What do I do if I have goods/cargo waiting to clear customs?
Question:
What do I do if I have goods/cargo waiting to clear customs?
Answer: On May 1, 2020, the Government of Rwanda issued regulations that require all goods/cargo to be immediately cleared and taken within one day from customs border posts. If an importer fails to take their goods/cargo within two days, they will be required to pay storage and parking fees as follows:
- Two Rwandan Francs per kilogram per day for parking.
- Two Rwandan Francs per kilogram in addition to normal storage fees in the warehouse.
- After two days, goods/cargo will be transported to Kigali warehouses. The cost will be the responsibility of the importer.
- To facilitate the transportation of cargo from Rusumo and Kagitumba borders, vehicle details (number plate and driver) and cargo owner must be communicated to MININFRA for travel clearance. This should be done via email at info@mininfra.gov.rw or WhatsApp: +250 788 884 431/ +250 788 698 556. For more information, call toll-free at 4287 (0788387125).
The Government is doing all possible to be sure that the clearance of goods/cargo takes place as efficiently and safely as possible.
Be Safe! Make sure you continue to follow general preventative measures. And stay healthy!
Reference: Rwanda Revenue Authority. Ref. 702/RRA/CG/CSD/2020. Issued 1 May 2020.
Ministry of Infrastructure Public Announcement. Issued 1 May 2020.
How can I restock my business at the warehouse during the COVID-19 crisis?
QUESTION
I have had difficulties restocking my business at the warehouse during the COVID-19 crisis. What can I do?
Answer: You may have received a message from PSF, the Private Sector Foundation, to help you solve your business issues during the pandemic. This could be because:
- As a small business, you are having cashflow issues and are worried you will not be able to pay for the goods you are supposed to receive from the warehouse.
- You do not want to use your cash to purchase only essential items, not non-essential items, to sell in your store.
- You are worried about moving around during this time.
The Government of Rwanda, working with RRA and PSF, understand that the COVID-19 crisis has damaged the cashflow of many small businesses. We understand that business people are wondering if and when they will begin to earn money again, and to fully stock their shops.
First, RRA and PSF are working to provide a guarantee and shop credit to small businesses so that you can continue to acquire goods that are now sitting in warehouses. Check back to this site for more information as this solution is still in development.
Second, RRA, PSF, the Police, and MINICOM have worked together to ensure that small businesses can get a pass to drive and pick up goods. If you are stopped by the police going to or from your warehouses, you can receive this pass. Write to info@psf.org.rw, or Faustin Karasira of PSF at faustink@psf.org.rw, if you do not yet have a pass to move as necessary to pick up your goods.
Third, banks like Bank of Kigali and KCB Rwanda are offering special loans to customers during this difficult time. To learn more, watch the videos at the bottom of the page.
If you are having problems picking up goods at a warehouse, bringing your goods to a warehouse, or have a question about the information above, you may call the numbers you see below. These numbers are PSF staff who are available to help you keep your business running during the shutdown.
Through the blue chat icon on the right corner of your screen, you can also ask a question of the SME Clinic experts.
1: Message from PSF and RRA on Warehouses (Friday 24 April 2020)
| Kinyarwanda | English |
| Muraho. Bisabwe na RRA ndetse na bayiri warehouse yuko zuzuye kandi zigomba gukomeza kwakira ibindi bintu, PSF irasaba abacuruzi n’abikorera bafite inbutu aho havuzwe kureba uko bajya kubifata mugihe kitarambiranye. Ukeneye ibindi bisobanuro ya hamagara: | Hello. At the request of RRA and the warehouses that are full and must continue to receive new items, PSF urges traders and the private sector using these warehouses to find out how to continue to pick up your goods. For more information call:
(see phone) |
Be Informed! Use the tools on this site to keep you up-to-date on new information, and do not hesitate to contact us for more information!
How is the Bank of Kigali meeting customer needs in this crisis?
How the Bank of Kigali meets customer needs in this crisis
The SME Response Clinic met with Santos Musonera, Head of Business of Bank of Kigali, to understand how they are meeting customer needs in this time of crisis.
“This is a very difficult time. As a bank, we are committed to making sure SMEs are supported not just during COVID-19 but also after. SMEs have always played and continue to play a critical role in our economy.”
What steps is Bank of Kigali undertaking to support its customers during the crisis?
The pandemic is driving digital initiatives at the bank. Now, more than ever, the bank is using digital platforms to support our clients. We have expanded our reach on the IKOFI platform, our platform for the agriculture sector, as their businesses have not stopped. It is really helping our customers to be able to transact. We have also established a 24/7 call center with double the staff, speaking all languages, to accommodate all customers.
In addition, the bank is working with clients on their ability to service their loans. Customers can request a grace period on interest and principal for three months, and we are also offering restructuring. We have introduced a new product, Turi Kumwe Special Loan, to support businesses hit by the pandemic. It provides up to two times the customers’ salary and is for a period of twelve months with a three-month grace period for the first payment. We’re also seeing an uptick in a microloan product we offer called Bkquick. The loan is almost instant, and you do not need to come into a branch or submit paper physically.
How should customers engage with the bank?
If you have a request, engage the bank as soon as possible by calling your Relationship Officer or Relationship Manager or via our call center.
- Call center number: 4455
- Twitter: @BankofKigali
- Facebook: https://www.facebook.com/BankofKigali/
- Branch hours: 8.00am to 3.00pm from Monday – Friday, with some branches operating on Saturdays and Sundays. Dial the call center for more information.
- Bkquick loan: Dial *334# for USSD access.
Uko Bank ya Kigali irimo gufasha abakiriya bayo muri ibi bihe bidasanzwe
Itsinda ritanga ubufasha kuri ba rwiyemezamirimo baciriritse ryagereye bwana Santos Musonera, Umuyobozi w’ishami ry’ubucuruzi muri Banki ya Kigali, rimubaza icyo barimo gukora kugira ngo bafashe abakiriya babo muri ibi bihe bidasanzwe.
“Turi mu bihe botoroshye. Muri banki yacu turimo gukora ibishoboka byose ngo dufashe abakora ibikorwa by’ubucuruzi buciriritse, guca muri ibi bihe bya COVID-19 kandi bazakomeze akazi kabo na nyuma yayo. Ibikorwa by’ubucuruzi buciriritse byagize uruhare rukomeye mu bukungu bwacu, kandi bizakomeza.”
Ni izihe ngamba Banki ya Kigali yafashe kugira ngo ifashe abakiriya bayo muri iki gihe kitoroshye?
Iki cyorezo cyatumye tuyoboka inzira y’ikoranabuhanga. Ubu banki yacu irimo gukoresha ikoranabuhanga kuruta mbere hose. Twaguye porogaramu yacu ifasha abahinzi n’aborozi yitwa IKOFI, kuko bo ibikorwa byabo bitahagaze. Ifasha abakiriya bacu mu birebana no kugura no kwishyura. Nanone twashyizeho ikipe ikora iminsi yose amanywa n’ijoro (24/7), kugira ngo ijye isubiza ibibazo by’abakiriya bacu bavuga indimi zitandukanye.
Nanone banki yacu irimo kwita ku bakiriya bafite ibibazo bijyanye n’inguzanyo. Abakiriya bashobora gusaba kongererwa igihe cyo kwishyura inguzanyo, hagendewe ku gihe kingana n’amezi atatu. Nanone tubafasha kuvugurura amasezerano yo kwishyura inguzanyo bafashe. Twatangije n’ubundi bwoko budasanzwe bwo kwaka inguzanyo bwitwa Turi Kumwe Special Loan, mu rwego rwo gufasha abacuruzi bagizweho n’ingaruka z’iki cyorezo. Umukiriya ashobora guhabwa inguzanyo ikubye kabiri umushahara we; yishyurwa mu gihe cy’amezi cumi n’abiri, kandi umuntu akaba ashobora gutangira kwishyura nyuma y’amezi atatu ayihawe. Nanone turimo kureba uko twakwagura ubundi bwoko bw’inguzanyo dutanga yitwa BKquick. Iyo ni inguzanyo yihuse, kandi umukiriya ayihabwa bitabaye ngombwa ko yuzuza impapuro ngo azijyane ku ishami ryacu.”
Abakiriya bafite ikibazo bagana banki bate?
“Niba ufite ikibazo, ihutire kwegera banki uhamagara Urwego Rushinzwe Kwita ku Bakiriya cyangwa umwe mu bakozi barwo cyangwa agahamagara terefoni yacu.”
Terefoni yacu: 4455
Amasaha y’akazi mu mashami yacu: kuva ku wa Mbere kugeza ku wa Gatanu ni ukuva 8:00 (mu gitondo) kugeza 3:00 (z’umugoroba), no mu mashami amwe n’amwe akora ku wa Gatandatu no ku Cyumweru. Ukeneye ibindi bisobanuro wahamagara nomero yacu.
Ushaka inguzanyo ya BKquick: Kanda *334# ukurikize amabwiriza.
Ese nakora iki ko bitanyoroheye kwishyura imisoro, mu gihe ubucuruzi bwanjye bucumbagira muri ibi bihe bya COVID-19?
Ese nakora iki ko bitanyoroheye kwishyura imisoro, mu gihe ubucuruzi bwanjye bucumbagira muri ibi bihe bya KOVIDI-19? Nari kuzayishyura ku itariki ya 31 Werurwe, ariko simbishoboye!
Igisubizo: Wigira ubwoba! Leta y’u Rwanda yiteguye gufasha abakora ubucuruzi buto n’ubuciriritse muri iki gihe. Ikigo Gishinzwe Imisoro n’Amahoro kirimo gutanga serivisi zacyo hafi ya zose hifashishijwe interineti kugira ngo kibafashe gukomeza kwirinda, kibarinda kugendagenda kandi musabwa kuguma mu rugo.
Mushobora kujya kuri uru rubuga https://www.rra.gov.rw/ kugira ngo mubone amakuru yose mukeneye cyangwa musobanuze ibijyanye n’ubucuruzi bwanyu buciriritse.
Dore ibindi nanone mukwiriye kumenya:
Kuva ku itariki ya 18 Werurwe, igenzura ry’imisoro ryabaye risubitswe byibura mu gihe cy’iminsi 30, keretse niba hari gahunda y’ubugenzuzi yari isanzwe yarateguwe mu bucuruzi bwawe.
Abacuruzi baciriritse bemerewe gusubizwa TVA. Bivuze ko TVA yari isanzwe isabwa abacuruzi baciriritse bazayisubizwa mu rwego rwo kubafasha kongera kwiyubaka.
Mbere y’uko havuka ikibazo cya KOVIDI-19, kumenyekanisha imisoro byari biteganyijwe gukorwa bitarenze tariki ya 31 Werurwe 2020. Ariko hashingiwe ku makuru ya virusi hamwe n’amabwiriza ajyanye no kuguma mu rugo, byimuriwe ku itariki ya 31 Gicurasi 2020.
Igihe ntarengwa cyahawe abasoreshwa bafite ubucuruzi buto n’ubuciriritse kugira ngo bagaragaze umusoro, cyongeweho ukwezi kumwe. Byitezwe ko abo basoreshwa bagaragaza umusoro ku nyungu no kuwishyura bitarenze itariki ya 30 Mata 2020.
The Government will give more guidance in May, when we all know more about the global pandemic, and how it will affect small and medium businesses here in Rwanda. But be assured that the Government is doing all possible to be sure that businesses have ways in which to deal with taxes in a way that is logical when many have had to shut in order to keep everyone safe.
Mu kwezi kwa gatanu, Leta y’u Rwanda izatanga andi mabwiriza bitewe n’amakuru mashya tuzaba dufite ku bijyanye n’ingaruka icyorezo cya KOVIDI-19 kizaba cyagize ku bucuruzi buciriritse mu gihugu. Leta ikaba yongeye kwizeza abacuruzi ko iriho ikora ibishoboka byose kugira ngo gahunda y’itangwa ry’imisoro n’amahoro izabe nta mucuruzi uhutajwe, mu gihe bizaba bigaragara ko ubucuruzi bwe bwadindijwe n’amabwiriza ya “Guma mu rugo”.
Komeza kwirinda! Murashishikarizwa gukurikirana amakuru yose yabagirira akamaro mu bucuruzi bwanyu buto n’ubuciriritse, kugira ngo budahagarara bitewe n’iki gihe kitoroshye turimo. Mukomeze kubungabunga ubuzima bwanyu!
Question: What can I do if I am having trouble paying my taxes while my business suffers during COVID-19? I was supposed to pay by 31st March, but I can’t!
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.
Go to https://www.rra.gov.rw/ to learn more and to request support for your small business.
Here is what else you need to know:
- As of March 18, tax audits are on hold for at least 30 days, unless your business has a desk audit that was previously planned.
- Small and medium businesses are now allowed a VAT refund. This means that VAT, which is normally charged to businesses on small and medium businesses, will be refunded to help with cash flow.
- Before COVID-19, the date for financial statements certification was March 31st, 2020. At this time, given what is known about the virus and current lockdown, these statements will be required on May 31st, 2020.
- The deadline for “small and medium-sized taxpayers” to file their taxes has been extended by one month. These taxpayers will be expected to file the tax returns and pay the amount of corporate income tax by 30 April 2020.
The Government will give more guidance in May, when we all know more about the global pandemic, and how it will affect small and medium businesses here in Rwanda. But be assured that the Government is doing all possible to be sure that businesses have ways in which to deal with taxes in a way that is logical when many have had to shut in order to keep everyone safe.
Be Safe! Make sure you find out about the benefits to your small or medium business when it comes to taxes, to help you keep your business afloat during these difficult times. And stay healthy!
Reference: Rwanda: Extended Tax Return Deadlines (COVID-19)
Ministry of Trade and Industry: COVID-19 Impact to Trade & Industry: A Recap of Government Mitigation to Businesses. 21st April 2020.
Nakora iki ko mfite impungengez’uko ntazabasha kwishyura inguzanyo bitewe n’uko ubucuruzi bwanjye bwahungabanye muri iyi minsi?
Kuvugurura amasezerano yo kwishyura inguzanyo
Ikibazo: Nakora iki ko mfite impungengez’uko ntazabasha kwishyura inguzanyo bitewe n’uko ubucuruzi bwanjye bwahungabanye muri iyi minsi?
Igisubizo:Wigira impungenge! Niba warafashe inguzanyo mu kigo cy’imari (banki), urasabwa guhita wegera banki mukorana niba ubona utazabasha kuyishyura muri ibi bihe bya COVIDI-19. Banki mukorana muzaganira ku mbogamizi zose ufite, kugirango harebwe impinduka zikenewe mu buryo bwo kwishyura iyo nguzanyo.
Nubwo amasaha yo kwakira abagana ibigo by’imari yahindutse mu rwego rwo kurinda ubuzima bw’abakozin’abakiriya, banki zizakomeza gukora kuri ubu buryo:
| Days/Iminsi | Hours/Amasaha |
| KuwaMbere – Ku waGatanu | Saa mbiri za mugitondo (8:00) kugeza saa kumi n’imwe z’umugoroba (5:00) |
| KuwaGatandatu | Saa mbiri za mugitondo (8:00) kugeza saa kumiz’umugoroba (4:00) [Biterwa na banki iyo ariyo, SACCO cyangwa Ikigo cy’Imari iciriritse] |
| Ku Cyumweru | Ntakazi |
Iyi gahunda yo korohereza abantu batse inguzanyo kuvugurura amasezerano yo kuyishyura, ishingiye ku masezerano Leta y’u Rwanda yagiranye n’ibigo by’imari. Leta y’u Rwanda yiyemeje gufasha abakora ibikorwa by’ubacuruzi muri ikigihe, kuko izi neza ko imirimo yabo yahagaze, bigatera benshi igihombo no kubura abakiriya.
Kuvugurura amasezerano yo kwishyura inguzanyo bisobanurako ushobora kongererwa igihe cyokwishyura, mu gihe banki mukorana yaba ibona ko ubikwiriye. Bivuze kandi ko utazasabwa kwishyura amafaranga wari usanzwe wishyura, kuko muri ikigihe nta mafaranga winjiza. Ibyo ariko ntibivuze ko uzaba uvaniweho umwenda,kuko uzishyura inguzanyo yose,hiyongereyeho inyungu n’ibindi bijyana.Icyakora uzahabwa igihe cyo kubanza kwiyubaka. Biteganyijwe ko icyo gihe kizarangira ku itariki ya 20 Kamena.
Banki Nkuru y’ u Rwanda (BNR) irimo irafasha za banki n’ibigo by’imari muri iyi gahunda yo kuvugurura amasezerano y’inguzanyo mu gihe cy’amezi atandatu(6)ari imbere. Ibi biraguha icyizere cy’uko ubucuruzi bwawe buzongera kujya mbere n’ubwo ubu kwishyura inguzanyo bikugora. Ikindi gishishikaje, ni uko ibigo by’ imari birimo guha inguzanyo abakora ibikorwa by’ubucuruzi biciriritse. Ukeneye kubimenya neza, wakwegera igiko cy’imari mukorana.
Irinde! Guma mu rugo, kandi niba ufite ikibazo cyo kwishyura inguzanyo wahawe, ubiganirize ikigo cy’ imari mukorana kuko gukemura icyo kibazo cy’ideni biri mu nyungu z’ibikorwa byawe ndetse n’iza bank yawe nubwo iyo nguzanyo yakwishyurwa itinze
(Itangazo rya Guverineri wa Banki nkuruy’igihugu rijyanye n’ingamba zo guhangana n’ingaruka z’ubukungu zizaterwa na COVIDI-19)
(Itangazo rya Minisiteri y’Ubucuruzi n’Inganda rwo kuwa 21 Mata 2020: COVIDI-19, ingaruka zayo ku bucuruzi n’inganda: Incamakey’ingamba Leta y’uRwanda yafashe, hagamijwe kurengera ubucuruzi.)
What will I do if I cannot pay back my small business loan because my business is suffering?
Answer: There is no need to panic! If you have a loan with a bank, SACCO or MFI, contact your bank right away if you find that you will be unable to make payments during COVID-19. Your bank will work with you to understand your needs and any changes in loan repayment needed.
Even though banking hours are now adjusted to keep both clients and bank staff safe, banks will be open:
| Days | Hours |
| Monday – Friday | 8am – 5pm |
| Saturday | 8am – 4pm (at the latest, depending on the Financial Institution) |
| Sunday | Closed |
This is because the Government of Rwanda has worked with Financial Institutions to assure that any borrower with an outstanding loan who cannot repay will be able restructure the loan. The Government understands that many businesses are suffering hardship during this time, with loss of income and customers, and is acting to help.
Restructuring a loan means that you may be able to delay payments if you and your business qualify. This means you would not need to make a regular payment during a time when you are not earning. You will still need to repay the loan in full, with all interest and charges, but you will be given the time that you need to recover. Right now, the period lasts until June 20th.
BNR is supporting Financial Institutions in this restructuring. So you can feel at ease that your business will have a resource to help you, even if you are struggling to repay a loan. What is more, some Financial Institutions are offering loans to help SMEs now. Another good reason to talk with your Financial Institution if you need support!
Be Safe! Stay at home, and talk with your Financial Institution if you are having trouble with loan repayments. It is in your business’s best interests – and your bank’s – if you succeed, even if there is a delay in payment.
Reference: RBA Press Release, Thursday, 19th of March 2020
Governor’s Press Release: Measures to mitigate the economic impact of the COVID-19 pandemic
Ministry of Trade and Industry: COVID-19 Impact to Trade & Industry: A Recap of Government Mitigation to Businesses. 21st April 2020.
How is KCB meeting customer needs in this crisis?
“We appreciate that we are in this together. We want to assure our customers that we are looking long-term. Keep engaging.”
GEORGE ODHIAMBO, MANAGING DIRECTOR, KCB BANK RWANDA
We talked to George Odhiambo, Managing Director of KCB Bank Rwanda to understand how they are meeting customer needs in this time of crisis.
What steps is KCB Bank Rwanda undertaking to support its customers during the crisis?
The bank is reviewing customer requests to reschedule loan disbursements, repayments, and to provide moratoriums on interest and principal for periods of 3-6 months. We have a commitment to respond to requests within 48 hours.
How should customers engage with the bank?
If you have a request, engage the bank as soon as possible by calling your Relationship Manager. Use digital channels.
- Twitter: @KCBRwanda
- Facebook: https://www.facebook.com/kcbbankrwandaplc
- Contact center number: +250 788140000
- Branch hours: 8.00am to 08.00pm from Monday-Saturday and from 8.00am to 04.00pm on Sundays
What recommendations does the bank have for business owners as they look toward the future?
While businesses is on hold, look at your plans for the year. Review your projections, understand how your needs may change, assess your own capabilities. We are doing this kind of thinking as a bank as well, and we want to align with you so the plans you have for your future are not adversely affected.
“Dushimishwa no kuba turi kumwe namwe. Turagira ngo twizeze abakiriya bacu ko turimo gukora ibishoboka byose ngo bagire icyizere cy’ejo hazaza. Mukomeze mukorane natwe.””
GEORGE ODHIAMBO, UMUYOBOZI MUKURU WA KCB BANK RWANDA
Twaganiriye na George Odhiambo, Umuyobozi Mukuru wa KCB Bank Rwanda, tumubaza icyo barimo gukora ngo bafashe abakiriya babo muri ibi bihe bidasanzwe.
Ni izihe ngamba KCB Bank Rwanda yafashe kugira ngo ifashe abakiriya bayo muri ibi bihe bidasanzwe?
Ubu banki irimo gusuzuma ibibazo abakiriya bacu bayigejejeho basaba kuvugurura amasezerano yo kwishyura inguzanyo, n’ibirebana n’inyungu yishyurwa, hagendewe ku gihe kingana n’amezi 3 kugera kuri 6. Mu gihe umukiriya abisabye, tumusubiza mu gihe kitarenze amasaha 48.
Abakiriya bafite ikibazo bagana banki bate?
“Niba ufite ikibazo, ihutire guhamagara banki, uvugane n’Urwego Rushinzwe Kwita ku Bakiriya. Ushobora no gukorasha uburyo bw’ikoranabuhanga.”
- Twitter: @KCBRwanda
- Facebook: https://www.facebook.com/kcbbankrwandaplc
- Terefoni: +250 788140000
- Amasaha y’akazi: ku wa Mbere kugeza ku wa Gatandatu ni ukuva 8:00 (mu gitondo) kugeza 08:00 (z’umugoroba), na ho ku Cyumweru ni ukuva 8:00 (mu gitondo) kugeza 4:00 (z’umugoroba)
Ni iyihe nama mwagira abakiriya bari basanzwe bakoraga ibikorwa byo kwiteza imbere?
“Niba ibikorwa byawe by’ubucuruzi byarahagaze, suzuma imigambi wari ufite mu gihe cy’umwaka. Ongera urebe ibyo wari warateganyije, wibuke ko ibintu bishobora guhinduka, ubundi ukore ibihuje n’ubushobozi ufite. Natwe muri banki ni uko. Turakora ibishoboka byose ngo tugufashe kugera ku byo wari wariyemeje kugeraho.”
Supporting Your Business Series: 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!
Covid - 19 Immediate response bootcamp
To help African businesses continue to thrive, AMI will offer an interactive webinar aimed at preparing businesses to navigate through the initial challenges including access to the ‘COVID-19 Business Survival Toolkit’ through our platform community.
AMI will cover topics aimed at helping businesses navigate the near-term challenges, and prepare for possible bigger shifts – such as managing remote teams, leading in a crisis, optimising health and hygiene at work, as well as financial forecasting and cost management in an economic slowdown
I find the tools to be really helpful and I actually shared a bunch of them with my team. But the cashflow tool was the most useful. We're now using it every two weeks as a team. I think it's great that cash was the main focus of the webinars because that's what is at the top of everyone's mind. One of the participants actually said that if you don't take care of cash then all other things won't go as smoothly as they should."~Liz Robertson, Head of Talent, PowerGen, Kenya
"I am a retailer, I've been in business for 20 years now, but I've never had the opportunity to work with tools like the ones from AMI, that can help me run my business. So getting a chance to learn like this was a gift from heaven. Your programmes are very interesting, especially for the African setting.I now have a team of 6 people, they were 9 but I had to reduce to 6 and I got the answer from the Bootcamp and the courses. I realised some of the roles were overlapping and so it made sense to review, restructure and cut costs where we needed to. Initially, it was tough to see this but after taking the webinar and using the tools it became clear. For now, as an entrepreneur, I can say that I am confident that we can continue operating until the end of the year but I really hope that this crisis will soon end." - Yatha Penelungundu, retail business owner, Lesotho
What will I do if I cannot pay back my small business loan?
What will I do if I cannot pay back my small business loan because my business is suffering?
Answer: There is no need to panic! If you have a loan with a bank, SACCO or MFI, contact your bank right away if you find that you will be unable to make payments during COVID-19. Your bank will work with you to understand your needs and any changes in loan repayment needed.
Even though banking hours are now adjusted to keep both clients and bank staff safe, banks will be open:
| Days | Hours |
| Monday – Friday | 8am – 5pm |
| Saturday | 8am – 4pm (at the latest, depending on the Financial Institution) |
| Sunday | Closed |
This is because the Government of Rwanda has worked with Financial Institutions to assure that any borrower with an outstanding loan who cannot repay will be able restructure the loan. The Government understands that many businesses are suffering hardship during this time, with loss of income and customers, and is acting to help.
Restructuring a loan means that you may be able to delay payments if you and your business qualify. This means you would not need to make a regular payment during a time when you are not earning. You will still need to repay the loan in full, with all interest and charges, but you will be given the time that you need to recover. Right now, the period lasts until June 20th.
BNR is supporting Financial Institutions in this restructuring. So you can feel at ease that your business will have a resource to help you, even if you are struggling to repay a loan. What is more, some Financial Institutions are offering loans to help SMEs now. Another good reason to talk with your Financial Institution if you need support!
Be Safe! Stay at home, and talk with your Financial Institution if you are having trouble with loan repayments. It is in your business’s best interests – and your bank’s – if you succeed, even if there is a delay in payment.
Reference: RBA Press Release, Thursday, 19th of March 2020
Governor’s Press Release: Measures to mitigate the economic impact of the COVID-19 pandemic
Ministry of Trade and Industry: COVID-19 Impact to Trade & Industry: A Recap of Government Mitigation to Businesses. 21st April 2020.
Kuvugurura amasezerano yo kwishyura inguzanyo
Ikibazo: Nakora iki ko mfite impungenge z’uko ntazabasha kwishyura inguzanyo bitewe n’uko ubucuruzi bwanjye bwahungabanye muri iyi minsi?
Igisubizo: Wigira impungenge! Niba warafashe inguzanyo mu kigo cy’imari (banki), urasabwa guhita wegera banki mukorana niba ubona utazabasha kuyishyura muri ibi bihe bya KOVIDI-19. Banki mukorana muzaganira ku mbogamizi zose ufite, kugira ngo hakorwe andi masezerano yo kwishyura atakubangamiye.
Nubwo amasaha yo kwakira abagana ibigo by’imari yahindutse mu rwego rwo kurinde ubuzima bw’abakozi n’abakiriya, banki zizakomeza gukora kuri ubu buryo:
| Days/Iminsi | Hours/Amasaha |
|
Ku wa Mbere – Ku wa Gatanu |
Saa mbiri za mugitondo (8:00) kugeza saa kumi n’imwe z’umugoroba (5:00) |
|
Ku wa Gatandatu |
Saa mbiri za mugitondo (8:00) kugeza saa kumi z’umugoroba (4:00) [Biterwa na banki iyo ari yo, SACCO cyangwa Ikigo cy’Imari Iciriritse] |
|
Ku Cyumweru |
Nta kazi |
Iyi gahunda yo korohereza abantu batse inguzanyo kuvugurura amasezerano yo kuyishyura, ishingiye ku masezerano Leta y’u Rwanda yagiranye n’ibigo by’imari. Leta y’u Rwanda yiyemeje gufasha abakora ibikorwa by’ubacuruzi muri iki gihe, kuko izi neza ko imirimo yabo yahagaze, bigatera benshi igihombo no kubura abakiriya.
Kuvugurura amasezerano yo kwishyura inguzanyo bisobanura kongererwa igihe cyo kwishyura , mu gihe banki mukorana yaba ibona ko ubikwiriye. Bivuze kandi ko utazasabwa kwishyura amafaranga wari usanzwe wishyura, kuko muri iki gihe nta mafaranga winjiza. Ibyo ariko ntibivuze ko uzaba uvaniweho umwenda, kuko uzishyura inguzanyo yose, hiyongereyeho inyungu n’ibindi bijyana. Icyakora uzahabwa igihe cyo kubanza kwiyubaka. Biteganyijwe ko icyo gihe kizarangira ku itariki ya 20 Kamena.
Banki Nkuru y’u Rwanda (BNR) iriho irafasha za banki n’ibigo by’imari muri iyi gahunda yo kuvugurura amasezerano y’inguzanyo mu gihe cy’amezi atandatu (6) ari imbere. Ibi biraguha icyizere cy’uko ubucuruzi bwawe buzongera kujya mbere nubwo ubu kwishyura inguzanyo bikugora. Ikindi gishishikaje, ni uko ibigo by’imari birimo guha inguzanyo abakora ibikorwa by’ubucuruzi biciriritse. Ukeneye kubimenya neza, wakwegera igiko cy’imari mukorana.
Irinde! Guma mu rugo, kandi niba ufite ikibazo cyo kwishyura inguzanyo wahawe, wegere ikigo cy’imari mukorana. Ibi bigufitiye akamaro, kuko bizateza imbere ubucuruzi bwawe, banki mukorana, ndetse no mu gihe waba wongerewe igihe uzamara wishyura.
(Itangazo rya Guverineri wa Banki nkuru y’igihugu rijyanye n’ingamba zo guhangana n’ingaruka z’ubukungu zizaterwa na KOVIDI-19)
(Urwandiko rwa Minisiteri y’Ubucuruzi n’Inganda rwo ku wa 21 Mata 2020: KOVIDI-19, ingaruka zayo ku bucuruzi n’inganda: Incamake y’ingamba Leta y’u Rwanda yafashe, hagamijwe kurengera ubucuruzi.)
What can I do if I am having trouble paying my taxes?
Question: What can I do if I am having trouble paying my taxes while my business suffers during COVID-19? I was supposed to pay by 31st March, but I can’t!
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.
Go to https://www.rra.gov.rw/ to learn more and to request support for your small business.
Here is what else you need to know:
- As of March 18, tax audits are on hold for at least 30 days, unless your business has a desk audit that was previously planned.
- Small and medium businesses are now allowed a VAT refund. This means that VAT, which is normally charged to businesses on small and medium businesses, will be refunded to help with cash flow.
- Before COVID-19, the date for financial statements certification was March 31st, 2020. At this time, given what is known about the virus and current lockdown, these statements will be required on May 31st, 2020.
- The deadline for “small and medium-sized taxpayers” to file their taxes has been extended by one month. These taxpayers will be expected to file the tax returns and pay the amount of corporate income tax by 30 April 2020.
The Government will give more guidance in May, when we all know more about the global pandemic, and how it will affect small and medium businesses here in Rwanda. But be assured that the Government is doing all possible to be sure that businesses have ways in which to deal with taxes in a way that is logical when many have had to shut in order to keep everyone safe.
Be Safe! Make sure you find out about the benefits to your small or medium business when it comes to taxes, to help you keep your business afloat during these difficult times. And stay healthy!
Reference:
Ministry of Trade and Industry: COVID-19 Impact to Trade & Industry: A Recap of Government Mitigation to Businesses. 21st April 2020.