25 win second edition of BK-Urumuri Interest-free financing

Bank of Kigali launched Urumuri initiative last year while marking its 50th anniversary as a way of giving out to the community and in a symbolic way, by helping discover ideas with potential to be the ‘next big thing.’

For this year, Urumuri is targeting entrepreneurs with a unique Made-in-Rwanda brand, which supports the government’s initiatives to develop local products and services for the Rwanda and foreign markets.

The 25 startups represent the most innovative projects from Made-In-Rwanda businesses that were picked from over 100 applications that were submitted as BK announced yesterday.

Speaking during the event, Diane Karusisi, the Bank of Kigali Chief Executive, said that the Urumuri Initiative, is another way of linking young innovators while supporting them on their journey to forge a bright future.

“The selected 25 startups will undertake six-month training in business support service. From those, we’ll select five startups with the most outstanding projects which will receive zero-interest loans from Bank of Kigali.” she said.

Mugisha Innocent who founded Ibitekerezo Digital Studio, a startup among the 25 selected, expressed his excitement at the prospect of the contest.

“Being part of the Urumuri Initiative will help us grow and develop our business and I am assured that a lot of opportunities await us,” he said.

The 25 selected startups include Moshions, SM SHOWROOM LTD, Ibitekerezo Digital Art Studio Ltd, Sanit Wing Ltd, Imagine We Publishers, Kaya Africa Ltd, Josh Innovation Limited, Lime Fresh Family Ltd, F4390 Specialized Cons. Activities, Iteterogahima Enterprise, Chocolate Point Ltd, Dkunderwear, Get It, RwaBambooBikes, Beyond The Gorilllas Experience, Vermi-Comp ltd, Umubano Leather Product, Bright Energy and Environment Management ltd, Akeza Mutima Ltd, San Company Ltd, Nezerwa Bamboo Products Ltd, Detex Enterprises Ltd, House Of Tayo, STYLEBYJUAN, and Nutrition Advisory Council Rwanda Ltd.

At a yet to be mentioned date and venue, the bank will announce projects that will share the interest free-financing.