Ngoma: Women urged to get loans and create profit making projects

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Women in Ngoma District in Eastern province were called upon to courage and get Bank loans to help them start income generating projects because they are able as long as they believe in themselves.

This was on 30th November 2011 during the visit by MUKARUBENGA Zoulfat Vice-President of Private Sector Federation of women in Ngoma district.

MUKARUBENGA urged women to go ahead and get loans because the bank makes it easier for them when in cooperatives. She says that women should not follow how it was that women are not able but instead work hard and beat men in business.

”As of now working is by visiting the bank because it’s not easy for a woman to get capital, banks made it easier for us when we form cooperatives. Why then should we deprive ourselves of the opportunity? Ngoma women, you are able” adds Zoulfat.

Apart from MUKARUBENGA Zoulfat, different Executive Directors of the banks had come to explain to the women on the kind of project to present to bank and loan security required.

On the side of women, the problem they find in that is lack of security to enable get loans yet they can’t start without capital. Also preparing a project is very expensive which makes them remain with their projects in words.

One of the women participants said that “Project proposal is very expensive, imagine paying ten thousand for a proposal of the project that costs fifty thousand francs. It’s too much for us so we forget about projects when we fail to get money.

John KAGARAMA representative of Business Development Fund that offers financial guarantee to approved projects came to women’s rescue by saying that they go to BDF which will help them to get security.

On expensive project planning, MUKARUBENGA Zoulfat advised women to use RDB (Rwanda Development Board) because they have an employee in charge project planning for people with no capacity.

In Ngoma district, it was found that women who create jobs are few due bank security, and they fear using loans and fail to pay back resulting the bank to sell their projects.


Jean Claude Gakwaya



About the author

Fabrice Ndaka is a Working Partner and Contributor to RwandaEye. A post-graduate from Oxford University (Said Business School), he is a financial consultant. Fabrice also contributes articles to Financial Magazines in Europe and Africa.

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