RWANDA: DM TO HELP SMES ACCESS BANK LOANS

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Development Marketplace (DM) is an initiative of Rwanda private sector federation (RPSF) together with several partners which aims at finding and funding promising enterprises. It is a way to develop the capacity of small and medium enterprises (SMEs) and improve their access to finance.

The main partner in the DM initiative is the World Bank, through the Competitiveness and Enterprise Development Project (CEDP). Other partners are the Rwanda Development Bank (BRD) as partner bank; Kigali Institute of Science, Technology and Management (KIST) as partner institution; business development service providers such as CAPMER, ADAR, etc; and various donor agencies.

The first edition was held in 2004, and received about 400 proposals amongst which 10 winners were selected. The second edition in 2006 attracted 576 projects, among which 20 winners were selected. In both editions, the winners were awarded the sum of USD 20,000, of which USD 10,000 were to be used as collateral for a loan from the partner bank BRD. The remaining USD 10,000 was made available as technical assistance in accounting, management information systems, marketing and management training, etc.

RWANDA  DM TO HELP SMES

 

 

 

 

 

 

 

 

Rwandan women working in coffee washing station

The year 2012 will see a major change in procedures, so as to allow up to 50 projects to benefit from the program. Together with partner bank BRD, a guarantee fund will be set up which will be used to offer easy access to finance for the winners. The award will be twofold: first, a loan of Rwf 10,000,000 from BRD. Secondly, technical assistance worth US$ 2,000, with which to build capacity for the sustainability of the business.


 

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Mr. Sina is the Managing Partner & Chief Editor of RwandaEye. After completing his post-graduation from the Faculty of Economics and Management, National University of Rwanda,he worked in various consulting capacities for equity and business firms in Kigali. A shrewd strategist, he is an Economic Pundit, entrepreneur and Investment Banker.

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