Twenty five enterprises to secure interest-free loans as 6th edition of BK Urumuri initiative kicks off

On 7 May 2022 at 08:43

Bank of Kigali and Inkomoko Entrepreneur Development have launched the 6th edition of the BK Urumuri Initiative to identify 25 innovative businesses they intend to support. The winners of the competition will gain access to 6-months of training, consulting, and business advisory from Inkomoko and get the chance to grow their businesses, create more jobs and secure an interest-free loan from Bank of Kigali.

"At Bank of Kigali we believe in business as a model to transform lives and our country. We are devoted to supporting youth-led enterprises by giving them access to interest free loans. In this year’s BK Urumuri, we will select the best innovative ideas that provide digital solutions and equip these entrepreneurs with skills they need to unlock their full potential and foster their businesses to greater heights,” said Chief Executive Officer, Dr. Diane Karusisi.

For this 6th edition, outstanding inventive digital economy businesses which leverage technology in their daily operations and offer digital solutions to solve Rwanda’s pressing needs, especially those that create a positive social or environmental impact will be highlighted.

“The digital economy is no longer the future; it is here and many Rwanda entrepreneurs are already embracing it, creating innovative solutions. We are seeing many businesses adopting digital solutions in their day-to-day work. At Inkomoko we are immensely proud to support entrepreneurs that will create digital solutions for Rwanda and beyond,” Emmanuel Mugabo, Inkomoko Interim Managing Director.

The BK Urumuri Initiative application deadline is 13th May, and the 25 selected winners will undergo the Inkomoko Business Development accelerator program from June to September. Eligible businesses must be based in Rwanda, have annual revenue that is less than Rwf500m, have proof of registration for at least 1 year, demonstrate financial profitability, or plan to reach profitability within the next year. The competition is open to people of all ages and nationalities.

To apply for the BK Urumuri Initiative 2022 and the chance to win consulting and zero-interest loans, entrepreneurs can find the application link at www.inkomoko.com and contact +250 788 358 639 for any questions.

About Bank of Kigali

Bank of Kigali is the largest commercial bank in Rwanda by total assets, according to Global Credit Ratings. The Bank has won several back-to-back international and regional banking awards, including from EuroMoney, The Banker, Global Finance Magazine, and EMEA Finance. Bank of Kigali has also been named “Best Bank in Rwanda.”

About Inkomoko

Inkomoko Entrepreneur Development has supported Rwandan businesses since 2012, providing business training, consulting services, and access to affordable finance through its partner, AEC Rwanda Trustee Company Ltd. Inkomoko’s business accelerator program has helped more than 25,000 entrepreneurs in Rwanda run their operations more efficiently and strategically, create jobs for thousands of individuals, and increase their annual revenues by an average of 88%.

Inkomoko has a long history of gender equity in its entrepreneurship support, including working with women entrepreneurs in the SPRING accelerator for adolescent girls, the Imbuto Foundation sexual and reproductive health accelerator, trainings for young women at FAWE, partnerships with Kate Spade on Purpose fund in Masoro, and working with women entrepreneurs through partnerships with UN Women. More than half of Inkomoko clients have been women entrepreneurs.