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BK won the title of excellent partner
When the event in Mulindi officially concluded on Friday, August 9, 2024, BK management was awarded as one of the best partners.
BK supported Agrishow this year to make its preparations and processes run smoothly, while also helping farmers and breeders find places where they can increase their knowledge, buy the tools they need for their work, and meet different technicians in the field.
After receiving the award, BK’s Director for Agriculture and Breeding Sector, Theophile Akwiyimana, said they were happy that the support they had given enabled them to achieve their goals as it was a fun time attending the show as most of them were knowledgeable about agricultural technology.
The 17th Agrishow won the BK Award
“As BK, we see different opportunities to work with farmers and other agricultural people so that we can help them increase their production to the satisfaction of the country,” he said.
He added, “During these 10 days, we have had the privilege of publicly demonstrating what we owe to agricultural cooperatives, whether it is corn, rice, milk or seed producers. Frw.”
BK said the program was achieved in cooperation with its partner USAID Hinga Wunguke by purchasing markets that have close ties with foreign producers and taking over the agricultural sector and various other ways in cooperation with USAID Hanga Akazi so that they can create jobs through agriculture.
The Bank of Kigali has been providing other services to farmers including uncollateralized loans of up to 15 million euros to women, they also provide funds to be used for coffee as the coffee season is about to start, and funds to buy all kinds of tools including cars and machinery to be used for agricultural work, all of which were explained to the participants of the event.
Bank of Kigali attends agricultural and livestock exhibition
Violette Niyigena, secretary of United Youth, one of BK’s clients, which is responsible for market research and marketing, said the partnership with the Bank of Kigali has helped their development.
He said, “Because BK is the one we work with the most, we have the opportunity to meet with other financial institutions, but from the information I have at the Bank of Kigali, if you look at the interest on loans, it is trying to lower it.”
The Minister of Agriculture and Livestock, Dr. Ildephonse Musafiri, said the Ministry of Agriculture he represents has designated insurance for farmers and breeders to cover 40% of the cost to ensure the safety of their crops and livestock.
He said, “We are taking some steps on the issue of loans, the ministry and the government of Rwanda are trying to reduce loans to agriculture and livestock, which are increasing but making less profit. We are now able to get at least 10% and 9% loans for agriculture and livestock in the banks we work with and we hope that this will continue, we started this advocacy and we will continue.
Minister Dr. Musafiri said they will continue to work with financial institutions to facilitate farmers and breeders
The Bank of Kigali is a financial institution that is at the forefront of facilitating farmers as they provide funding in this area and pay it at an interest rate of 8%, which is a significant drop from the previous rates which were 18%.
In the past 10 days of operations, the Bank of Kigali has opened accounts for more than 100 new clients and is currently working with more than 100,000 farmers and breeders, including members of cooperatives, individual producers, members of the agricultural and breeding industries, as well as input traders and others who sell products or products used in agriculture and breeding in different parts of the country.
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