FEATURED: Bank of Kigali Connects with Women Entrepreneurs Through Kataza na BK: A Collateral-Free Loan Solution

Bank of Kigali Plc connected with women entrepreneurs in Rwanda through ‘Kataza Na BK,’ a loan designed to empower women-led businesses. On Wednesday, October 2, Bank of Kigali held a forum to provide further insights into this unsecured stock loan, which offers vital support to women entrepreneurs without requiring collateral Kataza Na BK provides up to Rwf15 million, with a two-year repayment period and minimal documentation needed for the application process. Eligible businesses must be women-led, registered with the Rwanda Development Board (RDB), operating for at least one year, and free from existing loan commitments. Approximately 200 women entrepreneurs attended the forum, receiving key information about the loan’s benefits and how it could support their business growth. ALSO READ: BK Group Plc records Rwf23.9 bn net profit in first quarter of 2024 Darius Mukunzi, Head of SME at Bank of Kigali, underscored the bank’s commitment to supporting women in entrepreneurship by addressing their unique challenges. He emphasized that the bank not only offers loans but also equips women with the skills they need to succeed in their ventures. “We developed Kataza Na BK with women in mind, recognizing their limited access to finance and the hurdles they encounter in business,” Mukunzi stated. “Our goal is to provide accessible financial services that empower women to purchase stock, acquire equipment, and expand their businesses.” Mukunzi also noted the challenge many women entrepreneurs face due to operating informally. “Many women are successfully running informal businesses, but this makes it difficult for banks to offer financial support,” he explained. “We encourage women to formalize their businesses by registering and paying taxes, which will allow banks to better assist them.” ALSO READ: Six honoured as BK Ingenzi Club launches, offering exclusive benefits to longtime clients Anita Mukamwezi, a businesswoman specializing in sports clothing, shared her positive experience with the Kataza Na BK loan, expressing how it contributed to her financial stability. I used to fear taking out a loan because I always worried about collateral, and I had nothing to offer, Mukamwezi explained. That’s why I started with their 5 million Rwf loan. Once I completed that, they offered me a loan of 15 million Rwf with Kataza Na BK. Now, I can travel for business, all thanks to BK. Mukamwezi highlighted the supportive nature of the Bank of Kigali, noting their understanding of the challenges businesses face. BK understands that business has its ups and downs. They check in, ask about any difficulties, and work with you to grow your business and ensure you can repay the loan. She also reflected on how the loan transformed her business and personal life. With the loan, I was able to buy a house, a car, and even travel to China and Dubai for business. I used to be afraid of such trips, thinking they were too costly. That’s why I encourage all women to consider taking out a loan to grow their businesses. ALSO READ: BK Capital introduces Tekana Personal Pension Scheme: A step towards financial security Jeannette Mukamurenzi, a long-time client of Bank of Kigali, attended the forums to learn more about Kataza Na BK. As an entrepreneur, she sees the loan’s lack of collateral requirement as a significant advantage for women. Many women hesitate to take loans because of the collateral requirement, so this initiative is truly motivating, Mukamurenzi said. I believe having a loan encourages entrepreneurs to work harder to repay it and grow their businesses. I’m excited about this opportunity and can’t wait to receive it. To further empower women with Kataza Na BK, Bank of Kigali plans to host regional forums in Muhanga, Rubavu, Musanze, Kayonza, and Gicumbi, ensuring the initiative reaches more women entrepreneurs across the country.

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FEATURED: Bank of Kigali Connects with Women Entrepreneurs Through Kataza na BK: A Collateral-Free Loan Solution