The Bank of Kigali (BK) Foundation in collaboration with Inkomoko on Thursday, April 27, launched the 7th edition of BK Urumuri Initiative, a competition designed to support 25 innovative sustainable businesses in Rwanda.
The BK Urumuri Initiative started in 2017 to mark Bank of Kigali’s 50th anniversary and has since been held annually as a sign of the bank’s continued commitment to promoting the Rwandan economy and empowering local entrepreneurs.
Fighting the global Climate change impact remains one of the key areas of focus thus forming the foundation of this year’s BK Urumuri where the initiative targets eco-friendly businesses.
"Our commitment to respond to climate change impacts in our communities and ensure that we have a greener and equitable future form the foundation of this year’s program,” Ingrid Karangwayire, the Executive Secretary of the BK Foundation said.
She added, "We want to promote sustainable businesses and innovations focusing on circular economy, waste management, and other environmentally and socially conscious businesses to create a greener and more resilient economy.”
Winners in the seventh edition of BK Urumuri Initiative will not only receive a six-month mentorship from Inkomoko, which includes training, consulting, and business advice, but also have the opportunity to scale and grow their businesses, create jobs, and secure an interest-free loan from the Bank of Kigali.
Inkomoko Rwanda Managing Director, Aretha Mutumwinka Rwagasore, said: "We are excited to partner with the BK Foundation to identify and support ambitious enterprises that are leading the way toward a greener economy. Together, we can help them grow and create a lasting positive impact on our environment.”
The Inkomoko’s accelerator program which is expected to run from June to November is expected scheduled to accept applications until 19th May this year
To be eligible for this year’s program, a business must be based in Rwanda, have annual revenue under Rwf500 million, be registered for at least 1 year, and demonstrate financial profitability or a plan to reach profitability within the next year as well as show a track record in environmental and social sustainability in production and practices.
The organizers appeal to all Rwandan entrepreneurs to join the BK Urumuri Initiative 2023 and compete for expert consulting and zero-interest loans by applying online at www.inkomoko.com or www.bkfoundation.rw. Further, you can reach out to 250 788 358 639 for more details on the program. Women and youth-led enterprises are encouraged to apply.