Kigali, Rwanda – October 10, 2024 – Bank of Kigali (BK) has reaffirmed its commitment to driving Rwanda’s agricultural growth by partnering with Kivu Choice Ltd., a fast-growing aquaculture company that is transforming Rwanda’s fish farming industry. This collaboration, worth Rwf 5 billion with the first phase being Rwf 1 billion, is part of BK’s broader initiative to strengthen agricultural financing and contribute to the national goal of achieving food security.
Agriculture remains the backbone of Rwanda’s economy, and Bank of Kigali is playing a crucial role in supporting its modernisation. By providing financing solutions to innovative enterprises like Kivu Choice, BK is helping to enhance food production and affordability. The aquaculture sector, in particular, holds immense potential to provide sustainable, nutritious foods to Rwandans while creating jobs and supporting rural livelihoods. This partnership will enable Kivu Choice to expand its production capacity and make nutritious fish products more accessible to communities across the country.
Dr Diane Karusisi, CEO of the Bank of Kigali, shared her enthusiasm for the partnership, stating, "This collaboration with Kivu Choice is a transformative step for Rwanda’s agricultural sector. By supporting innovative businesses in aquaculture, we are helping to ensure affordable, sustainable nutritious foods for our people while also driving rural development. At Bank of Kigali, we believe that investing in agriculture is not just about growing food—it’s about fostering inclusive economic growth and building resilience in the communities that depend on it.”
Kamran Ahmad, founder and CEO of Kivu Choice, emphasised the importance of the partnership for their mission, stating, "Our partnership with BK will allow us to significantly expand our equipment and infrastructure capacity so that we can continue to scale at pace to serve more of the market. We’re grateful for the opportunity to work closely together to tackle food and nutrition security; this investment takes us one step closer to making our products accessible and affordable across the entire country.”
In addition to expanding production capacity for Kivu Choice, this partnership also aims at financing the whole value chain to ensure the wider aquaculture industry benefits from it. With 350 employees growing to 1,200 in three years, over 200 suppliers, and 3,000 traders, this partnership will also target supplier and trader financing.
As part of its strategic focus on agricultural financing, Bank of Kigali continues to develop tailored financial solutions that support the sector’s modernisation and resilience. From providing accessible financing to agribusinesses to offering customised financial products for farmers, BK ensures that the agriculture industry receives the necessary support to thrive.
About Bank of Kigali Plc
Established in 1966, Bank of Kigali is Rwanda’s largest financial institution. As a leading commercial bank, it provides a wide range of services, including digital banking, to over 500,000 customers through an extensive branch network and digital platforms. BK is committed to fostering innovation and economic growth through targeted financial solutions for individuals, SMEs, and corporations.
About Kivu Choice Ltd
Kivu Choice is a vertically integrated Aquaculture company based in Rwanda with associated feed mill, hatchery, cage production, distribution, and sales outlets. Founded in 2021, and now producing over 500 thousand fish meals a month, the company is Africa’s fastest-growing fish farm, with a mission to democratise access to animal protein by radically increasing affordability and supply across the region.