I read with much enthusiasm the story that appeared in yesterday’s issue of The New Times entitled “BK secures US$ 20 million to boost lending”. Obviously, an increase in lending would stimulate growth of small and medium enterprises.
I believe an increase in lending to SMEs can improve the living standards since the majority of Rwandans are engaged in this critical sector of the economy.
However, seed capital has inhibited the growth of the sector. Yet, SMEs also need additional funds to expand and develop. Thus, the funds could not have come at a better time. Other banks should emulate BK’s move to attract more fuding to boost the SME sector.