The last five years have not only been remarkable and exciting for Business Development Fund (BDF) as a company but also to its beneficiaries who say they have seen their dreams come true after being part of it.
In order to have the capacity to deliver its products and services, BDF mobilized funds from various sources to support a wide range of programs.
To- date, it has mobilized over Rwf10.5 billion for guarantees, Rwf 5.6 billion for grants, Rwf 3.1 billion for Sacco refinancing, Rwf 850 million for leasing which totals to a tune of Rwf 24.5 billion.
Out of the resources mobilized, so far the company has assisted 1,307 beneficiaries to access finance under Agriculture Guarantee Fund to a tune of Rwf 20.9billion and Rwf 15.9billion worth guarantee has helped 3,257 businesses to access finance through its Small and Medium Enterprise Guarantee Fund.
Beneficiaries have come to appreciate BDF interventions at the different levels saying their entrepreneurial competitiveness has been boosted.
BDF gave me hope
A 27-year old lady, Solange Nkurikiye living in Kimisagara- Nyamirambo married with one child, testifies how BDF gave her hope to implement her business idea.
In 2014 when Solange thought of joining transportation business, she had no other hope to get the 5 coasters for the start till she approached Business Development Fund for collateral security to be advanced a loan in BRD to purchase these vehicles.
“BDF granted me 75% of the collateral and today 3 coasters are operating in Kimisagara and the other 2 in Kimironko.”
She says for two years now in the business, she has been able to build more knowledge on the business which many people think is only a reserve for men. The business has contributed a lot to her family and society.
“I have been able to support my husband build our family house now about to be completed from this business. Am glad am able to create jobs for the youth in our society working as drivers and conductors,” says Nkurikiye.
BDF restored my businesses
30-year Epiphanie Mukadisi who owns a bar and guesthouse in Gikondo says she was seeing her profitable business slip out of her hands due to lack of enough working capital till she received a guarantee of 75% from Business Development Fund in 2013.
“My bar lacked enough stock in drinks and clients demanded the guest house to be upgraded to a better standard which I could not afford. I was losing a lot of customers due to this,” says Mukadisi
For 3 years now, Mukadisi says she has not only acquired a plot of land from her businesses but also learnt a lot from the fund on how to save, manage her finances and how to create jobs from the trainings Business Development Fund offers to its beneficiaries.
My life improved with BDF support
Agnes Uzabakiriho, 39, in Huye district, Southern Province, says she approached BDF for assistance in 2014 after thinking of a business idea in maize milling. The fund which was able to grant her wish has made her achieve numerous projects besides running a maize flour processing machine.
Today, Uzabakiriho has diversified her activities into rearing cattle, pigs, 100 broilers and 150 layers of chicken from the proceeds of her business. She says from the maize husks, she is able to process and sell chicken and animal feed to the people around her as another source of income.
“I have been able to live a descent life with my family and my 5 children have acquired education, all thanks to BDF support,” she concludes.
BDF made it happen for us
Rumiya Kamari, 38, President of Coople Palmier Agro-processing business making cooking oil from palm oil in Kahanga-Kicukiro says it was tough for them to begin this business as they needed a big sum of money to start it.
He is glad Business Development Fund granted them 20% guarantee to acquire a loan from Unguka Bank in 2014 from which they built the factory and acquired other necessary equipments.
They hope to begin reaping from the business which started operating in August 2015.