BK Group chair tours major BK Foundation schemes on financial literacy, entrepreneurship
Thursday, August 29, 2024
The visit focused on the BK Urumuri Initiative and the foundation’s financial literacy partnership with iDebate Rwanda on Wednesday, August 28,

BK Foundation hosted Jean Philippe Prosper, Chairperson of the Board of Directors of BK Group, for a visit to two of its flagship programmes that promote entrepreneurship and financial literacy.

The visit, which took place on Wednesday, August 28, focused on the BK Urumuri Initiative and the foundation’s financial literacy partnership with iDebate Rwanda.

The BK Urumuri Initiative, a long-standing programme, offers interest-free loans and comprehensive business development services to local entrepreneurs. Since its launch, the initiative has supported 225 entrepreneurs, significantly contributing to economic growth and innovation.

ALSO READ: BK Foundation, Igire implementing partners set out to build resilience for youth

This year’s edition is focused on supporting women entrepreneurs, with 25 women currently participating in intensive business training and coaching through a partnership with Inkomoko, an advisory firm and impact investor.

Visitors pose for a photo with staff of Byose ni Bamboo Ltd,

Ingrid Karangwayire, Executive Secretary of BK Foundation, commented during a press interview: "We were pleased to host the Chair of the Board and showcase the foundation’s efforts. One of our key interventions is educating young people on how to save and manage money. It was inspiring to watch high school students debate financial topics, broadening their understanding of money.

"They also asked some challenging personal questions, which allowed us to discuss how they can navigate life and understand the banking sector, particularly in Rwanda. The impact of the foundation’s work is evident—entrepreneurs who started with just two employees now have 20 full-time staff. This growth reassures us that our investments are driving real progress.”

ALSO READ: BK Foundation, Inkomoko, empower women entrepreneurs in 8th edition of BK Urumuri Initiative

During his visit, Jean Philippe Prosper had the opportunity to meet with entrepreneurs who have benefited from the programme.

Delphine Uwera, founder of Byose ni Bamboo Ltd, shared her experience: "Bamboo is one of the most renewable resources on the planet, making it perfect for eco-friendly furniture and décor. It’s not just beautiful; it’s also incredibly durable and long-lasting. Its light colour palette helps to make any space feel airier and more open.”

Students follow Philippe Prosper's remarks as he met iDebate members

Uwera joined the BK Urumuri Initiative in 2021, receiving an interest-free loan of Rwf2 million, which she used to expand her business. "I trained over 28 individuals, 20 of whom were women, and three of them became entrepreneurs as well. Others found employment, and some still work with us as temporary staff.

"Our talent pool often prioritises temporary work to give more people opportunities. Today, we’re working with 11 people, but our numbers fluctuate depending on the orders we need to fulfil.”

Expressing her gratitude for the ongoing support from BK, Uwera added, "I’m thankful to BK for following up on our progress. After my conversation with the Group Chair, I was promised further support. I’m currently in my second year pursuing a university degree in Environmental Management and Conservation, which has opened new avenues for me.

"BK has promised additional loans because they were impressed with the progress we’ve made. We now operate with our own bamboo processing machines and have a plot for growing bamboo, though the yield isn’t complete yet.

"We’re also looking forward to training more people to work with bamboo because it’s a valuable resource, especially here in Masaka. More hands in this business will improve both affordability and accessibility,” she said.

ALSO READ: BK Foundation equips students with career guidance, financial literacy at university fair

Papy Biganza, Managing Director of Afia Pharma, an online marketplace for prescription and over-the-counter medications, reflected on his participation in the BK Urumuri Initiative:

"Through the initiative, I secured an interest-free loan of Rwf3.5 million and gained invaluable knowledge on finances and marketing. Navigating cash flow statements used to be a challenge, but now I handle my financials with ease.

"Our annual revenue has surpassed $100,000 (approximately Rwf132.7 million), and our vision is to expand into 10 new markets across Africa to address the issue of fragmentation in the pharmaceutical supply chain. We’re currently pursuing an initial public offering to reach $30 million in annual revenue. BK has provided us with crucial advice and guidance on how to achieve this vision, and they are supporting us every step of the way.”

Biganza highlighted the success of their prototype in Rwanda and outlined plans: "Next up is DR Congo, where the high cost of medication, along with accessibility and availability issues, presents a significant opportunity in a large market. After DR Congo, we’re looking at Burundi, and from there, we’ll decide on our next steps.”

Afia Pharma is improving healthcare access, particularly for individuals with chronic diseases, by providing specialised care and essential medicines to support ongoing treatment and better health outcomes.

In addition to meeting with beneficiaries of the BK Urumuri initiative, BK Group officials also engaged with iDebate Rwanda, a non-profit organisation dedicated to empowering young people through critical thinking and public speaking. This organisation has impacted the educational landscape, boosting students’ confidence in expressing their ideas.

Complementing these efforts, the Money Makeover Challenge, backed by the BK Foundation, promotes sound financial management among individuals and small businesses. The programme provides participants with essential tools and strategies for economic stability and growth.

During his visit, Prosper toured the Dreamers Academy Camp 2024, organised by iDebate Rwanda, where approximately 500 students from 68 schools gathered. He observed the training sessions and listened to participants share how the programme has positively impacted their financial education.

About BK Foundation:

Established in January 2023 by BK Group, BK Foundation is dedicated to giving back to the Rwandan community through a focus on three core pillars: education, innovation, and environmental conservation.

The foundation’s initiatives aim to empower communities, promote sustainable development, and foster innovation. Its efforts have led to improved access to education, the advancement of innovative solutions, and environmental preservation, all contributing to the growth and well-being of the Rwandan people. For more information, visit: www.bkfoundation.rw

Papy Biganza, Managing Director of Afia Pharma, an online marketplace for prescription and over-the-counter medications

Jean Philippe Prosper, Chairperson of the Board of Directors of BK Group during his visit BK Foundation . Photo by Emmanuel Dushimimana
Ingrid Karangwayire, Executive Secretary of BK Foundation