The Urumuri Initiative which was launched for the first time last year during Bank of Kigali’s 50th anniversary, continues this year as the Bank invests in Rwanda’s emerging business leaders.
For this year, Urumuri is seeking entrepreneurs with a unique Made-in-Rwanda brand, which supports the government’s initiatives to develop local products and services for the Rwanda market and export potential.
According to Diane Karusisi, the Bank of Kigali chief executive, the Urumuri Initiative, is another way of linking young innovators while supporting them on their journey to forge a bright future.
“We want to link young entrepreneurs to financial institutions and enhance their access to credit in order to support youth-led enterprises” said Diane Karusisi.
“We are looking for business leaders with the potential to reinvest in Rwanda for the next 50 years,” she added.
The Winners will undertake a six-month training in business support service at Inkomoko, a Rwandan organization that provides specialized training to business leaders to learn skills that can be applied directly to their companies, as well as the potential to access zero-interest loans from Bank of Kigali.
Inkomoko that has recently launched a tourism and hospitality accelerator in partnership with Mastercard Foundation’s Hanga Ahazaza works and support with a range of entrepreneurs with innovative ideas and enterprises.
“Entrepreneurs can are able to boost Rwanda’s economic growth by developing and growing solutions from within their community, and through sharing ideas more broadly,” said Nathalie Niyonzima, Managing Director of Inkomoko.
Last year, a large range of businesses were selected for the first Urumuri Initiative, including Yummy-n-Fresh health foods, SafeMotos ride-hailing app, Pure Pro windshield repair, Murukali delivery, and more.
“Being a part of the Urumuri Initiative helped us grow so much, especially with our branding and finances. Our logo and marketing before was not professional, but since I started working with Inkomoko, I got more confident in our branding,” said Assumpta Uwamariya, a 2017 Urumuri winner and CEO of Karisimbi Wines.
All businesses received support from Inkomoko for improving their financial planning, growth strategy, accounting, and more.
The Urumuri Initiative application that is due to start today, will close on is June 15, where the 25 selected winners will start the Inkomoko Business Development accelerator shortly after. Eligible businesses must be based in Rwanda, have financial sustainability plans, and meet other competitive criteria.
To apply for Urumuri 2018 and the chance to win consulting and zero-interest loans, entrepreneurs can find the application link at [www.BK.rw/urumuri->www.BK.rw/urumuri] or [www.inkomoko.com->www.inkomoko.com] and contact +250 786 779 012 or +250 788 548 441 for any questions.
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