Women in Muganza sector of Rusizi district have been called upon to form cooperatives and access bank loans under Business Development Fund (BDF).Women groups are allowed business loans where they pay 25 percent collateral and 75 percent of the collateral paid by BDF.
Some women in Muganza sector do small scale businesses because they are not capable of accessing loans from banks and financial institutions as individuals.
“Do not waste this opportunity the government availed to you. Form cooperatives, access bank loans and set up development projects,” said Honorable Nura Nikuze, Senate Member of Parliament.
“My social condition improved when I joined the cooperative. I have purchased a cow that gives me milk and manure,” said Marie Chantal Mukangarambe, a member of community health workers’ cooperative
“Women should exploit available initiatives like BDF and get bank loans. This will increase their confidence to working hard and attain socio-economic development,” said Marie Jeanne Mukandera; coordinator of national Women’s Council in Rusizi district.
There are 28000 residents in Muganza sector and 70 percent are women.
Business Development Fund (BDF) is dedicated to increasing business and employment opportunities for Rwandans by allowing them to access capital without the need for collateral.
The BDF allows every Rwandan, who has a good business plan but no collateral, to access loans. This Initiative adds to the number of Small and Medium Enterprises in the country, lowering the unemployment rate and increasing wealth.