2008 new money meets Rwandans not ready

The end of every year resembles that of each working day for the largest supermarket in my neighbourhood. At the end of each working day here, the owner closes the entrance door and along with his husband and Petero Gatera, their cousin from the country, converge behind the counter. With Gatera remaining at the door to keep watch while the rest of the family sit behind the small counter to count the returns from the day’s sales. It’s otherwise called taking stock. As it is with every end of year we all go; ‘Happy New Year” and then follow the statement with the reminiscing about the last and the forecasts for the new one. We are like a super market to translate. The routine of the supermarket like that of every new year has been similar for a very long-while but the seriousness with which the family carries out this daily task makes it look like that is the first and last day for sales reconciliation. Albert Uwayesu, the husband, told me that if the universal issue in discussion is money, the lingua franca starts and ends with ‘utmost seriousness’ at every step. “Is life not about money?” he asked. New money is what Kigali has been experiencing since the beginning of 2008 and the results are there for all to see, the city is now abuzz with many Yuppies-Young Urban Professionals- moving around with laptop bags, while their younger colleagues are now in space and out of place. These are the teenagers, campusers who equipped with latest mobile phones and Ipods have left the verbose Africa. There are no more conversations in buses or restaurants. Everyone in the newest generation seems to be wearing earphones listening to downloaded music from the internet. This is the Kigali of ICT, and yes, that is the story of Kigali now, new money, new kids and newer laptops. And like Uwayesu said, Kigali has been about money this year, not only has the number of banks from foreign lands increased their presence here, the new banks have also sparked a competition for attraction in the city centre. BK was the first to set up an ultra modern office block-if you ignore Ecobank, then Finabank, then BCR and even Banki Ya Baturage is following suit. It is not just in the blocks alone that the banks are competing, their managers are busy behind their flashy glass windows devising means with which to attract Rwandans to start up business plans that the banks are ready to fund. Yes, it is official Rwanda’s commercial banks are lamenting that they have too much money in their coffers which Rwandans are not borrowing it to create business enterprises that will in turn create more money. As a remedy the banks started a program in 2008 whereby customers are given incentives to design good business plans that can be funded by the banks, all the customers need to have is good business acumen to present a plan. Three of the customers that entered the most recent business plan competition and failed met up with Kigali Notes’ good old correspondent Matu Sikiofupi who captured their lamentations and recounts them below: Mchizi: I designed a good plan. I wanted to open up a bar and saloon and I wanted some of the rooms in my house as premises for the enterprises. However, the bank panel threw my plan out and never offered me an explanation. They said this is not a good plan. Now I have asked them to assist me learn how to make good plans. Taperi: What were you doing going for business competitions when you know that you have never entered leave alone won any competition in your life. There has been a lot of money coming into Kigali this year and I mean big money, if you want some of it the bank is not the place to go. I suggest you try entering one of the ‘Ishyirahamwe’ (Association). There, you will get money without straining your little brain. Eti business plan!!! Bonfrere: I suggest that we try going to Kenya to look for work there so you can save and start your business without mocking yourself with bank competitions. Have you not heard that Kenya this year allowed us the opportunity for employment there without paying any taxes? This has been a great year to be in Rwanda and even greater if you are in Kigali. Ends