Organized annually by the BK Foundation in partnership with Inkomoko Rwanda, the initiative supports entrepreneurs in various sectors with funding and mentorship to grow their businesses.
From December 2ndâ€"4th, the top five businesses were recognized and awarded zero-interest loans from Bank of Kigali, ranging from Frw4 million to Frw7 million each.
These loans aim to scale their operations and drive further innovation and social impact. The winners, with business operations in Kigali, Gicumbi, Kayonza, and Musanze, were selected for their creativity and their positive contributions to their local communities.
Many participants from this year's cohort expressed their intentions to use the funds to invest in equipment, expand their teams, and streamline their operations.
Ingrid Karangwayire, Executive Secretary of BK Foundation highlighted that BK Urumuri Initiative is committed to fostering economic growth and resilience by addressing key business themes each year.
'This year, we exclusively focused on women-led businesses, offering them the chance to pitch for zero-interest loans from the Bank of Kigali. Many participants highlighted plans to expand their teams, automate operations, and access higher-quality inputs. These women entrepreneurs are driving solutions in traditionally underserved sectors, championing inclusivity and innovation,' she said.
This year's program engaged 25 women-led businesses, offering tailored business acceleration, interest-free loans, and access to a network of 60,000 MSMEs across East Africa.
Emmanuel Mugabo, Managing Director of Inkomoko Rwanda, emphasized the program's success: 'The initiative equips entrepreneurs with the skills to grow their businesses, track performance, and create jobs across the country.'
The five winning businesses include those from agriculture, food production, and hygiene.
For instance, Bountiful Farmers Ltd supplies high-quality potato seeds, Hope and Future for Women Development Ltd grows fresh strawberries, and Eastern Alpha Co Ltd produces hygiene products.
Skai Foods is known for its chili sauce and other value-added food products, while N5 Business Group manufactures nutrient-rich porridge and peanut flour.
Winner Yvette Umutoniwabo, founder of N5 Business Group, shared her success story: 'Through the BK Urumuri program, I learned to track transactions, target markets, and prepare for investments. Now that we have won this loan, it will really help us automate production and double our revenue.'
Since its inception, the BK Urumuri Initiative has supported over 200 businesses. Past participants have seen an average monthly revenue growth of 388% and created, on average, four new jobs per company.
BK Foundation, the philanthropic arm of the BK Group, advances societal progress through education, innovation, environmental conservation, and financial literacy.
Meanwhile, Inkomoko supports entrepreneurs across Rwanda, Kenya, Ethiopia, and South Sudan by providing coaching, training, financing, and market access.
The BK Urumuri Initiative was launched in 2017 to mark the 50th anniversary of the Bank of Kigali and aims to support young entrepreneurs in developing projects with the potential to grow into successful businesses in the future.
Since its inception, the initiative has provided over Frw234 million in interest-free loans to emerging entrepreneurs, contributing to the growth of Rwanda's entrepreneurial ecosystem.
IGIHE
