In an interview with IGIHE, Manzi shared his investment journey in Rwanda, his current progress, and his vision for the future.
IGIHE: What inspired you to establish Manzi Finance?
Manzi Aloys: I once attempted to start a business and approached traditional banks for support. They initially agreed to help, but as the project progressed, they rejected my request. This experience isn't unique to me; others have faced similar challenges.
I realized there was something lacking in Rwanda's financial services; decisions tend to be delayed, and there's a need for modernization. We aim to offer quick services, where if you have a project you want to implement, we can quickly give you our feedback. If we find it unfeasible, we promptly advise you to seek other institutions.
Another aspect is that small entrepreneurs often struggle to secure loans. Having been an entrepreneur myself, I understand the challenges, and I'm now providing solutions that our clients appreciate. We are continually improving our services so that everyone can benefit from them.
Why did you choose to invest in Rwanda?
I started running projects in Rwanda in 2014, establishing the Manzi Foundation to help the underprivileged and combat poverty. Sometimes, fighting poverty requires helping people become self-sufficient. I found it necessary to engage in activities that create jobs, contributing to Rwanda's development.
Living abroad and forgetting your roots is a mistake because if you don't know where you come from, you won't know where you're headed. I love Rwanda and desire to see it become one of the world's leading countries, and the only way to achieve that is for Rwandans to take the lead in building it. That's what motivated me to invest in Rwanda.
Where does Manzi Finance stand after more than two years of operation?
Manzi Finance is progressing well. Initially, we applied for the necessary approvals to operate as a recognized financial institution, and recently, the National Bank of Rwanda conducted an inspection and granted us permission to operate as an official financial institution.
We are no longer in the trial phase. We have started supporting entrepreneurs, particularly small business owners, and many others who seek our services. We plan to expand our operations to reach other Rwandans in the diaspora. That's our next goal.
What makes Manzi Finance stand out?
Manzi Finance offers loans to those looking to build, purchase land, or expand their businesses. We provide funds quickly compared to other financial institutions in Rwanda. That's our unique feature. We offer swift services, and if we find that someone's application is not satisfactory, we quickly inform them.
What other investment projects are you planning?
We are now looking to build houses for people in the diaspora and have launched a company called 'Black Rock Construction' to handle this. These houses will meet the preferences of Rwandans in the diaspora.
In the first phase, we will construct these homes in Kanombe, Busanza, building two-storey houses that cater to the needs of those investing in Rwanda without being physically present. We will also manage these houses to ensure they find clients once completed, offering full support to the owners.
We also have a factory in Kayonza that produces fortified maize flour (kawunga), supplying schools, and we plan to bring it to the market for everyone to access in Kigali, other provinces, and even abroad. We've obtained the 'S Mark' quality certification, and we're progressing well.
What message do you have for other Rwandans living abroad?
I would encourage my fellow Rwandans living abroad and those interested in investing in Rwanda not to delay, as the country is secure, and no one would invest without confidence in their safety. The country is in good condition, and Rwandans have faith in the country's future. This progress can't be achieved by one person alone; it requires everyone's contribution.
That's why my partners and I are committed to continuing to expand our investments because there are benefits, including providing jobs and contributing to Rwanda's development. Rwanda is secure and has everything needed for profitable investments.
Karirima Aimable Ngarambe
