Kigali, March 8, 2024 – BK Foundation, in partnership with Inkomoko, is thrilled to announce the commencement of the 8th edition of the BK Urumuri Initiative. This groundbreaking six-month business accelerator programme is designed specifically to support 25 visionary women entrepreneurs in Rwanda, underlining the theme for 2024: “Empowering Women Entrepreneurs”.

BK Urumuri Initiative underscores the BK Foundation'’s commitment to driving meaningful change and promoting gender equality within the business ecosystem. By offering a comprehensive suite of support including financial management training, one-on-one coaching, consulting, investment readiness, and access to finance through the Bank of Kigali, the initiative aims to elevate the entrepreneurial journey of Rwandan women.

Selected entrepreneurs will receive:

· A cost-free six-month business accelerator programme from Inkomoko. The programme includes training in financial management, tailored one-on-one coaching and consulting, and investment readiness.

· An opportunity to access an interest-free loan (0%) from the Bank of Kigali.

· Eligibility to apply for funding from Inkomoko Capital and Inkomoko’s investment fund

· Eligibility to join Inkomoko’s network of MSMEs across different locations and industries.

Ingrid Karangwayire, Executive Secretary of the BK Foundation, emphasised the transformative impact of the initiative, stating, “Investing in women is not just about advancing gender equality; it's about leveraging untapped potential to drive economic growth and innovation. Women entrepreneurs are not just business leaders; they are the architects of a more equitable and thriving society. Through the BK Urumuri Initiative, we’re committed to equipping women entrepreneurs with the training, skills in financial investment, interest-free loans, and support they need to thrive and contribute to Rwanda's development.

Helle Dahl Rasmussen, Inkomoko Rwanda Business Growth Services Director added: “Our partnership with BK Foundation this year will focus on empowering women entrepreneurs nationwide to grow their businesses and hire more women. By providing them with tailored support and business guidance, we will make them investment-ready, enabling them to scale up their businesses and thrive.”

To be eligible to apply for BK Urumuri Initiative 8th edition, entrepreneurs must meet the following requirements:

Must be a woman.

Must have annual sales revenues of not more than Rwf 100 million

Must have been operating for at least one year.

Business must be owned or co-owned by a woman.

Must demonstrate financial profitability or plan to reach profitability within two years.

Must demonstrate the ability to pay back the interest-free loan.

Must be innovative and aim to solve a pressing issue in society.

Must not be a previous winner or participant of the BK Urumuri program.

The business owner must be a Rwandan citizen or permanent resident living in Rwanda.

Note:

Women entrepreneurs with disabilities are strongly encouraged to apply.

Companies with a positive social and environmental impact are encouraged to apply.

Must have a clean CRB

Must submit 12 Months account statement from Momo If used for payment acceptance.

Apply TODAY at www.inkomoko.com or contact 5070 for more information.

The application deadline is April 8, 2024.

About BK Foundation

Launched in 2023, the BK Foundation is the philanthropic arm of the Bank of Kigali Group, Rwanda’s premier financial institution. It is dedicated to catalysing societal progress through strategic investments in education, innovation, environmental conservation, and financial literacy. By partnering with impactful organisations and leveraging data-driven approaches, the foundation aims to address critical needs and foster sustainable development in Rwanda.

About Inkomoko

We are a consulting firm that supports micro and small enterprises across Africa so that they can grow to create jobs, improve livelihoods, and create thriving communities. We started our work in Rwanda twelve years ago and have now opened offices in Kenya, Ethiopia, and South Sudan.

We provide entrepreneurs with business development services, including sales and marketing, branding, bookkeeping, inventory management, taxes, etc. We offer them one-on-one consulting so that they can put these lessons into practice. Through our in-house investment fund, we offer financing to grow these businesses. Ultimately, our work is to help some of these African entrepreneurs improve their lives, create jobs for others in their communities, and be strong economic contributors to their communities. For more information about Inkomoko, visit: www.inkomoko.com

For media inquiries, please contact:

BK Foundation

KN 4 Ave, Kigali/Rwanda, No12 Plot No 790

P.O. Box 175, Kigali/RW

Phone: (250) 788 143 000

Email: bkfoundation@bk.rw

Inkomoko

Emmanuel Gashagaza,

Senior Business Development Advisor

Phone: 0788699256