100,000 to Rwf5 million without a collateral

 

Interest rate

18.5% per year

 

Collateral

N/A

 

Grace period

N/A

 

Duration

Two years maximum

 

Repayment terms

Monthly payment        (installment)

 

Requirements

 

 

 

Have an account in BK and have more than one year in a tangible business. They also mandated to discuss with BK about their business plans so that BK can assess their marketability and profitability.

Contacts

KN 4 Ave
Kigali/ Rwanda, No12 Plot No 790
4455 (Local Center)
(250) 788143000
info@bk.rw
P.O. Box 175, Kigali/RW

 

Stories

 

 

 

The African Development Bank partners with EAC, COMESA & ECOWAS Regional economic blocks to implement the 50 Million African Women Speak Networking Platform Project.The platform is intended to empower millions of women in Africa to start, grow, and scale up businesses by providing a one-stop shop for their specific information needs. Click on the image for more information

 

50MAWS Project engages East African Financial institutions for more financial inclusion. Click on the photo above for the full story