On June 1st 2020, 25 women-led businesses out of 130 applicants were selected for this year’s BK Urumuri 4th edition. These women entrepreneurs will receive a six (6) months business accelerator program, including business training and consulting from Inkomoko Entrepreneur Development, and a chance to win a 0% interest loan from Bank of Kigali.
The selected 25 include women entrepreneurs from Rwanda’s fast-growing sectors: Light Manufacturing, Agribusiness, Fashion, Hospitality/ Tourism, Professional Services, Healthcare, Handicrafts, Media & Advertising, Construction, Publishing, and Software development.
This year’s BK Urumuri launch was done virtually due to the Covid-19 pandemic, but participants were assured of the efficiency of the services they will receive even in these unusual circumstances.
In her congratulatory message to the selected entrepreneurs, Bank of Kigali’s CEO, Diane Karusisi mentioned that this year, BK chose to focus on unleashing the economic power of women because women contribute significantly to the economic development of the country. She also encouraged the selected women to use this opportunity for recovering their businesses from the Covid-19 pandemic, because even in crises there are also opportunities.
“Our partnership with Inkomoko this year will focus on helping businesses to recover. So, to all the women who are starting this journey with BK Urumuri, we want to tell you that it’s time to strengthen your business because we believe that in periods of a crisis, there are also opportunities. Work with us, work with Inkomoko, learn, don’t give up; I know it can be tempting to give up in these periods, but work hard and know that we will succeed together”, says Ms Karusisi.
In her congratulations message to the winners, Inkomoko Managing Director, Nathalie Niyonzima assured entrepreneurs of Inkomoko’s commitment to offering them quality services during the program through a team of experts assigned to them.
“We’re pleased to partner with BK again to bring these Urumuri resources to women in all districts of Rwanda. Even if we are operating in unusual circumstances, at Inkomoko we are committed to providing quality services. The learning that you will get from this accelerator program will not only support you to seek Bank of Kigali’s 0% interest loan but will also prepare you to ensure your business emerges stronger with new skills to navigate the post-Covid business environment,” says Ms Niyonzima.
Inkomoko has been offering business skills and consulting services to more than 5000 entrepreneurs in Rwanda for over 7 years, and among them 100 BK Urumuri winners of the past three editions who have commended the program for having contributed tremendously to their business growth. Previous winners include the famous House of Tayo, Moshions, Murukali Market Smart, Yummy and Fresh, Mudacumura, Karisimbi Wines, Ki-pepeo Kids, Ishyo Foods, and many more. Inkomoko’s programs have pivoted to support businesses virtually, including digital services, ensuring compliance with health and safety standards, focusing on revised cash-flows to adjust for Covid realities, and have provided management and marketing trainings through Zoom and daily WhatsApp tips to clients.
“I’ve had the opportunity to witness the past entrepreneurs’ growth first hand, and we expect this year’s Urumuri participants to push even beyond what we have seen possible,” says Ms Niyonzima.
THE 25 SELECTED WOMEN-LED BUSINESSES:
Inkomoko has served the needs of Rwandan businesses since 2012, providing business training, consulting, and access to affordable finance through its partner, AEC Rwanda Trustee Company Ltd. 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 annual revenues by 80%.
For more information, visit www.inkomoko.com
About Bank of Kigali
Bank of Kigali is the largest commercial bank in Rwanda, by total assets, Global Credit Ratings affirmed. Bank of Kigali’s 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 from EuroMoney, The Banker, Global Finance Magazine, and EMEA Finance. It has been named “Best Bank in Rwanda.”
For more information, visit www.BK.com