Rwanda: BPR Bank Rwanda Engages Entrepreneurs, Empowers SMEs With Key Financial Insights

BPR Bank Rwanda hosted a session at Norrsken House Kigali, on Tuesday, September 3, designed to facilitate conversations with entrepreneurs and encourage the exchange of ideas and knowledge.

This initiative was launched three months ago in partnership with Norrsken, to support small and medium enterprises (SMEs), according to Arsene Ibambasi, Senior Manager of SMEs at BPR Bank Rwanda.

“Today, we discussed many of BPR’s products so that SMEs can understand their options and know what’s available to them. This approach is part of what we call non-financial services,” he said.

ALSO READ: BPR Bank Rwanda reports 24% increase in H1 operating income

Among the products introduced was the Goal Account, a savings tool designed to help entrepreneurs and employees save.

“The Goal Account is unique because it can automatically deduct money from your account to ensure you reach your set savings goal,” Ibambasi noted.

Another key product discussed was Invoice Discounting, a solution for businesses waiting for payments on public sector contracts. “If a client has issued an invoice and is waiting to be paid, we can provide them with the money upfront, allowing them to continue their operations. They then have 90 days to repay,” he said.

With over 70 branches and more than 40,000 SMEs under their guidance, BPR Bank Rwanda is deeply invested in the growth of local businesses.

However, Ibambasi acknowledged the ongoing challenge of collateral for SMEs.

“Collateral remains an issue, but that’s why we have multiple partnerships. Through Business Development Fund (BDF), for example, women and special groups can receive up to 75 per cent support, while others can get 50 per cent. We are also onboarding other partners to assist businesses that lack collateral but are operational,” he said.

ALSO READ: BPR Bank promises new prospects for customers in three-day roadshow

Abraham Agustine, Communications and Programs Leader at Norrsken, explained that sessions are a regular part of their mission to support entrepreneurs.

“Today’s session brought together these elements, people networking, engaging with banking professionals, and gaining new information. The goal is for these interactions to eventually lead to capital allocation,” he noted.

Agustine said there is hope that the conversations from the session will lead to concrete partnerships. “Whether in product development, go-to-market strategies, or other forms of support, we want these connections to turn into something tangible. That’s why we are here, to bridge the gap between having an idea or a small business and taking it to the next level,” he said.

He noted Norrsken’s partnership with BPR Bank Rwanda as a key component of their ongoing efforts. “We will continue to have these discussions with BPR and other partners to support entrepreneurs on their journey,” he added.

Agustine also noted the success stories of companies that have grown from small startups at Norrsken to big businesses.

“Some of our early members have expanded to Kenya and are now generating revenues of $20 to $50 million a year. This validates the importance of our work and shows that great things can come from small places,” he said.

An entrepreneur Davis Musiu who is the CEO and co-founder of Quantum Investments Limited, commended the openness and responsiveness of BPR Bank Rwanda during the session focused on their products and services.

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“We had the opportunity to ask questions directly to the heads of departments and key figures at the bank, and they provided insightful and interesting answers,” he said.

He also noted the bank’s willingness to collaborate with startups, which he sees as important for young businesses.

“The bank’s openness to partnerships has been a key takeaway from this session. They are willing to explore proof of concepts and have encouraged us to visit their head office to continue discussions,” he said.

Musiu also noted the bank’s efforts to improve loan accessibility for SMEs, noting, “They informed us about various loan products and their ongoing work to enhance services, especially for SMEs where data availability is often a challenge,” he added.

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