Nyamasheke: BDF making dreams come true
Four months ago, the Business Development Fund (BDF) was launched Nyamasheke district. The BDF is now giving opportunities of Nyamasheke residents with a long time dream of owning a small or medium sized business.
In an exclusive interview with Speaking with Valens Tugirimana, head of BDF in Nyamasheke district said, “The BDF will allow every residents, who has a good business plan but no collateral, to access loans. We believe that this initiative will add to the number of SME’s in the country, lowering the unemployment rate and increasing wealth”
Tugirimana urged residents to utilise the opportunities Business development Fund brings into the district.
BDF-Nyamasheke is in its campaign to sensitise residents on making business proposals and access loans through BDF to start up income generating projects.
Valens Tugirimana said that some residents are not aware of the BDF services thinking it still operates in Kigali city.
“One had to go to Kigali city to access our services but we moved services closer to residents. Women and youth should utilise this chance to start up income generating activities and fight poverty,” he said.
“Residents should come to BDF and get help on project proposals. We recommend valuable projects to financial institutions for loans and train our clients on modern technology,” he added.
Emmanuel Nzaramyabera, motorcycle driver in Tyazo town of Kanjongo sector says that he heard of BDF over the radio and thought it doesn’t concern him. However, he is daring to grab the chance now that services are closer.
“There are many projects we can set up and fight poverty but guarantee becomes is an obstacle. Now that BDF is here, I will prepare my long dream farming project and give it a try” he highlighted.
In its four months presence in Nyamasheke district BDF has helped over 100 residents to access loans.
He explained that after selecting viable proposals, BDF links the owners of the projects to the bank and covers 75 per cent of the guarantee needed to access loans.
The BDF also links entrepreneurs to potential investors and offer a variety of services ranging from matching grants to providing advisory services.
Currently, SME sector comprises the majority of both formal and informal businesses in Rwanda and provides 41% of all private sector employment.
BDF Ltd is a company whose mission is to promote SME development through provision of financial services to enhance the lending mechanisms of financial institutions. The company aims at being the leader in facilitating projects to access financial services through provision of financial facilities and business advisory services.