BDF recognises five bank managers

Five managers from Banque Populaire du Rwanda who identified innovative projects to fund under the Rural Small and Micro Enterprise Promotion Project (PPPMER) have been recognised. Cyubahiro Nkunda from Rwamagana, Jerome Wicogora and Rwihimba Ruhumuriza from Nyagatare and Olive Nyirabagenzi and Aloyse Ndahayo from Musanze were rewarded during a cocktail at Lemigo Hotel in Kigali on Friday.They each walk away with Rwf200,000 and a trophy.Speaking at the event, Martin Hagenimana, who oversaw the project, said they lent out close to Rwf780m, through Banque Populaire du Rwanda and micro-finance institutions by identifying feasible projects and providing half the financial security required before and after transferring the project to the Business Development Fund.Business Development Fund was established last year by the government to provide loan guarantees for the agricultural sector and small-and-medium enterprises with the aim of increasing business and employment opportunities for Rwandans. “To date, the project has managed to reach out to people in carpentry, artisans, tailoring, honey processing, welding and mechanics,” Hagenimana said.He said most of the borrowers were repaying their loans well, adding that Business Development Fund ensured sustainability of the project.“We were working with communities, training them on how to start businesses, write business plans and bookkeeping. There are also many other projects under the ministry that link those with vocational skills to BDF.”The PPPMER project, which was started in 1998 under the Ministry of Trade and Industry as a loan scheme for entrepreneurs, wound up in June this year. It benefitted over 6,000 people and created more than 11,000 jobs.