Artists seeking financing through the BKreative programme have been urged to formalise their businesses, keep proper financial records and develop clear business plans to improve their chances of securing loans. The call was made during a financial literacy workshop held at East African University Rwanda on June 29 under the BKreative initiative, a programme launched in March 2026 by Bank of Kigali in partnership with the Ministry of Youth and Arts to address financing challenges facing Rwanda's creative industry. BKreative was developed after the bank identified barriers that have long prevented many artists from accessing financial services despite the creative sector's growing contribution to the economy. BKreative to unlock up to Rwf1bn financing for Rwanda’s creatives Until the financial product was introduced, many creatives struggled to obtain loans because they lacked collateral, operated informally and had limited financial records for banks to assess their creditworthiness. To address those challenges, Bank of Kigali designed financial products tailored specifically to the needs of the creative industry. Who is eligible? Under BKreative, creatives can access business loans of up to Rwf100 million without collateral, while larger investments of up to Rwf1 billion require collateral worth only 50 percent of the loan value. The programme also finances creative infrastructure and equipment, including recording studios valued at up to Rwf500 million, with the bank paying suppliers directly after verifying quotations. In addition, personal loans of up to Rwf50 million are available without collateral. Our objective is to help creatives transform their talent into sustainable businesses by removing some of the barriers that have traditionally prevented them from accessing finance, said Bank of Kigali Product Development Manager Marcel Dukuzimana. He stressed that financing is not automatic and that applicants must demonstrate their projects are commercially viable and capable of generating income. According to Dukuzimana, one of the biggest challenges is that many artists have promising ideas but fail to document them. Many artists have ambitious ideas, but they are not written anywhere. Before a bank approves a loan, we must understand the project, how the money will be used and how the investment will generate income, he said. He encouraged artists to prepare detailed business plans outlining the purpose of the loan, the amount required, how the funds will be invested and the expected returns. Beyond a business plan, applicants should also show evidence that their projects are already underway. The bank wants to see that you have already taken steps on your own. Even if the income is small or seasonal, you should be able to provide evidence that the business exists and generates revenue, he said. Dukuzimana urged creatives to sign contracts for every professional engagement, issue invoices for services rendered and receive payments through banks or mobile money rather than cash. Such records, he explained, help establish a financial history that banks rely on when assessing loan applications. When you request a loan, we will ask you to provide evidence of your income. If there are no written records, it becomes difficult for the bank to assess your business, he said. Applicants seeking financing for equipment must also submit detailed budgets, supplier quotations and specifications for the items they intend to purchase. ALSO READ: Creatives grappling with funding, market access – new study We do not simply give out money. If you need cameras for a studio, for example, we assess the quotations and make payments directly to the supplier, Dukuzimana added. ALSO READ: Creatives grappling with funding, market access – new study A creative’s experience Christian Intwari, founder of Intwari Concepts and organiser of the annual Our Past event, shared lessons from his 13 years in the events management industry, stressing that planning and financial discipline are essential for long-term success. He recalled organising a concert featuring Tanzanian artist Darassa in 2018, when several expected sponsors withdrew shortly before the event despite Bank of Kigali honouring its financial commitment. The withdrawals created a major funding gap, while attendance fell below expectations, resulting in financial losses. We learned the importance of proper planning and realistic budgeting. The following year we applied those lessons and organised a successful concert, he said. Intwari encouraged young entrepreneurs to avoid unnecessary spending and instead focus on gradually building sustainable businesses. When investors or banks see that you have already started and can demonstrate results, they gain confidence in supporting your project, he said. Reflecting on the growth of Our Past, Intwari noted that the event began 14 years ago with about 200 attendees before growing into a festival that now attracts thousands. Beyond entertainment, the initiative has expanded into community development, supporting vulnerable families through house construction, payment of school fees and other social programmes in partnership with organisations including BK Foundation and BRD. He also urged the Ministry of Youth and Arts and Bank of Kigali to explore financing mechanisms for young creatives with innovative ideas but no established business track record. Supporting such entrepreneurs, he said, would help unlock new talent and accelerate the growth of Rwanda's creative economy. Building business skills Alice Kamasoni, Head of Arts Development at the Ministry of Youth and Arts, said the ministry is complementing the financing programme with entrepreneurship and financial literacy training to equip creatives with the skills needed to build sustainable careers. We are reaching universities and institutions offering arts programmes to prepare students for the labour market while also promoting positive values and discouraging drug abuse, she said. According to Kamasoni, the outreach programme has already reached students at Nyundo School of Music and will be expanded to other higher learning institutions across the country. She said future workshops will cover entrepreneurship, business management and personal development to help young creatives become more competitive in the job market. Kamasoni encouraged artists to take advantage of the opportunities offered through BKreative, saying access to finance, combined with stronger business skills, could help transform creative talent into sustainable enterprises that contribute to Rwanda's growing creative economy.
