BK headquartersThe 4th annual BK Urumuri competition will select 25 women-run businesses for 0% interest loans and 4-month business training and consulting from Inkomoko.
On March 18th 2020, Inkomoko Entrepreneur Development and Bank of Kigali Plc, launched the 4th annual BK Urumuri competition to identify Rwanda’s most outstanding entrepreneurs.
This year, the competition is seeking 25 women entrepreneurs for Inkomoko’s four-month business accelerator which equips entrepreneurs with strategies in marketing, sales, finance, and customer service. Notably, the entrepreneurs will be well-prepared to pitch for a 0% interest loan from Bank of Kigali.
The BK Urumuri initiative, launched in partnership with Inkomoko in 2017, is part of the Bank of Kigali’s corporate social responsibility intended to empower young, growth-oriented entrepreneurs in Rwanda to create jobs. So far 100 businesses have completed the program, and have received more than 100 million Rwf in 0% interest loans from Bank of Kigali.
“BK Urumuri is a way for Bank of Kigali to give back to the community by supporting upcoming entrepreneurs who have brilliant ideas to manage their businesses. This year, we are focusing on unleashing the economic power of women as we want to assure them of our partnership towards their development journey,” says Dr Diane Karusisi, Bank of Kigali’s CEO.
“We have been honored to work with so many strong business women in Rwanda, and we have seen how Inkomoko consulting services help them grow. Especially with changing times, any business can benefit from having better systems, capacity to respond to a changing market, and affordable finance,” says Nathalie Niyonzima, Managing Director of Inkomoko. “We are pleased to partner with Bank of Kigali again to bring these Urumuri resources to women in all districts of Rwanda.”
Applications are now open at www.inkomoko.com until April 12th, 2020. Eligible businesses must be Rwanda-based, woman-led, have less than 500M Rwf annual revenue, and address market needs in Rwanda. Businesses can be in any sector that creates positive social or environmental impact, and must prove financial profitability within 2020.
An independent committee of business experts will select the 25 businesses, which will be announced by 15 May.
About Bank of Kigali Plc
Bank of Kigali Plc is the largest commercial bank in Rwanda, by total assets, Global Credit Ratings affirmed.
Bank of Kigali has a long-term and short-term national scale ratings of AA-(RW) and A1+(RW) respectively with a stable outlook. The Bank has won several back-to-back international and regional banking awards, including awards from EuroMoney, The Banker, Global Finance Magazine, and EMEA Finance.
For more information, visit www.bk.rw
Inkomoko has served the needs of Rwandan businesses since 2012, providing business training, consulting, and access to affordable finance. With 130 staff in 8 offices across Rwanda, Inkomoko’s business accelerator has helped more than 5000 entrepreneurs in Rwanda run their operations more efficiently and strategically. On average, entrepreneurs in Inkomoko’s accelerator increase their revenues by 80%.
For more information, visit www.inkomoko.com
ABOUT THE WINNERS OF BK URUMURI 2019
Amazon Nutrition Cabinet
Amazon Nutrition Cabinet was started in 2018 and is specialized in nutrition services, therapy and nutritious alternative foods. The company currently sources nutritious alternative foods from external suppliers in Kenya and elsewhere in the regions and sells them at the Rwandan market, with a goal to develop “Made in Rwanda” nutritious food alternatives, which they have already started as they are currently making a sugar cane fresh juice mixed with other ingredients.
Avo Health was started by Euphrosine Mugeni Niyidukunda in June 2017 and is located in Huye. The business makes natural avocado cooking oil. They get their avocados from cooperatives and farmers in and around Huye. The business is currently selling to several prominent clients who are in the tourism and hospitality sector such as Serena hotel, Kigali Convention Center, a cosmetic factory based in Kigali and a client from Belgium.
Greenleaves was founded in 2016 by Jeremy Gisagara, who was trained in Israel to make affordable agriculture infrastructures using locally made Rwandan products. The company manufactures greenhouses, solar driers, irrigation materials, hydroponics, and aquaponics cultivation services. The company targets private agribusiness companies, NGOs, government bids, as well as cooperatives.
Ishyo Foods was founded by Akanyana Sharon, a graduate in agriculture from the University of Rwanda, in early 2018. Ishyo Foods produces jam from different fruits such as tree tomato, strawberry, and pineapples. Their products are sold in supermarkets in Kigali like Samba Foods and Simba. Sharon started her company in her kitchen with minimum resources and yet the company has grown a lot since because of the uniqueness of the products.
Ki-pepeo kids was founded in 2016 by Priscilla Ruzibuka. It is a social enterprise that works to create employment for women and girls from disadvantaged backgrounds in Rwanda while creating the very first children-clothing brand in the country. Ki-Pepeo kids buy fabric and tailor clothes and sell them in their shop at Kigali Heights and online.
Nziza Igisura was founded in 2017 by Janvière Ingabire. She is moving fast to success using the naturally neglected nettle plant (Igisura). The company produces juice, wine, powder and tea from nettle plants (Igisura), which they get from their plantation. They sell the products in their shop in Kagugu as well as on exhibitions all over the country.