Bank of Kigali has launched BKreative, a new initiative aimed at financing and structuring Rwanda’s creative industry, with eligible creatives able to access loans of up to Rwf1 billion. The initiative was unveiled on February 24 at the Kigali Public Library in partnership with the Ministry of Youth and Arts. The event brought together government officials, representatives from the British High Commission and the Embassy of Switzerland, as well as filmmakers, musicians, actors and content creators, comedians, among other creatives. ALSO READ: Could the creative industry be Rwanda's next cash cow? Speaking at the launch, Bank of Kigali CEO Dr. Diane Karusisi said the initiative is designed to recognize and support the economic value generated by creatives. “To all the musicians, visual artists, dancers, performers and cultural custodians, we are here to tell you that your value is real,” she said. “We cannot leave you alone.” Karusisi said the bank has spent the past year engaging creatives to understand their income patterns and challenges, particularly irregular earnings and limited access to traditional collateral. “We don’t want to build something for you. We want to build it with you,” she said, adding that BK aims to contribute to a financial infrastructure for the creative economy through funding and training. Under BKreative, creatives can access different financing options. They include production financing of up to RWF1 Billion with a grace period of 3months, asset-based financing of up to Rwf 500 Million using studio equipment and other creative tools as collateral, contract-based financing of up to 70%, where signed agreements can serve as security, personal loans of up to Rwf50 million without collateral for influencers and content creators with verifiable digital income, zero transaction fees on foreign currency inflows such as YouTube or streaming revenues. ALSO READ: Why investing in creative industry value chains matters The bank said it will also consider revenue from platforms such as YouTube and Spotify when assessing eligibility. Sharon Mutesi, the Digital Marketing Lead at Bank of Kigali, said the bank has adjusted its approach to reflect how creatives operate. “We understand that your collateral may not be land. It could be your YouTube revenue or a signed contract,” she said. “We have taken time to understand how you earn your money.” She added that the bank will not charge transaction fees on foreign currency inflows linked to creative work and confirmed that some beneficiaries have already accessed financing ahead of the official launch. Artist Kivumbi King said access to capital remains one of the biggest barriers in the industry. “Videos cost money. Audios cost money. Marketing costs money,” he said during the event. “Nothing is really organic, especially in music. If you hear a song somewhere, there is some type of push behind it.” He cited international examples where millions of dollars are spent on marketing alone and noted that without funding, Rwandan artists struggle to scale. ALSO READ: How Rwanda’s creative industry evolved over the past 30 years Kivumbi King noted that beyond production costs, artists must invest in promotion, media tours and playlist placements to grow their audience. “The biggest barrier for me was financial literacy,” he said. “We are artists, that’s what we are good at. But we didn’t always have serious teams. Banks and companies didn’t trust us.” Kivumbi said structured access to capital could enable artists to stage large concerts, invest in collaborations and expand into regional and international markets. State Minister for Youth and Arts Sandrine Umutoni welcomed the initiative, describing it as timely. “For a bank to defend the creative industry at board level does not happen overnight,” she said. “We need structure. We need an ecosystem that is ready to welcome this type of investment.” ALSO READ: Minister highlights priority areas to boost Rwanda’s creative economy She commended the private sector for stepping forward and urged stakeholders, from development partners to creatives themselves — to collaborate in building a sustainable industry that contributes to national strategies, including Vision 2050. Beyond financing, the initiative also incorporates skills development and digital visibility components. Creative strategist Malik Shaffy said creatives often lack contract literacy and business planning skills, which limits their growth. He said a digital profiling and job-matching platform will help showcase creatives across various fields, including musicians, filmmakers, wedding decorators and carpenters, while also strengthening professional standards. BK officials emphasized that BKreative goes beyond loan solutions. The initiative will also introduce a BKreative Podcast, where creatives and financial experts will share insights on financial literacy, contract management and industry trends to help artists better manage and grow their income. The bank is also preparing to launch a digital BKreative Marketplace, a platform that will connect creatives directly to buyers by enabling them to showcase and sell their products and services online. Together, these additions position BKreative as an ecosystem designed to professionalize, structure and scale Rwanda’s creative industry.
