Exploring New Opportunities with BPR Bank Rwanda
In August 2021, KCB Bank Rwanda merged with Banque Populaire du Rwanda PLC to form a new bank, BPR Bank Rwanda. The new bank will benefit clients with a wide range of products and services, including access to a larger network of branches and banking agents across the country, as well the best-in-class digital offers, transactional banking solutions, trade finance expertise, and international banking offers from KCB Banking Group.
“We are excited to offer a new and better banking experience to our customers.” George Odhiambo, Managing Director, BPR Bank Rwanda
Launching a Business? Choose the Right Legal Structure
Launching a Business? Choose the Right Legal Structure
A major factor to consider when starting a business is the legal structure. In Rwanda, your business can be a sole proprietorship, a partnership, or a corporation. The structure you select will impact the kind and number of shareholders (co-owners of the firm) you can have, your personal accountability for business debts, and the costs of beginning and maintaining your business.
Learn more about these structures and their advantages and disadvantages.
- Sole proprietorship:
This structure is usually best when a single entrepreneur launches a business. On the plus side, it is easier to set up and register a sole proprietorship, and as the sole proprietor, you retain complete control over the business’s operations. A major plus is that ongoing compliance responsibilities are limited since you are not required to have general meetings, submit yearly reports, or file annual returns.
The primary drawback of being a sole proprietor is that you are personally accountable for all business obligations, including debts, which can put your personal assets at risk should you find your business in financial trouble.
- Partnerships:
This form of legal structure has only been allowed in Rwanda since early 2021. It is an alliance of 2 or more people who agree to conduct a business together. Each individual invests money, property, effort, and expertise in the firm and anticipates a share of the gains and losses.
Partnerships have low startup costs, are simple to create, and members share the profits. Owners are taxed only on their own personal income. If a partner wants to leave the partnership, they may withdraw from their corporate interests.
On the downside, personal liability may still be an issue. Raising more funds and finding acceptable partners are also sometimes challenging.
- Corporation
A corporation is a legally recognized entity that enables the entrepreneur to separate personal assets from your business. This means that people who invest in the firm (shareholders) are only liable for the business’s debts up to the value of their investment. As a result, it is a highly effective method of attracting investment without risking your personal wealth. However, it is the most expensive legal business structure to form, is highly regulated, and requires considerable record keeping. Finally, there is double taxation, first on company profits and then on your personal earnings.
This is a quick review of the legal structures available to you when starting a business. For more advice, seek a legal or tax specialist if you have any specific concerns.
Are you a woman entrepreneur interested in scaling up your business? Apply for this programme before 18 July 2022
Are you a woman entrepreneur interested in scaling up your business? Apply for this programme before 18 July 2022
The Africa Women Innovation and Entrepreneurship Forum (AWIEF) and the Affirmative Finance Action for Women in Africa (AFAWA) initiative of the African Development Bank Group (AfDB) invite applicants for the “Solutions Catalysing Increased Access to Capital for the Success of Women Entrepreneurs” programme. The programme aims to accelerate efforts to address gender inequality and drive inclusive economic transformation. Through the programme, AFAWA and AWIEF seek to drive increased access to finance and markets for women-owned and women-led small and medium enterprises (WSMEs) across Southern, East, and West Africa.
Over 510 WSMEs will be supported to scale, access markets, and receive investment readiness training. The programme is eligible for WSMEs from 8 African countries, including Kenya, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Zambia, and Zimbabwe. Interested participants can apply for any of the following programme components:
- AWIEF Growth Accelerator (in partnership with Nedbank) – to enhance investment readiness and increase access to finance.
- eCommerce Capacity Development (in partnership with UNIDO) – for building knowledge, capacity, and skills in digital channels to increase participation and success in online business.
- Digital Skills (in partnership with Amazon Web Services) – strengthen WSME’s capacity to embrace technology innovation.
- Mentorship and Advisory – enhancing the visibility and access to role models for WSMEs through a mentorship platform.
To apply for the programme, visit: Applications
Are you an innovative Agri-tech entrepreneur? Apply for the Pitch AgriHack 2022 competition before 29 July 2022
Are you an innovative Agri-tech entrepreneur? Apply for the Pitch AgriHack 2022 competition before 29 July 2022
In partnership with African Green Revolution Forum and Generation Africa, Heifer International invites applicants to the eighth edition Pitch AgriHack 2022 competition. Pitch AgriHack is a digital agricultural competition focused on accelerating entrepreneurial growth and job creation by leveraging advanced tech and youth participation in Africa’s food security agenda.
Through the competition, six successful participants from three open competition categories, including early-stage, mature/growth stage, and women-led, will be awarded cash prizes totaling USD 45,000. Additionally, participants to the competition will benefit from the following:
- A fourth invite-only category, known as the AYuTe Africa Challenge, sponsored by Heifer International, will award up to US$1.5 million in grants to scalable ventures already generating measurable impact for Africa’s smallholder farmers.
- Six winners will be selected from the open-application categories and two winners from the invite-only AYuTe Africa Challenge category. The winners will be announced at the AGRF Summit on September 5-9 in Kigali.
- Top contestants will receive a one-day boot camp in preparation for their final pitches, with winners receiving continued support as they develop and grow their enterprises.
- Business profiles of the finalists will also be published in a Deal Book for circulation at the AGRF and online, while individual profiles will be made public on the orgplatform and reviewed for relevance to their investor community.
Interested applicants must fulfill the following to apply:
- Have a clear and defined description of how their solution is impacting smallholder farmers
- Have a strong organizational and operational structure
- Be aged 18-40 on the day of submission to the 2022 Pitch AgriHack Competition
- Hold nationality (with official ID) from any of the 54 nations of the African Union
- Be the founder/co-founder of the enterprise represented in the competition and play an active role in its operations and leadership
- Have no criminal record related to corruption, tax evasion, financial impropriety, felony, or other offenses
- Not be a previous Pitch AgriHack finalist or winner
- Must submit the application form in English
- Must agree with the Terms & Conditions
To apply for the competition, visit: Applications
For more information on the competition, visit: Pitch AgriHack 2022
Are you a social entrepreneur with a high-impact business? Apply for the Sankalp Global Awards before 7 July
Are you a social entrepreneur with a high-impact business? Apply for the Sankalp Global Awards before 7 July
The Sankalp Forum, an initiative of Intellecap, part of Aaviskhaar Group, invite applicants for the Sankalp Global Awards. The awards are part of the Sankalp Global Summit, an annual event that discusses global development and impact investing landscapes. This year’s edition of the awards seeks to celebrate social entrepreneurs who positively impact society, gain hands-on experience, and create innovative solutions with a global community. Interested applicants must have impactful social enterprises in Sankalp’s six impact areas, including agriculture, financial inclusion, health and wash, clean energy, livelihoods and future of work(ers), and affordable housing.
Successful applicants will benefit from the following:
- One-on-one investment readiness support to improve the pitch and investment ask
- Opportunity to pitch and get feedback from the eminent Sankalp Grand Jury and audience of investors
- Curated one-on-one introductions with global investors
- Collaborate with a global network of investors, donors, and entrepreneur support organizations
- Virtual exhibition space for your business to gain visibility and generate leads
Interested applicants must fulfil the following criteria to apply:
- Have a high-impact business that caters to rural, low-income, or disadvantaged communities in any of our 6 impact areas
- Have a clear for-profit business model with high potential for scale
- Have an experienced and dedicated promoter team
- Have some proof of concept on the ground that is generating revenues
- Are looking for funding in the range of USD 100,000 – USD 1,000,000
To apply for the Sankalp Global Awards , visit: Applications
Are you an early-stage justice entrepreneur interested in training and funding? Apply for the Justice Entrepreneurship School before 30 June 2022
Are you an early-stage justice entrepreneur interested in training and funding? Apply for the Justice Entrepreneurship School before 30 June 2022
The HiiL Innovation Hub, a social enterprise dedicated to supporting justice entrepreneurs in East Africa, invites applicants for the Justice Entrepreneurship School incubation programme. The programme supports early-stage entrepreneurs preventing or resolving pressing justice needs in their communities. Entrepreneurs will be offered high-quality action learning through the program on business modelling, storytelling, pitching, and justice design thinking.
The programme is suitable for start-up entrepreneurs who:
- Have a solution that meets the needs of those who struggle to access adequate, easy-to-understand, affordable, and accessible means to prevent or resolve their justice problems
- Have a basic product or service, that is, an existing prototype or minimal viable problem
- Have no traction; that is, the product is still not in the hand of users, or it’s only in the hands of a small number of early adopter users, where we still do not see enough evidence that this product or business can work
- Led by a team of 2 or 3 committed and passionate co-founders who shares a drive for justice and impact
Successful applicants to the programme will benefit from the following:
- A one-week residential boot camp delivered by industry specialists on topics such as business growth, team & leadership, design thinking
- Coaching sessions and mentorship on topics of your choice
- Access to HiiL’s regional network of justice leaders, legal tech organisations, and top-level researchers
- Certification and a learning platform for self-service
- Chance to win up to €1000 at the end of the programme during the Justice Innovation Circle demo day
To apply for the programme, visit: Justice Entrepreneurship School Applications
Are you a startup operating in the Commonwealth member state? Apply for the Kigali Startup Festival before 6 June 2022
Are you a startup operating in the Commonwealth member state? Apply for the Kigali Startup Festival before 6 June 2022
The Commonwealth Youth Forum invites applicants to the Kigali Startup Festival. The festival celebrates the innovation, entrepreneurship, drive, and contributions of Commonwealth youth to addressing some of the world’s most pressing challenges. Selected participants will be sponsored to pitch their innovations for cash prizes at the upcoming Commonwealth Youth Forum, taking place from June 19 – 21, 2022, in Kigali, Rwanda.
Participants will have the opportunity to compete for the following awards:
- Champions of Inter-Trade – Export promotion
- Pioneers of Agricultural Innovation – Agricultural productivity
- Green Innovation Guru – Addressing circular and climate change issues
- Digital Geeks – Leveraging digital technologies to address daily-life challenges
Interested applicants must fulfill the following criteria to apply:
- Be aged 18 to 29 years
- Be a citizen of the Commonwealth member state
- Have a valid legal proof of business or project ownership
To participate in the festival, visit Applications
Are you a women entrepreneur running a for-profit business with a social and environmental impact on your community? Apply for the 2023 Regional Cartier Women’s Initiative Awards before 30 June
Are you a women entrepreneur running a for-profit business with a social and environmental impact on your community? Apply for the 2023 Regional Cartier Women’s Initiative Awards before 30 June
The Cartier Women’s Initiative, an annual international entrepreneurship program, invites women entrepreneurs to apply for the 2023 Regional Cartier Women’s Initiative Awards. The program aims to drive change by empowering women entrepreneurs with businesses that have a strong and sustainable social and environmental impact.
Interested applicants must fulfill the following criteria to apply for the Awards:
- Business should be a for-profit designed to generate sufficient revenue to support its operations and return some level of profit to its owners.
- Business should be in the early stage of its development and growth (between 1 and 6 years of registered operations as date of application) with a proven business model.
- Business should be generating revenue from the sales of products and/or services for at least one year as of the date of the application.
- Business should not have raised more than USD 2,000,000 in dilutive funding (any kind of funding that requires you to give away a piece of your company, including not only future profits but possibly control).
- Business should demonstrate having a positive impact in its industry and demonstrate it has potential to have more impact if successful with the Awards.
- Business should contribute to at least one of the United Nations Sustainable Development Goals (SGDs).
Successful applicants will benefit from the following
- Financial capital support: Successful applicants will be awarded grants in three categories. The first-place awardee will receive USD 100,000; the second-place awardee will receive USD 60,000; the third-place awardee will receive USD 30,000.
- Human capital support: Successful applicants will be offered training and collective workshops involving coaching, mentorship, and peer learning.
- Social capital support: Successful applicants will gain international exposure and media visibility and access to an online and offline community of 500+ experts and peers
To apply for the Awards, visit: Applications
Inama eshanu zifasha umucuruzi gufata ibyemezo byiza byo mu rwego rw’imari
Inama eshanu zifasha umucuruzi gufata ibyemezo byiza byo mu rwego rw’imari
Kenshi na kenshi, abacuruzi bakenera kugura imitungo cyangwa ibicuruzwa bijya mu bubiko cyangwa bakagura ibindi bintu bagamije guteza imbere ubucuruzi bwabo. Ariko, kenshi na kenshi amikoro aba ari macye, kubera iyo mpamvu, ni ngombwa gufata ibyemezo byo mu rwego rw’imari byiza kurusha ibindi byose bishoboka.
Nimucunga amikoro yanyu uko bikwiye, muzabasha kugera ku ntego zanyu neza kandi mubashe kunoza imikorere y’ikigo cy’ubucuruzi cyanyu muri rusange. Dore inama eshanu zabafasha gufata ibyemezo bitanu byo mu rwego rw’imari.
- Ruhuka: Mbere yo kugira ibintu ugurira ikigo cy’ubucuruzi cyawe, ikintu cya mbere ugomba gukora ni ukuruhuka noneho ugatekereza ku ntego ufitiye ikigo cy’ubucuruzi cyawe. Ese igicuruzwa ugurira ikigo cyawe gishyigikira izo ntego cyangwa gihabanye nazo? Wikwishyiraho igitutu cyangwa ngo abandi bakigushyireho.
- Baza: Baza ibibazo bijyanye n’ibiguzi n’ingorane zijyana n’ibyo ugomba kugura. Komeza ubaze ibindi bibazo kugeza igihe wumviye icyo wishyurira n’icyo uhawe. Wigira isoni zo kubaza ibibazo byinshi. Dore bimwe mu bitekerezo by’ingirakamaro: Bizagenda gute nibidakora? Ese nshobora guhagarika kugura iki gicuruzwa ngasubizwa amafaranga? Ese hari amafaranga y’igihembo, imisoro, ibihano, cyangwa andi mafaranga ajyanye n’icyo gicuruzwa? Mu by’ukuri ni iki mpawe kubera amafaranga nishyuye? Iki gicuruzwa gifite iyihe garanti?
- Gereranya: Gereranya ibiciro maze urebe niba uri kwishyura igicuruzwa ku giciro gikwiye. Itegereze cyane maze urebe niba atari ikintu kigaragara nk’aho ari cyiza kurusha uko kiri mu by’ukuri. Genzura niba abantu cyangwa ibigo by’ubucuruzi mukorana byanditswe mu buryo bwemewe.
- Cishiriza : Cishiriza ikiguzi cy’ibyo ushaka kugura noneho urebe niba kijyanye n’amafaranga usabwa kwishyura. Ushobora kubona kuri interineti ibikoresho n’ibyo ushobora kwifashisha ubara bikagufasha kugereranya ibicuruzwa cyangwa serivisi zo mu rwego rw’imari. Gereranya ikiguzi cya byose, harimo amafaranga y’ibihembo n’andi yose usabwa kwishyura n’agaciro k’igicuruzwa uhabwa.
- Fata icyemezo : Niba watekereje ku byerekeranye n’uburyo igicuruzwa runaka cyagira uruhare ku ntego zawe, nyuma yo kubaza ibibazo byawe byose, nyuma yo kugereranya ibiciro, no gucishiriza ku bijyanye n’ikiguzi cyacyo, fata icyemezo niba ugomba gukomeza gukora igikorwa cyo kugura icyo gicuruzwa cyangwa kukireka. Andika ibi byose bimaze kuvugwa noneho ubirebe nk’uko biri koko kugirango ubashe gufata icyemezo.
Twizeye ko nimukoresha ubu buryo, muzabasha gufata ibyemezo byo mu rwego rw’imari birushijeho kuba byiza bizafasha ibikorwa by’ubucuruzi byanyu.
Five Tips to Make Better Financial Decisions
Business owners generally need to purchase assets or inventory or make other purchases to help their businesses grow. But resources are often scarce, so it is important, therefore, to ensure you’re making the best financial decisions you can.
If you manage resources appropriately, you will be able to better accomplish your goals and improve your company’s overall performance. Here are five tips to make better financial decisions.
- Pause: Before making a purchase for your business, the first thing you should do is pause and think about what your goals are for your business. Will the item you are purchasing support those goals or deter from them? Don’t pressure yourself or let other people pressure you.
- Ask: Ask questions about the costs and risks associated with a purchase. Keep asking more questions until you understand what you’re paying for and what you are receiving. Don’t be shy about asking many questions. Here are some ideas: What will happen if it doesn’t work out? Can I stop the transaction and get my money back? Are there fees, taxes, penalties, or other charges? What exactly am I receiving in return for the amount I am paying? What warranty or guarantee does this come with?
- Compare: Compare prices to make sure you are paying a fair price. Keep an eye out for anything that seems too good to be true. Ensure that the people and businesses with whom you are working are properly registered.
- Estimate: Estimate the costs associated with your purchase and make sure you are getting value for your money. You can find online tools and calculators to compare financial products or services. Compare the total cost, including fees and chargers, to the value you are receiving.
- Decide: If you thought about how a purchase will contribute toward your goals, asked all your questions, compared prices, and estimated your total costs, make a decision whether to move forward with the transaction or not. Write down all of the above and look at it objectively to help you decide.
We hope that by applying this method, you will be able to make better financial decisions to support your business.
Five Tips to Make Better Financial Decisions
Five Tips to Make Better Financial Decisions
Business owners generally need to purchase assets or inventory or make other purchases to help their businesses grow. But resources are often scarce, so it is important, therefore, to ensure you’re making the best financial decisions you can.
If you manage resources appropriately, you will be able to better accomplish your goals and improve your company’s overall performance. Here are five tips to make better financial decisions.
- Pause: Before making a purchase for your business, the first thing you should do is pause and think about what your goals are for your business. Will the item you are purchasing support those goals or deter from them? Don’t pressure yourself or let other people pressure you.
- Ask: Ask questions about the costs and risks associated with a purchase. Keep asking more questions until you understand what you’re paying for and what you are receiving. Don’t be shy about asking many questions. Here are some ideas: What will happen if it doesn’t work out? Can I stop the transaction and get my money back? Are there fees, taxes, penalties, or other charges? What exactly am I receiving in return for the amount I am paying? What warranty or guarantee does this come with?
- Compare: Compare prices to make sure you are paying a fair price. Keep an eye out for anything that seems too good to be true. Ensure that the people and businesses with whom you are working are properly registered.
- Estimate: Estimate the costs associated with your purchase and make sure you are getting value for your money. You can find online tools and calculators to compare financial products or services. Compare the total cost, including fees and chargers, to the value you are receiving.
- Decide: If you thought about how a purchase will contribute toward your goals, asked all your questions, compared prices, and estimated your total costs, make a decision whether to move forward with the transaction or not. Write down all of the above and look at it objectively to help you decide.
We hope that by applying this method, you will be able to make better financial decisions to support your business.
Inama eshanu zifasha umucuruzi gufata ibyemezo byiza byo mu rwego rw’imari
Kenshi na kenshi, abacuruzi bakenera kugura imitungo cyangwa ibicuruzwa bijya mu bubiko cyangwa bakagura ibindi bintu bagamije guteza imbere ubucuruzi bwabo. Ariko, kenshi na kenshi amikoro aba ari macye, kubera iyo mpamvu, ni ngombwa gufata ibyemezo byo mu rwego rw’imari byiza kurusha ibindi byose bishoboka.
Nimucunga amikoro yanyu uko bikwiye, muzabasha kugera ku ntego zanyu neza kandi mubashe kunoza imikorere y’ikigo cy’ubucuruzi cyanyu muri rusange. Dore inama eshanu zabafasha gufata ibyemezo bitanu byo mu rwego rw’imari.
- Ruhuka: Mbere yo kugira ibintu ugurira ikigo cy’ubucuruzi cyawe, ikintu cya mbere ugomba gukora ni ukuruhuka noneho ugatekereza ku ntego ufitiye ikigo cy’ubucuruzi cyawe. Ese igicuruzwa ugurira ikigo cyawe gishyigikira izo ntego cyangwa gihabanye nazo? Wikwishyiraho igitutu cyangwa ngo abandi bakigushyireho.
- Baza: Baza ibibazo bijyanye n’ibiguzi n’ingorane zijyana n’ibyo ugomba kugura. Komeza ubaze ibindi bibazo kugeza igihe wumviye icyo wishyurira n’icyo uhawe. Wigira isoni zo kubaza ibibazo byinshi. Dore bimwe mu bitekerezo by’ingirakamaro: Bizagenda gute nibidakora? Ese nshobora guhagarika kugura iki gicuruzwa ngasubizwa amafaranga? Ese hari amafaranga y’igihembo, imisoro, ibihano, cyangwa andi mafaranga ajyanye n’icyo gicuruzwa? Mu by’ukuri ni iki mpawe kubera amafaranga nishyuye? Iki gicuruzwa gifite iyihe garanti?
- Gereranya: Gereranya ibiciro maze urebe niba uri kwishyura igicuruzwa ku giciro gikwiye. Itegereze cyane maze urebe niba atari ikintu kigaragara nk’aho ari cyiza kurusha uko kiri mu by’ukuri. Genzura niba abantu cyangwa ibigo by’ubucuruzi mukorana byanditswe mu buryo bwemewe.
- Cishiriza : Cishiriza ikiguzi cy’ibyo ushaka kugura noneho urebe niba kijyanye n’amafaranga usabwa kwishyura. Ushobora kubona kuri interineti ibikoresho n’ibyo ushobora kwifashisha ubara bikagufasha kugereranya ibicuruzwa cyangwa serivisi zo mu rwego rw’imari. Gereranya ikiguzi cya byose, harimo amafaranga y’ibihembo n’andi yose usabwa kwishyura n’agaciro k’igicuruzwa uhabwa.
- Fata icyemezo : Niba watekereje ku byerekeranye n’uburyo igicuruzwa runaka cyagira uruhare ku ntego zawe, nyuma yo kubaza ibibazo byawe byose, nyuma yo kugereranya ibiciro, no gucishiriza ku bijyanye n’ikiguzi cyacyo, fata icyemezo niba ugomba gukomeza gukora igikorwa cyo kugura icyo gicuruzwa cyangwa kukireka. Andika ibi byose bimaze kuvugwa noneho ubirebe nk’uko biri koko kugirango ubashe gufata icyemezo.
Twizeye ko nimukoresha ubu buryo, muzabasha gufata ibyemezo byo mu rwego rw’imari birushijeho kuba byiza bizafasha ibikorwa by’ubucuruzi byanyu.