For Asele Furaha, a 26-year-old bar owner in rural Gasarenda Sector, Nyamagabe District, running a business means overcoming the challenge of accessing supplies far from town. Each crate of alcoholic or non-alcoholic beverages transported by bicycle from Nyamagabe town takes about two hours and costs her Rwf1,000.

"We face challenges because there are no depots or sales offices nearby where we can buy alcoholic and non-alcoholic beverages. This makes running the business difficult,” she said.

The challenge has prompted her to consider establishing a beverage depot in her rural community, serving her bar and other local businesses while creating a new source of income.

Furaha hopes to secure financing through I&M Bank Plc’s KATAZA programme to turn the idea into reality. She sees the proposed depot as a way to address the supply challenges facing rural businesses while expanding her own enterprise.

"I am ready to meet the requirements and apply for the loan to start a depot that will supply beverages to businesses in my rural community and help solve the challenges we face,” she said.

Furaha was speaking during a training session organised by I&M Bank Rwanda in Huye District on Friday, October 23, to help rural women and other business owners from Huye, Nyamagabe, Nyanza and Gisagara districts explore financing and business growth opportunities under the bank’s KATAZA and KWIHAZA programmes.

Furaha hopes to borrow Rwf20 million to establish the depot, but has yet to secure financing. She said high interest rates had previously discouraged her from seeking bank loans.

"As a woman, I have always been afraid of taking loans from banks because of the high interest rates. Getting a loan at an affordable rate would help me grow my business, make a profit and repay it within a manageable period,” she said.

Affordable financing for small businesses

Furaha is among the entrepreneurs who could benefit from KATAZA, a programme implemented by I&M Bank Rwanda in partnership with the Mastercard Foundation through the Development Bank of Rwanda (BRD).

The programme targets businesses in tourism, hospitality and related value chains, with a focus on young entrepreneurs and women-owned enterprises. Eligible businesses can access loans of up to Rwf25 million at an annual interest rate of 9 per cent, without collateral, fees or commissions, with repayment periods of up to five years, subject to programme requirements. The Mastercard Foundation subsidises part of the interest cost.

The programme covers businesses such as hotels, restaurants, bars, coffee shops, event organisers and creative enterprises, as well as agribusinesses linked to tourism.

Gertrude Majyambere, Strategic Partnerships Manager at I&M Bank Rwanda Plc, said the bank was taking its outreach and training closer to rural communities after recognising that young women in particular were not being reached sufficiently.

KATAZA began in 2024 as a three-year pilot targeting about 500 small and medium enterprises (SMEs), she said. The bank subsequently stepped-up efforts to connect with entrepreneurs outside Kigali.

"We realised that we were not reaching enough young women in rural areas. That is why we are now deliberately taking the programme closer to them through customer outreach and training,” Majyambere said.

She pointed out that some businesses were not yet ready to borrow because they lacked proper financial records or were operating through unregistered informal groups. The bank is working with business advisory service providers to help entrepreneurs improve financial management, organise records and strengthen their operations before applying for loans.

"We want to groom these small businesses and make them bankable such that by the time they come to apply for a loan, they should be ready,” she said.

The training covers financial management, bookkeeping, customer acquisition and retention, identifying business opportunities and developing sustainable business systems. Majyambere said businesses generally needed to have operated for at least two years for the bank to assess their performance and repayment capacity.

She added that the outreach is also part of the Bank’s commitment to have more women borrowers. The pledge was made in 2025, when the Government launched, WE Finance Code, a global initiative by the Financial Alliance for Women.

Farmers seek financing to expand production

Through KWIHAZA, I&M Bank Rwanda also targets enterprises in selected agricultural value chains, including avocados, tomatoes, onions, passion fruits, fisheries and fish feeds.

Eligible businesses can access loans of up to Rwf150 million at an annual interest rate of 8 per cent, with repayment periods of up to five years. Unlike KATAZA, KWIHAZA is open to businesses across different age groups and generally requires collateral. Support may be available to viable businesses lacking sufficient collateral, subject to assessment.

Dative Nakabonye, founder and executive director of Family Circle Love Lab Organization (FCLLO) and head of AVOWOMEN Ventures Ltd, said she was interested in using the programme to strengthen her organic avocado farming project.

She said affordable financing and business advisory services could help agricultural enterprises improve productivity, expand operations and create jobs, particularly for women and young people.

"KWIHAZA has the potential to strengthen existing investments, improve productivity and expand business opportunities for women and young people, particularly in horticulture,” Nakabonye said.

"As a company, we see this initiative as an opportunity to grow sustainably, create employment, promote economic independence and contribute to stronger, more resilient communities.”

She stressed that financing needed to be backed by sound business planning to ensure investments generated enough income to repay loans and sustain growth.

"Access to such financing can support investment, expand production and create jobs. The real value lies in ensuring that the loan generates sufficient returns to repay the debt while sustaining business growth and social impact,” she said.

In Gisagara District, Emmanuel Sibomana, representing Abaharanira Amajyambere Cooperative (KOPAMURE), said the cooperative was considering a KWIHAZA loan to address the high cost of fish farming.

The cooperative operates 30 fish ponds in the Muganga Remera area and faces substantial expenses for fish feed. Sibomana said it hoped to secure Rwf80 million to buy feed, explore training in feed production and construct water canals to improve pond management.

"As fish farmers, we face financial challenges. Through such a programme, our cooperative will seek financing to invest in animal feed, and we will also seek training in feed production,” he said.

For entrepreneurs such as Furaha, access to affordable financing could help turn a business idea into an investment that serves a wider community. However, borrowers will still need viable business plans and sufficient income to meet loan repayments and sustain their operations.