SPARK Ignite: Partnering with KCB Rwanda to make loans accessible for SMEs
By Jado Kabengera
SPARK is working in Rwanda since 2011 in the field of Private Sector Development, supporting start-up enterprises as well as small businesses to grow. Small businesses are an important force for employment creation and poverty reduction. Work in them accounts for an important share of employment in developing countries. Yet one of their greatest challenges is accessing start-up capital.
SPARK works through partners who provide comprehensive support to entrepreneurs both in business development aspects; training, coaching, mentoring and follow-up support. SPARK partners run regular business plan competitions in order to stimulate, encourage and support entrepreneurs. The observation is that many viable start-up enterprises do not get bank loans because there is no or not enough collateral. As a result no investment is undertaken, and no jobs are created.
It’s in this context that on the 8th of July, SPARK signed a partnership agreement with KCB Rwanda in the head office of KCB. KCB is a local bank experienced in working with small and medium enterprises in order to make finance more accessible for small entrepreneurs. This collaboration, under SPARK partner projects will facilitate new businesses to start up and grow by offering risk-sharing, base interest rate, sufficient grace period and a proper follow up.
* Jado Kabengera is a Programme Officer for SPARK Rwanda
SPARK IGNITE is SPARK’s blog of stories, updates and opinions by SPARK staff, on relevant topics in the news, stories from the fields, and what inspire us to do what we do. We welcome external contributions; to contribute please contact media[at]spark-online.org.
Related news
-
Event
International Women’s Day: Invest in Women
-
News
In conversation with: Audrey Pascale Nisabwe, filmmaker and Founder of MARK IT
On International Women’s Day, filmmaker and director, Audrey, discusses the making of SPARK’s Follow the Fish film, being a woman…
-
News
The Skills Training and Education Programme: Supporting youth to have economic impact in Lebanon and Jordan
-
Report
Impact Report: Positive increase in youth and women employment, reduction in desire to migrate
The International Security and Development Center conducted an Impact Assessment of one of SPARK’s programmes (LEAD 2) in Tunisia and…
-
News
Sustainable localization: Burundi’s Fish Centre handed over to National Fish Federation
-
News
SPARK in 2023
In 2023, youth faced many protracted challenges, as well as new crises: from the earthquakes in Türkiye and Syria, to…
-
News
Meet SPARK’s new Board of Directors
-
News
Global Refugee Forum 2023: It’s time for bold steps on economic inclusion for refugees
The landscape for refugees has changed dramatically in the four years since the last Global Refugee Forum. At the start…
-
News
November at SPARK
Updates from SPARK’s activities for the month of November 2023.
-
Global Entrepreneurship Week 2023
-
October at SPARK
-
2022 Annual Report
-
Modernising the fishing sector around Lake Tanganyika, Burundi