The Chairman of the Board of Directors of Bank of Kigali (BK) Group, has visited the BK Foundation, some of programs supported by the foundation in order to promote entrepreneurship, financial literacy but also get a gist of the foundation’s impact in Rwanda.
BK Foundation was established in January 2023 by BK Group with a mission to give back to the Rwandan community. BK Foundation focuses on three key pillars: education, innovation, and environmental conservation.
Through these initiatives, BK Foundation aims to empower communities, support sustainable development, and foster innovation. Its impact is seen in improved access to education, the promotion of innovative solutions, and efforts toward preserving the environment, contributing to the overall growth and well-being of the Rwandans.
As the new BK Group Chairman, Jean Philippe Prosper held the visit this Wednesday, 28th August 2024 where he focused on the beneficiaries of the BK Urumuri Initiative (Afia Pharmacy, Byose Ni Bamboo) and had a one-on-one chat with a youth debate boot camp (Dreamers Academy Camp 2024) organized by iDebate Rwanda- a BK Foundation’s financial literacy partner.
Jean Philippe Prosper
The BK Urumuri Initiative (now in its 7th edition) is a long-standing program providing interest-free loans and comprehensive business development services to local entrepreneurs. Since its inception, the program has supported 225 entrepreneurs, contributing to economic growth and innovation.
One of the beneficiaries, Papy Biganza, the Managing Director of Afia Pharmacy-a leading pharmaceutical provider focused on offering online high-quality and affordable medications to patients with chronic diseases in Rwanda.
BK Group, BK Foundation, Inkomoko, and Afia Pharmacy officials in Kicukiro district
Biganza presented to the visiting BK Group and Foundation officials the state of the specialized business model and showcased the company’s expansion plans in 10 countries in the next five which he said will require more equity investment from BK and others.
“We were able to discuss financing for our expansion plans in the next five years. We started the prototype in Rwanda and we want to expand to DRC which has a big population (90million) and similar gaps of pharmaceutical accessibility and costs. The next will be Burundi and so far the road map (expansion) is in three countries,” Biganza said.
Papy Biganza
Afia Pharmacy indicated that their annual revenue, with operations only in Rwanda, has reached over $100,000 and the big plan is to increase that to $30million per year, banking on the current gaps in pharmaceutical supplies, access and costs in Africa.
BK Foundation’s partnership with iDebate Rwanda equips young Rwandans with essential financial literacy and entrepreneurship skills preparing youth for future financial independence through debate on various financial topics.
BK Group Chairman visiting Byose Ni Bamboo workstation in Masaka sector
BK Group Chairman also visited the “Byose Ni Bamboo”- is a women youth-led company, business located in Masaka sector, Kicukiro district, that specializes in creating arts and crafts using bamboo.
The enviro-friendly business, founded by Delphine Uwera, focuses on sustainable practices by transforming bamboo into unique, eco-friendly products. The company, a beneficiary of the BK Urumuri Initiative 2021 edition, not only promotes environmental conservation but also empowers young artisans (mostly women) by providing them with skills and opportunities to showcase their creativity.
Delphine Uwera can now smile thanks to the BK Urumuri Initiative loan of Rwf2M which has grown her business to over Rwf8M
“Since we received the BK Urumuri Initiative interest free loan of Rw2million, we have expanded our production, we have our own sources of raw materials and increased staffing. We are now seeking another loan to purchase more equipment, of which BK is willing to offer,” Uwera said.
Currently the business has increased investment to more than Rwf8million, staff from 5 employees to 28 who work on a permanent and temporary basis, however according to Uwera she is pursuing studies in environment management and conservation to improve the capacity of the business in terms of skills.
Ingrid Karangwayire
The Executive Secretary of BK Foundation, Ingrid Karangwayire said that there is evidence that the foundation’s activities have made impact to the Rwandan community and this gives the foundation a positive impact
At the debate camp, Prosper witnessed how students are developing critical thinking, financial management, and entrepreneurial abilities in a debating session that focuses on the pros and cons of financial equity.
Dreamers Academy Camp 2024 organized by iDebate Rwanda- a BK Foundation’s financial literacy partner.
