How is the Association of Microfinance Institutions in Rwanda supporting its members in this time of crisis?
How is the Association of Microfinance Institutions in Rwanda supporting its members in this time of crisis?
The SME Response Clinic spoke with Aimable Nkuranga, Executive Director of the Association of Microfinance Institutions in Rwanda, to understand how the institution is supporting its members in this time of crisis.
I advise clients of MFIs and SACCOs to approach their institutions to express challenges and concerns and if they need to, to renegotiate their loan terms. MFIs and SACCOs are here to support in the best way that they can through this difficult time.
What makes MFIs and SACCOs so important in Rwanda for SMEs?
MFIs and SACCOs are important because of the type of services that they offer. They try to help clients in running their businesses, managing their finances, and understanding how to interact with financial institutions in addition to providing financial services.
What is the Association of Microfinance Institutions in Rwanda (AMIR) doing to support members during the COVID-19 crisis?
AMIR has been in close contact with its members, which include SACCOs and microfinance institutions across the country. We have held several meetings and conducted assessments to understand the impact of this situation on their operations. We have gathered ideas that need advocacy and engaged various stakeholders to see how best to support our members. We are currently negotiating with donors and other stakeholders to see how we can set up an emergency fund. We have also helped our members with policy documents and carried out online training. We’re now working to see how we can help institutions better serve clients through digital channels.
What are some of the solutions your members are implementing to support clients during this time?
Our members are allowing their clients to renegotiate payment terms on a case-by-case basis. MFIs and SACCOs are also working on their systems; they are working to implement digital channels so that they can serve their clients without their clients needing to come in. A few of our members are also training their clients on topics such as the usage of digital channels.
Fees and charges for mobile money can be difficult to afford. What can I do?
Check the latest update here.
According to MINICT: If you are asked to pay additional fees or charges for a cashless payment, like mobile money or a credit or debit card, call and report this using the toll-free number 3988.
Fees & Charges
Question: I am afraid of using cash and catching the COVID-19 virus right now. But fees and charges for mobile money can be difficult to afford. What can I do?
Answer: You are in luck! The Government of Rwanda is making sure that it is safer and easier for you to make and receive payments during this uncertain time. What you need to know is:
- There are ZERO charges when you transfer money between your bank account and your mobile wallet. You will have no charge to do so!
- There are ZERO fees when you make payments using your mobile account at a store or other merchant. This is for mobile money transfers, as well as for using POS devices at a shop or merchant.
- In fact, ALL electronic transactions will have no fees during this time of COVID-19.
- MTN will NOT charge fees for using mobile money – to send, receive, or pay bills – until at least June of 2020.
- Airtel is also eliminating fees for sending and receiving mobile money at this time, and mobile payments of utilities are free as well.
Cashing out from your account at an agent, however, still carries fees.
You do not need to worry about touching cash. These measures have been taken to make it easier for you to make your payments and receive money even when many fear to touch money.
Be Safe! Use mobile money and digital services to keep yourself healthy, safe, and fees will not be charged!
Reba ibishya bishya hano.
AMAKURU AGEZWEHO: U Rwanda rwagejeje uburyo bwifashisha ikoranabuhanga mu kwishyura ku bacuruzi n’abatanga serivisi.
Nk’uko tubitangarizwa na Ministeri y’ikoranabuhaga no guhanga udushya: Mugihe cyose uzabwirwa ko ugiye gukatwa amafaranga
Amafaranga umuntu acibwa bitewe no gukoresha mobile money
Ikibazo: Mfite impungenge ko nshobora kwandura COVID-19 bitewe no guhererekanya amafaranga. Gusa nanone, amafaranga baduca bitewe no gukoresha mobile money na yo ni menshi. Ubwo nakora iki?
Igisubizo: Humura! Leta y’u Rwanda iriho irakora ibishoboka byose kugira ngo wishyure cyangwa uhabwe amafaranga mu buryo bukoroheye kandi udashyize ubuzima bwawe mu kaga. Zirikana ko nta MAFARANGA uzacibwa
Ushobora kuvana amafaranga kuri konti yawe ukayohereza kuri terefoni, cyangwa ukayavana kuri terefoni ukayohereza kuri konti ku buntu. Nta yandi ucibwa!
Ushobora kugura ibintu muri butike cyangwa mu maduka ukoresheje konti yawe yo kuri terefoni yawe nta yandi mafaranga uciwe. Ibi wabikora wifashishije terefoni, na twa tumashini twabigenewe bishyuriraho mu maduka (POS).
Nukoresha uburyo BWOSE bwo guhererekanya amafaranga binyuze mu ikoranabuhanga, nta yandi uzacibwa.
NTA yandi mafaranga MTN izaguca nukoresha mobile money wohereza, wakira cyangwa kwishura fagitire kugeza nibura muri Kamena 2020.
Airtel na yo iriho irakuraho amafaranga yose umuntu yacibwaga kohereza no kwakira cyangwa yishura amashanyarazi, amazi, n’ibindi bikunze gukenerwa akoresheje terefoni.
Ibyo ari byo byose kubikuza amafaranga kuri telefoni yanyu ku muajenti hari amafaranga ukatwa.
Si ngombwa ko ugira impungenge zo kongera gukora ku mafaranga. Izi ngamba zose zafashwe kugira ngo woroherezwe kohereza, kwakira no kwishyura udakoze ku mafaranga muri iki gihe.
Irinde! Koresha mobile money na serivisi z’ikoranabuhanga kugira ngo urinde ubuzima bwawe, wizeye ko nta yandi mafaranga ucibwa.
Niba ushaka amakuru ajyanye na KOVIDI-19 mu Rwanda, hamagara nomero itishyuzwa 114
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.
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.”
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.)