BK TecHouse, a prominent fintech company, and AeTrade Group, a renowned social enterprise, have forged a strategic partnership aimed at expediting digital payments and fostering financial inclusion for micro, small, and medium-sized enterprises (MSMEs) in Rwanda and throughout Africa.
The Memorandum of Understanding (MoU) was signed at BK TecHouse headquarters on Wednesday, June 7.
This collaboration aims to create a robust ecosystem that supports the growth and competitiveness of MSMEs in national, regional, and continental markets.
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The partnership between BK TecHouse and AeTrade Group will leverage innovative technology solutions to provide market linkages, digital payments, digital financing, and digital capacity-building for entrepreneurs, ultimately facilitating their meaningful access to the African Continental Free Trade Area (AfCFTA).
The CEOs of both companies expressed their enthusiasm for the partnership and its potential impact. Claude Munyangabo, CEO of BK TecHouse, emphasised their commitment to driving digital payments and financial inclusion for MSMEs across Africa. He highlighted the use of digital innovations to promote inclusion in digital payments, market access, and financial services, benefiting entrepreneurs and the wider economy.
"Both organisations are bringing their technological expertise to this partnership, we’re committed to ensuring that the integration of our respective technologies is completed before the end of this year.
"Following the integration, a pilot phase will be initiated, targeting a selected number of individuals and once the pilot phase is successfully completed, we’re expanding our reach to a wider audience,” Munyangabo said.
Mulualem Syoum, CEO of AeTrade Group, highlighted the importance of building technology-enabled regional value chains, particularly in the agribusiness sector.
"The partnership with BK TecHouse will contribute to the implementation of affordable digital and financial inclusion, enabling entrepreneurs to thrive and access the African Continental Free Trade Area,” he said.
The collaboration aligns with Rwanda’s digital transformation agenda and unlocks opportunities for the MSME sector.
One of the key focus areas of this collaboration is digital payments. BK TecHouse and AeTrade Group will collaborate to provide affordable multichannel instant cross-border payments to at least three million customers in Rwanda, with a focus on expanding market opportunities in East Africa and beyond. This will enable entrepreneurs to seamlessly conduct business transactions and explore new markets.
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Another significant aspect of the partnership is the development of an end-to-end digital finance solution. BK TecHouse and AeTrade Group will work together to create a comprehensive digital finance ecosystem that enables financial inclusion for underserved customers and streamlines loan lifecycle management for financial institutions. This will empower MSMEs to access the necessary financial services and resources for their growth and development.
Dr Charles Murigande, a board member at AeTrade Group, emphasised the significance of the partnership in facilitating market linkages for Rwanda’s agricultural products. Through Sokokuu, a Pan African e-commerce platform, this collaboration will open doors for MSMEs to access expanded market opportunities. By connecting with local, regional, and continental markets, MSMEs will be able to tap into new revenue streams and broaden their customer base.
In addition, BK TecHouse and AeTrade Group will collaborate to provide essential financial services, technological exchange, and capacity-building programmes for MSMEs.
"This holistic approach aims to equip entrepreneurs with the necessary skills, knowledge, and resources to thrive in the digital economy. By enhancing the capabilities of MSMEs, the partnership aligns with the strategic vision of the Government of Rwanda and the AU Summit decision to fast-track digital and financial inclusion,” Murigande said.
The partnership between BK TecHouse and AeTrade Group represents a significant step towards realising the vision of a digitally empowered Africa.
About BK TecHouse and AeTrade Group
BK TecHouse Ltd is a leading technology solutions provider and member of BK Group Plc. Their range of in-house products and services, including UrubutoPay, Urubuto Education System, Smart Nkunganire System (SNS), Smart Kungahara System (SKS), and Kiliziya Yacu, have been delivering cutting-edge solutions since 2015.
The African E-Trade Group (AeTrade) is a multi-stakeholder group of African professionals and businesspeople dedicated to enhancing intra-and inter-African trade. Their vision is to develop and implement e-empowerment programmes that leverage the power of information and communication technologies (ICTs) for the benefit of Africa’s present and future entrepreneurs.