Last week, Bank of Kigali officials engaged players in the agriculture sector, especially exporters, on some of the bank’s financing solutions aimed at helping them grow. This year, the bank announced plans to invest Rwf 150 billion over the next five years to support the agricultural sector in the country. The move was aimed at boosting production, increasing exports, and creating more employment opportunities for Rwandans.
The bank works with other partners to select the value chain to work with and identify business opportunities. An example of a loan is one for cash crop exports like tea, coffee, or horticultural products. Here, the bank can offer up to a Rwf 1 billion loan that is payable within 12 months to allow the farmers or exporters to finance various processes involved, including harvesting, processing, and shipping. More than 50 percent of Rwanda’s exports come from agriculture, especially in the key value chains of tea, coffee, and horticulture.
Bank officials say they have a responsibility to support the country’s agriculture sector because it employs over 60 percent of the population.
[ Rwf100 = € 0.07 ]