Supporting Your Business Series: A Discussion with the Microfinance Sector

Supporting Your Business Series

A Discussion with the Microfinance Sector

Join us on Facebook on June 18th for a live discussion with key stakeholders from the microfinance sector!

From 3:00 pm -4:15 pm on Thursday, June 18th, join the SME Response Clinic on Facebook for a live webinar with key stakeholders from the Rwandan microfinance sector hosted by Access to Finance Rwanda and the Association of Microfinance Institutions in Rwanda (AMIR).

You can join simply by opening up the SME Response Clinic page on Facebook at 3pm on June 18th. It will be your chance to learn more about the microfinance sector’s response to support SMEs during the COVID-19 pandemic.

The SME Response Clinic’s goal is to provide more information to SMEs in Rwanda during the pandemic. The Clinic’s partners know that many small businesses are struggling with lack of cash flow, repayment of loans, and an uncertain future right now.

An important part of the response is already coming from the microfinance sector and other institutions. There are products and services in place that are meant to aid with issues of working capital, reduced revenue and liquidity. The key to managing a business and surviving the pandemic will be to stay informed, stay safe, and know what is available to you as a business person – especially if you operate in a hard-hit industry like tourism, hospitality or transport.

During the webinar, you will learn about products and services available from the microfinance sector. You will have the opportunity to ask questions and interact with:

  • Jules Théoneste Ndahayo, Chief Executive Officer, UFC PLC and Chairman of the AMIR Board of Directors
  • Laurence Uwambaje, Director General, UMWALIMU SACCO
  • Grace Dushimimana, Chief Executive Officer, VisionFund Rwanda
  • Aimable Nkuranga, Executive Director, Association of Microfinance Institutions in Rwanda

This webinar will be held primarily in English and will be moderated by Frank Baguma, Programs Officer, MFIs & SACCOs Development at Access to Finance Rwanda.

Please join us for this important event!


I am afraid that I will overdraw from my current account since my cash flow is low right now. What can I do?

I am afraid that I will overdraw from my current account since my cash flow is low right now. What can I do?

Ask your Bank, SACCO or MFI about an “overdraft facility.” An overdraft facility is a line of credit provided by banks to individuals and businesses. This facility allows an account holder to use more funds than are effectively available in their current account with the bank.

Some banks grant this facility to the customer’s savings account as well. The unique factor here is that interest is charged only for the money you use and for the number of days you use it, unlike a loan, where you pay interest every month on the loan amount.

Let us understand the working of an overdraft facility with an example:

HOW DOES AN OVERDRAFT FACILITY WORK?

Suppose XYZ Ltd. has a current account with Y Bank.

  • XYZ Ltd. deposits Rwf 1,000,000 in its current account at Y Bank on 1st April 2020.
  • The company has done some analysis and forecasts and found that it will need extra cash over and above Rwf 1,000,000 in the month of April due to COVID-19 impact.
  • To make sure it can stay afloat, XYZ Ltd. applies to Y Bank for an overdraft facility up to RWF 1,500,000, which is granted by the bank at 12% rate of interest per annum for one year.
  • On 15 April 2020, XYZ Ltd. is due to pay RWF 1,300,000 to a creditor. As it does not have extra cash available, it utilizes the bank overdraft facility and makes the payment.

 Here is how the repayment process works between the bank and the client:

  • Out of RWF 1,300,000 – RWF 1,000,000 is XYZ Ltd.’s own money & RWF 300.000 is used from overdraft facility and belongs to Y Bank.
  • The interest will be charged on Y Bank’s money, the RWF 300,000, only for the number of days it is overdrawn.
  • Say, if XYZ Ltd. receives a payment from a client on the 30th April and now has some cash, they will deposit the RWF 300, 000 in their Y Bank account.
  • The interest is only charged for 15 days on RWF 300,000 and XYZ Ltd. can use this facility for one year and request the bank to renew if it continues to make credible transactions.

How can I access an overdraft facility? Talk with your Bank, SACCO or MFI to find out what is available for you and your accounts. You can then apply for the amount of overdraft that you need, and for which you qualify.

 

Mfite impungenge ko amafaranga nzayamara kuri konti itunguka kubera ko igipimo cy’amafaranga yinjira n’asohoka kiri hasi muri iki gihe. Nakora iki?

Baza Banki yawe, SACCO cyangwa Ikigo cy’Imari Iciriritse (MFI) ibyerekeye “inguzanyo yihuse.”. Inguzanyo yihuse ni inguzanyo banki iha abantu ku giti cyabo n’ibigo by’ubucuruzi. Iyi nguzanyo ituma ufite konti akoresha amafaranga arenze ayo afite kuri konti ye itunguka iri muri banki.

Amabanki amwe n’amwe ashyira iyi inguzanyo no kuri konti yo kuzigama y’umukiriya.  Impamvu yihariye kuri uru rugero ni uko inyungu ibarwa gusa ku mafaranga ukoresha no ku mubare w’iminsi uyakoresheje, bitandukanye n’inguzanyo kuko yo wishyura inyungu buri kwezi ibarwa hashingiwe ku mubare (ingano) w’inguzanyo.

Twifashishe urugero kugira ngo turusheho gusobanukirwa uko inguzanyo yihuse ikora:

INGUZANYO YIHUSE IKORA ITE?

Dufate ko hari sosiyete yitwa XYZ Ltd.  Ifite konti itunguka muri Banki.

  • Isosiyete XYZ Ltd. yabikije 1.000.000 Frw kuri konti yayo itunguka iri muri Banki Y ku itariki ya 01/04/2020.
  • Iyi sosiyete yakoze isesengura n’imibare y’agateganyo maze isanga izakenera andi mafaranga arenze 1.000.000 Frw mu kwezi kwa Mata kubera ingorane zatewe n’Icyorezo cya COVID-19.
  • Kugira ngo yizere ko izabasha gukomeza ibikorwa byayo, Isosiyete XYZ Ltd yasabye Banki yitwa Y inguzanyo yihuse igera ku 1.500.000 Frw, maze Banki iyiha inguzanyo ku ijanisha ry’inyungu rya 12 % ku mwaka ikazishyurwa mu mwaka umwe.
  • Tariki ya 15 Mata 2020, Isosiyete XYZ Ltd igomba kuzishyura uwo ibereyemo umwenda amafaranga 1.300.000    Kubera ko nta yandi mafaranga ifite,  irakoresha inguzanyo yihuse ihawe na banki kugira ngo ibashe kwishyura.

 Dore uko uburyo bwo kwishyura bukorwa hagati ya banki n’umukiriya wayo:

  • Mu 1.300.000 Frw hazavanwamo ( – ) 1.000.000 Frw kuko ari wo mubare w’amafaranga Isosiyete XYZ Ltd ifite naho 300.000 Frw akoreshwe avuye ku nguzanyo yihuse abe ari umutungo wa Banki Y.
  • Inyungu zizabarwa gusa ku mafaranga ya Banki Y, ariyo 300,000 Frw , ku mubare w’iminsi inguzanyo yihuse izamara.
  • Tuvuge ko, niba XYZ Ltd yishyuwe n’umukiriya ku wa 30 Mata none akaba hari amafaranga afite, azashyira kuri konti ye iri muri Banki Y, umubare w’amafaranga ungana na 300. 000 Frw.
  • Inyungu zibarwa gusa ku minsi 15 ku mafaranga 300.000 maze isosiyete XYZ Ltd ikabasha gukoresha iyi nguzanyo yihuse mu gihe cy’umwaka ndetse igasaba banki kongera kuyiha indi nguzanyo niramuka ikomeje kwizerwa mu bikorwa byayo na Banki.

Ni gute nshobora kubona inguzanyo yihuse? Egera Banki, SACCO cyangwa Ikigo cy’Imari Iciriritse (MFI) mukorana umenye serivisi wemerewe n’uko konti yawe ihagaze. Hanyuma, ushobora gusaba umubare w’inguzanyo yihuse ukeneye, kandi wemerewe guhabwa.


I have a good (positive) credit rating, but I need more money to be able to keep my business afloat during the COVID-19 pandemic. Is there any type of loan that would help with this?

I have a good (positive) credit rating, but I need more money to be able to keep my business afloat during the COVID-19 pandemic. Is there any type of loan that would help with this?

A “line of credit” or “cash credit line” is a pre-approved loan with a specific borrowing limit based on the creditworthiness of the client. The better your credit, the more you may be able to borrow.

A line of credit allows borrowers to obtain credit without re-applying each time they need a loan as long as the total of borrowed funds does not exceed the credit limit. It helps a business stay liquid during a difficult time, like that we are experiencing now.

For example, if you are allowed a line of credit of Rwf 5 million you will be able to withdraw up to Rwf 5million from that line if you are .

A line of credit, like a traditional loan, will come with monthly payments and an interest rate, so keep that in mind if you decide to apply for one. There are lines of credit available for both businesses and individuals.

How do I get a line of credit or a cash credit line? Talk with your Bank, SACCO or MFI to find out more about the products they offer. If you are not currently a client, you can reach out to any institution to learn more about what they offer.

Most will require you to submit an application along with important documents like financial statements, cash flow projects and your trade license, so make sure you have your papers in order.

Mfite ubushobozi bwo kwishyura umwenda, ariko nkeneye andi mafaranga kugira ngo ubucuruzi nkora bukomeze kugenda neza muri iki gihe cy’Icyorezo cya COVID-19.  Ese hari ubwoko bw’inguzanyo yamfasha kubigeraho?

“Kwemererwa inguzanyo” cyangwa “Guhabwa inguzanyo” ni inguzanyo uba usanzwe wemerewe iherekejwe n’igipimo cyihariye ntarengwa kigenwa hashingiwe ku cyizere banki ifitiye umukiriya. Uko icyizere umukiriya agirirwa kirushaho kuzamuka, ni nako arushaho kwemererwa inguzanyo.

Kwemererwa inguzanyo bituma abagurizwa babona inguzanyo batabanje kongera kubisaba buri gihe bazikeneye, igiteranyo cy’umubare w’inguzanyo basabye banki gipfa kutarenga igipimo kigenwe cy’inguzanyo bemerewe. Bituma ikigo cy’ubucuruzi gikomeza kubona amafaranga no mu bihe bikomeye, nk’ibyo duhanganye na byo muri iki gihe.

Urugero: niba wemerewe inguzanyo ya miriyoni eshanu ( 5.000.000 Frw), uzaba wemerewe kubikuza kugeza kuri miriyoni 5 kuri iyo nguzanyo niba uyemerewe.

Inguzanyo wemerewe, nk’uko bigenda ku nguzanyo dusanzwe tuzi, igira umubare w’amafaranga yishyurwa buri kwezi ndetse n’ijanisha ry’inyungu zayo. Bizirikane rero, nufata icyemezo cyo gusaba iyo nguzanyo. Hari inguzanyo zemererwa ibigo by’ubucuruzi n’izemererwa abantu ku giti cyabo.

Ni gute nakwemererwa inguzanyo cyangwa ngahabwa inguzanyo? Egera Banki, SACCO cyangwa Ikigo cy’Imari Iciriritse (MFI) bakubwire ubwoko bw’inguzanyo batanga. Niba muri iki gihe utari umukiriya, ushobora kugana ikigo cy’imari icyo aricyo cyose kugira ngo umenye byinshi kuri serivisi gitanga.

Ibigo byinshi bizagusaba kwandika ibaruwa isaba iherekejwe n’inyandiko za ngombwa nk’ishusho y’ibaruramari, imibare y’agateganyo y’amafaranga yinjira n’asohoka n’icyemezo cy’iyandikwa ry’ikigo cy’ubucuruzi, ugomba rero kubanza gushyira inyandiko zose za ngombwa ku murongo.


If I am completely unable to repay my loan for a period of time – like the current COVID-19 pandemic – what can I do?

If I am completely unable to repay my loan for a period of time – like the current COVID-19 pandemic – what can I do?

If you are unable to repay a loan for a period of time, there is a process called a “moratorium period” or “loan repayment holiday” that is designed to help. A moratorium period is a period of time during a loan term when the borrower is not obligated to make a payment. It is a waiting period before the borrower starts making fixed monthly payments.

How can I access a moratorium if I need to do so? First, communication with your Bank, SACCO or MFI and your loan officer is very important. Talk with your loan officer about the options available for a moratorium and the process you need to follow if you are in a situation where you cannot repay your loans.

You can agree together with your bankers as to whether you will take a principal holiday, an interest holiday or both. This means, for example, that you can agree to pay only the interest or only principal during your moratorium period, or not pay anything at all till the agreed time. Due to the COVID-19 and its impact on businesses, many banks in Rwanda are offering loan moratoriums of 3 to 6 months.

Kindly note that interest accrues during the moratorium period and the borrower must pay it, unless your bank agrees to waive it.

Niba maze igihe narananiwe kwishyura inguzanyo natse, nko muri iki gihe igihugu gihanganye n’icyorezo cya COVID-19, Ni iki nakora?

Niba umaze igihe waraniwe kwishyura inguzanyo, hari uburyo bwashyizweho bwitwa “Ugusubika igihe cy’ubwishyu bw’inyungu ku nguzanyo” cyangwa “Gusubikirwa kwishyura inguzanyo” bugamije gufasha ababereyemo umwenda za banki. Igihe cyo gusubikirwa ubwishyu bw’inyungu ni igihe  kivanwa mu gihe kirekire inguzanyo yishyurwamo aho uwagurijwe aba adategetswe kwishyura. Ni igihe uwagurijwe aba ategereje mbere yo gutangira kwishyura umubare wagenwe buri kwezi.

Ni gute nasubikirwa igihe cy’ubwishyu bw’inyungu ku nguzanyo mu gihe mbyifuza? Icya mbere ni ukuvugana na Banki, SACCO cyangwa Ikigo cy’Imari Iciriritse (MFI)  kandi umukozi ushinzwe inguzanyo mu kigo ubereye umukiriya azabigufashamo. Egera umukozi ushinzwe inguzanyo akugezeho uburyo buhari wahitamo kugira ngo usubikirwe igihe cy’ubwishyu n’inzira ugomba gukurikiza niba uri mu bihe bituma utabasha kwishyura inguzanyo watse.

Ushobora kumvikana na banki mukorana niba uhitamo kuba usubikiwe igihe cy’ubwishyu bw’inguzanyo y’ibanze, inyungu ku nguzanyo, cyangwa se byombi. Bisobanuye ko ushobora kwemeranya na banki kuba wishyura inyungu ku nguzanyo gusa cyangwa ukaba wishyura inguzanyo, muri icyo gihe usubikiwe igihe cy’ubwishyu, cyangwa kutagira na kimwe wishyura kugeza igihe mwumvikanyeho kirangiye. Kubera Icyorezo COVID-19  n’ingaruka cyagize ku bigo by’ubucuruzi, amabanki menshi mu Rwanda arimo gufasha abakiriya bayo abasubikira igihe cy’ubwishyu bw’inyungu ku nguzanyo mu gihe cy’amezi 3 kugeza kuri 6.

Mwibuke ko inyungu zikomeza kubarwa no mu gihe umara usubikiwe igihe cy’ubwishyuku nyungu kandi ko uwagurijwe agomba kuzazishyura, keretse banki yemeye kuzimuvaniraho.


If my business is facing cash flow problems and financial distress and I am having trouble repaying my loan, what can I do?

If my business is facing cash flow problems and financial distress and I am having trouble repaying my loan, what can I do?

There is a process called “loan restructuring” or “debt restructuring,” which is designed to help a business in distress to reduce and renegotiate delinquent loan debt and to restore liquidity so that the business can continue its operations.

With your Loan Officer, you may agree to different kinds of solutions to alleviate or easy your credit repayment burden and stabilize the financial situation by:

  • Changing the amount you repay each month. By changing the method of loan repayment involves a reduction of your current monthly loan installment so that it matches your current cash flow. This may include reduction of current debt, or may include the below.
  • Extending the term of your loan agreement. You can also extend your loan agreement so that your monthly payments are redistributed in proportion to a new and longer term of lending. This means that you will repay your loan over a longer period of time, but your payments will be smaller to help you deal with lower revenues. It should be noted some banks may charge a small fee for this facility.

How can I restructure my loan? To restructure your loan debt, first, you should speak with your loan officer to clarify your situation and create a plan. You will then need to write to your Bank, MFI or SACCO and submit an application for the restructuring together with the documents that prove your identity and available documents representing your financial situation.

Through loan restructuring you will be able to maintain a positive credit history and stay in good standing with your financial service provider.

Niba ubucuruzi nkora bubangamiwe n’ibibazo bigaragarira mu gipimo cy’amafaranga yinjira n’asohoka no kuba imari ihagaze nabi bikabije nkaba ntabasha kwishyura inguzanyo, nakora iki?

Hari uburyo bukoreshwa twita “kuvugurura inguzanyo” cyangwa “kuvugurura umwenda,” bugamije gufasha ikigo kiri mu kaga kugabanya inguzanyo itishyurwa no kongera kumvikana ku buryo bwo kwishyura umwenda ukomoka ku nguzanyo imaze igihe itishyurwa no kubasha kongera amafaranga abitse ku buryo ikigo cy’ibucuruzi gishobora gukomeza ibikorwa byacyo.

Ubifashijwemo n’Umukozi ushinzwe Inguzanyo, mushobora kumvikana ku bwoko butandukanye bw’ibisubizo bifasha koroshya cyangwa kugabanyirizwa umuzigo wo kwishyura inguzanyo wahawe ku buryo ikigo cyawe gikomeza kugira imari ihagaze beza nticyongere guhungabana. Dore uburyo bukurikira bwo kubonera ikibazo umuti:

 

  • Guhindura umubare w’amafaranga wishyura buri kwezi. Guhindura uburyo bwo kwishyura inguzanyo bituma haba igabanuka ry’umubare w’inguzanyo usanzwe wishyura buri kwezi ku buryo uhwana n’amafaranga winjiza n’ayo usohora muri iki gihe. Ubu buryo bushobora kubamo igabanuka ry’umwenda ufite muri iki gihe, cyangwa hagatoranywa uburyo bukurikira.
  • Kongera igihe amasezerano y’inguzanyo amara. Ushobora kandi kongera amasezerano y’inguzanyo watse ku buryo umubare wishyura buri wezi usaranganywa mu gihe cyumvikanyweho hakurikijwe igihe gishya cyangwa kirekire uzishyuramo inguzanyo wahawe. Bisobanuye ko uzishyura inguzanyo yawe mu gihe kirekire, ariko ukazashya wishyura make kugira ngo bigufashe kwimenyereza kubaho mu buzima kandi amafaranga winjizaga yagabanutse. Bigomba kumvikana ko amwe mu mabanki ashobora kugira amafaranga make akwishyuza kubera iyi serivisi uhawe yo kukorohereza.

Navugurura nte inguzanyo yanjye? Kugira ngo ubashe kuvugurura umwenda ukomoka ku nguzanyo watse, mbere na mbere ugomba kubiganiraho n’umukozi ushinzwe inguzanyo kugira ngo umusobanurire neza uko ikibazo cyawe giteye maze mushyireho gahunda y’uburyo uzishyura. Bizagusaba kwandikira Banki yawe, Ikigo cy’Imari Iciriritse (MFI) cyangwa SACCO ubishyikiriza ibaruwa usaba kuvugurura inguzanyo, iherekejwe n’inyandiko zigaragaza umwirondoro wawe n’inyandiko ufite  zerekana uko ishusho y’imari yawe ihagaze.


(UPDATE) What is the current policy on taxes during the COVID-19 pandemic?

UPDATE June 1st, 2020

Taxation

What is the current policy on taxes during the COVID-19 pandemic?

Answer: Do not fear! The Government of Rwanda is taking action to help small and medium businesses right now. The Rwanda Revenue Authority is offering most services online – to keep you safe, and to keep you from having to move during a time when it is important to stay at home.

UPDATE: The Rwanda Revenue Authority (RRA) announced on May 29th, 2020, that for all taxpayers with an obligation to submit certified financial statements for 2019, the deadline for submission has been extended from May 31st, 2020 to June 30th, 2020. After this, payment deadlines will return to normal.

Here is more important information:

  • As of May 11th, 2020, computation of your quarterly payments for Corporate Income Taxes (CIT) and Person Income Tax (PIT) will be based on transactions of the current year.
  • Transport motor vehicles are required to pay their quarterly fixed PIT this year, pro-rated to the period of operation.
  • Pay As You Earn (PAYE) will be waived for a period of three months from April to June 2020 for employees in the tourism and hotel sector and are earning up to 150,000 RWF net salary.
  • PAYE will also be waived for a period of six months from April to September for teachers in private schools earning up to 150,000 RWF net salary.
  • All masks made in Rwanda to help prevent COVID-19 are exempt from value-added tax (VAT).
For more information on what the government is doing to support businesses in handeling with taxes, please visit https://www.rra.gov.rw/

Be Safe! Make sure you find out about the tax requirements for your small or medium business, to help you keep your business afloat during these difficult times. And stay healthy!

References:

Rwanda Revenue Authority Public Announcement – May 29th, 2020

Ministry of Finance and Economic Planning Public Announcement – May 9th, 2020

Rwanda Announces Tax Exemptions to Support Economic Recovery Amid COVID-19 – CGTN News, May 10th, 2020

Tariki ya 1 Kamena 2020: Amakuru mashya arebana n’imisoro 

Ni ayahe mabwiriza agenga imisoro muri ibi bihe by’icyorezo cya COVID-19? 

Igisubizo: Humura! Leta y’u Rwanda yafashe ingamba zo gushyigikira abakora ibikorwa by’ubucuruzi buto n’ubuciriritse muri ibi bihe. Serivisi hafi ya zose z’Igiko cy’imisoro n’amahoro (RRA) zitangirwa kuri interineti, mu rwego rwo kubungabunga ubuzima bw’abantu no kubarinda gukora ingendo muri iki gihe basabwa kuguma mu rugo. 

AMAKURU MASHYA: Ku itariki ya 29 Gicurasi 2020, Rwanda Revenue Authority 

yatangarije abasoreshwa bose ko itariki ntarengwa yo gutanga ibitabo by’ibaruramari 

byamejwe byo mu mwaka wa 2019, yavuye ku ya 31 Gicurasi 2020, ikimurirwa ku ya 30 

Kamena 2020. Nyuma y’iyo tariki, igihe ntarengwa cyo kwishyura kizasubira uko byahoze. 

Zirikana ibi: 

  • Kuva ku itariki ya 11 Gicurasi 2020, kubara avansi y’umusoro ku nyungu z’ibigo (CIT) n’umusoro ku nyungu z’abantu ku giti cyabo (PIT) bizashingirwa ku byacurujwe muri uyu mwaka.
  • Abafite ibinyabiziga bikora imirimo ibyara inyungu bazishyura avansi y’umusoro ku nyungu, hashingiwe ku gihe batangiriye gukora.
  • Igihe cyo gusonera umusoro ku bihembo (PAYE) abakozi bo mu bigo by’ubukerarugendo n’amahoteri bahembwa amafaranga 150.000 (umushahara utahanwa) cyongeweho amezi atatu, ni ukuvuga kuva muri Mata kugeza muri Kamena 2020.
  • Nanone igihe cyo gusonera umusoro ku bihembo (PAYE) abarimu bo mu bigo by’abikorera bahembwa amafaranga 150.000 (umushahara utahanwa) kizongerwaho amezi atandatu, ni ukuvuga kuva muri Mata kugeza muri Nzeri 2020.
  • Udupfukamunwa twose dukorerwa mu Rwanda hagamijwe kwirinda COVID-19 dusonewe umusoro ku nyongeragaciro (VAT).

Itangazo rya Rwanda Revenue Authority– 29 Gicurasi 2020 

Mwizere mudashidikanya ko Leta y’u Rwanda ikora ibishoboka byose ngo abacuruzi boroherezwe kwishyura imisoro. Niba hari ibindi ushaka kumenya cyangwa gusobanuza ku bucuruzi bwawe, jya kuri https://www.rra.gov.rw/.  

Rinda ubuzima bwawe! Niba ukora ubucuruzi buto cyangwa ubuciriritse, menya amabwiriza y’imisoro agenga ubucuruzi bwawe kugira ngo budahungabana muri ibi bihe bidasanzwe. Nanone kandi, komeza kwita ku buzima bwawe! 

Aho byavuye:
Itangazo rya Minisiteri y’Imari n’Igenamigambi – 9 Gicurasi 2020 

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Ingamba u Rwanda rwafashe zirebana n’imisoro no gushyigikira ubukungu mu bihe by’icyorezo cya COVID-19 – CGTN News, 10 Gicurasi 2020 


Reboot & Adapt Your Business: Innovation in the “New Normal”

With the aim of equipping businesses with practical tools to face challenges brought by COVID-19, African Management Institute (AMI) is conducting a FREE COVID -19 Business Survival Bootcamp. This short learning programme focuses on Reboot & Adapt Your Business: Innovation in the “New Normal” with practical tools and strategies for quickly adapting your products and business.

The bootcamp is designed specifically for business owners and entrepreneurs. Attendance is restricted at these sessions to keep them highly interactive, so please only sign up if you’re an entrepreneur (AMI will be organizing separate webinars for managers and leaders). Please share with other entrepreneurs and business owners in your network.

SCHEDULE

9th July 2020 at 1030hrs (Kigali) / English | Open

Sign up!

Have questions? Please email smeresponseclinic@gmail.com

“This initiative that has helped us through business counseling and support during this pandemic, COVID-19.  We need it because it is not easy to work in this period. I am hopeful that we shall overcome. ”

Marume O.M., the Managing Director of Gout Africaine Ltd / Africano Restaurant in Huye.


How is Rwanda Bankers Association supporting its members in this time of crisis?

How is Rwanda Bankers Association supporting its members in this time of crisis?

The SME Response Clinic spoke with Tony Francis Ntore, Executive Secretary of the Rwanda Bankers Association to understand how the institution is supporting its members in this time of crisis.

The SME Response Clinic is right on time. We are supporting SMEs to access one site where they can get information from different sources. And for us as RBA, it is our job to see how we can support our member banks in serving their customers. 

What kinds of solutions are your members implementing to support their SME customers through COVID-19?

Our members are following the instructions from the Ministry of Health in order not to spread COVID-19 and they are working to encourage the use of digital platforms. To avoid unnecessary bank visits and reduce the use of cash, our members have eliminated fees on cashless transactions other than cash out.

What government policies are most effective in supporting SMEs at this time?

Rwanda Bankers Association has been in discussion with other key stakeholders and partners to see how to support SMEs in this unexpected time. Together, we came up with an economic recovery fund that will be managed by the Central Bank. SMEs can request funds directly from banks or MFIs and these institutions can apply to BNR for the fund. ​

What advice do you have for SMEs during this crisis?

Although this pandemic is a big challenge, it provides an opportunity for SMEs to review their business plans. This is a time to think through your operations and imagine where you want to be in five years. Start planning.

Have questions? Please email smeresponseclinic@gmail.com


A Discussion with the Banking Sector

Tubararakiye gukurikirana ikiganiro n’abanyamabanki ku rubuga rwacu rwa facebook ku wa 28 Gicurasi!

Tubararakiye gukurikirana ikiganiro n’abanyamabanki ku rubuga rwacu rwa facebook ku wa 28 Gicurasi!

Guhera saa cyenda kugeza saa kumi  ku wa Kane, tariki ya 28 Gicurasi, tubararikiye gukurikira SME Response Clinic kuri facebook mu mahugurwa muzakurikira kuri Facebook imbonankubone hakoreshejwe ikoranabuhanga muzagezwaho n’abanyamabanki b’abanyarwanda n’Ishyirahamwe ry’abanyamabanki bo mu Rwanda.

Kugira ngo mubashe gukurikirana ayo mahugurwa, mufungura paji yacu ya SME Response Clinic kuri Facebook saa cyenda (ku wa 28 Gicurasi). Ni yo mahirwe muzaba mubonye yo kumenya byinshi byerekeye ibyo amabanki akora mu gufasha Ibigo Bito n’Ibiciriritse muri iki gihe cy’icyorezo cya COVID-19.

Ihuriro ryiga ku bibazo by’Ibigo bito n’Ibiciriritse rigamije gutanga amakuru ahagije ku bigo bito n’ibiciriritse mu Rwanda mu gihe cy’Icyorezo cya COVID-19. Abafatanyabikorwa b’Ihuriro bazi neza ko ibyinshi mu bigo bito bihanganye n’ibibazo byo kubura amafaranga byinjiza n’ayo bisohora, kwishyura inguzanyo n’ibihe biri imbere muri iki gihe bigoye kumenya uko ibintu bizaba byifashe.

Amabanki n’ibindi bigo byatangiye kugaragaza uruhare rw’ingenzi mu kubonera ibisubizo ibibazo byagaragaye kubera ibi bihe turimo. Hari bimwe mu bikorwa na serivisi byashyizweho bigamije gufasha mu gukemura ibibazo byo kubura amafaranga yo gukoresha, igabanuka ry’amafaranga ibigo byinjiza n’amafaranga abitse. Ibanga ry’imicungire y’igikorwa cy’ubucuruzi no kubasha guhangana n’iki cyorezo ku buryo ibigo bito n’ibiciriritse bibasha kwivana muri ibi bibazo ni ukuba bifite amakuru agezweho, kugira umutekano uhoraho mu byo bikora no kugira amakuru kuri serivisi zemerewe  zibifasha kuzahura ibikorwa byabyo nka bimwe mu bigo bikora ubucuruzi cyane cyane iyo bitanga serivisi zo mu rwego rwazahajwe cyane n’ibi bihe nk’ubukerarugendo, amahoteri cyangwa gutwara abantu n’ibintu.

Muri ayo mahugurwa azakurikiranwa hifashishijwe ikoranabuhanga, muzahugurwa kuri bimwe mu bicuruzwa na serivisi birimo koroherezwa kwishyura inguzanyo, kongererwa igihe cyo kwishyura inguzanyo hagabanywa inyungu z’ubukererwe, guhabwa indi nguzanyo no guhabwa mu buryo butaziguye inguzanyo n’abanyamabanki bo mu Rwanda. Abazitabira muzaba mufite amahirwe yo kubaza ibibazo no kuganira n’abanyamabanki bakurikira:

  • Christine Baingana, Umuyobozi Mukuru (CEO) wa Urwego Bank
  • Maurice K. Toroitich, Umuyobozi Mukuru wa BPR Atlas Mara
  • Robin C. Barstow, Umuyobozi Mukuru wa (CEO) I&M Bank Rwanda

Aya mahugurwa azakurikiranwa hifashishijwe ikoranabuhanga azategurwa ahanini mu rurimi rw’Icyongereza kandi ayoborwe na Tony Francis Ntore, Umunyamabanga Nshingwabikorwa w’Ishyirahamwe ry’Abanyamabanki mu Rwanda na Jean Bosco Iyacu, Umuyobozi w’Imishinga (Director of Programs) muri Access to Finance Rwanda.

Tubararikiye gukurikirana iki kiganiro cy’ingirakamaro!

A Discussion with the Banking Sector

Supporting Your Business Series:

A Discussion with the Banking Sector

Join us on Facebook on May 28th for a live discussion with bankers!

From 3-4pm on Thursday, May 28th, join the SME Response Clinic on Facebook for a live webinar with Rwandan bankers hosted by Access to Finance Rwanda and the Rwanda Bankers Association.

You can join simply by opening up the SME Response Clinic page on Facebook at 3pm on May 28th. It will be your chance to learn more about what banks are doing to help SMEs during the COVID-19 pandemic.

The SME Response Clinic’s goal is to provide more information to SMEs in Rwanda during the pandemic. The Clinic’s partners know that many small businesses are struggling with lack of cash flow, repayment of loans, and an uncertain future right now.

An important part of the response is already coming from banks and other institutions. There are products and services in place that are meant to aid with issues of working capital, reduced revenue and liquidity. The key to managing a business and surviving the pandemic will be to stay informed, stay safe, and know what is available to you as a business person – especially if you operate in a hard-hit industry like tourism, hospitality or transport.

During the webinar, you will learn about products and services like loan repayment holidays, loan moratoriums, lines of credit and overdraft facilities directly from Rwandan bankers. You will have the opportunity to ask questions and interact with:

  • Maurice K. Toroitich, Managing Director of BPR Atlas Mara
  • Robin C. Bairstow, CEO of I&M Bank and Chairman of Rwanda Bankers Association
  • Christine Baingana, CEO of Urwego Bank

This webinar will be held primarily in English and will be moderated by Tony Francis Ntore, Executive Secretary of the Rwanda Bankers Association, and Jean Bosco Iyacu, Director of Programs at Access to Finance Rwanda.

Please join us for this important event!

Join us on Facebook Live

Business Survival Bootcamp for Businesses in Rwanda

SCHEDULE

2nd June 2020 at 1400hrs (Kigali) / Kinyarwanda | Open

5th June 2020 at 1400hrs (Kigali) / English | Open

THE BOOTCAMP INCLUDES

A 90-minute interactive webinar led by AMI’s expert facilitators

Online access for two weeks to two practical tools to help implement what you learn in the webinar

The opportunity to connect with other African entrepreneurs, who are also trying to navigate the challenges of COVID-19

“This initiative that has helped us through business counseling and support during this pandemic, COVID-19.  We need it because it is not easy to work in this period. I am hopeful that we shall overcome. ”

Marume O.M., the Managing Director of Gout Africaine Ltd / Africano Restaurant in Huye.

With the aim of equipping businesses with practical tools to face challenges brought by COVID-19, African Management Institute (AMI) is conducting a FREE COVID -19 Business Survival Bootcamp. This short learning programme focuses on financial forecasting and cost management in an economic slowdown.

The bootcamp is designed specifically for business owners and entrepreneurs. Attendance is restricted at these sessions to keep them highly interactive, so please only sign up if you’re an entrepreneur (AMI will be organizing separate webinars for managers and leaders). Please share with other entrepreneurs and business owners in your network.

Have questions? Please email smeresponseclinic@gmail.com