Building Futures: The Ingenzi Initiative’s Partnership with BDF for Youth Empowerment

Eric Iradukunda from the Business Development Fund (BDF) encourages students at the EMVTC Remera to take advantage of government opportunities to embark on projects that will generate profits. This message was shared during a training session organized on Thursday, October 25th, by the Ingenzi Initiative in collaboration with BDF.

Iradukunda, who works in investment analysis at BDF, stated, “When we have the chance to meet young individuals like these, we inform them about the significant opportunities that the government has made available through BDF.”

During the session, he explained the different products offered by BDF, including micro-leasing, leasing, agribusiness, consulting, and others, which are designed to assist students in obtaining guarantees, investments, and other financial products. He expressed gratitude to the Ingenzi Initiative for their partnership with BDF, noting, “This collaboration is an excellent opportunity that eases our work, allowing us to meet beneficiaries, engage with them, answer their questions about our products, and provide the necessary explanations.”

Ndugu Philbert, the legal representative of the Ingenzi Initiative, shared that they organize the Ingenzi Youth Entrepreneurship Workshop to unite young people and discuss entrepreneurship.

“This is the fourth time we have conducted these workshops, and we have successfully worked with youth from across the country in our first three sessions. This time, we are honored to collaborate with BDF to demonstrate to students that with a business idea, they can realize their dreams,” he said.

Philbert added that despite the benefits, attendance among young people at these events remains low.

Engineer Thadee Murwanashyaka, the deputy school director in charge of students and courses at EMVTC, emphasized the value of the collaboration between Ingenzi Initiative and BDF, stating, “It serves as a reminder to our students of the opportunities available to them. This initiative is crucial as it alleviates the common challenges they face in securing investments or loans after graduating.”

Ndorimana Dennis, a student in Automotive Mechanics at EMVTC, expressed his excitement about the potential to start his own business. “After I receive my certificate, I plan to open a garage. I would ask for assistance with my project, and once I obtain funds of up to 5 million Rwandan francs for equipment, I would begin my work and develop professionally,” he shared.

Ingabire Charite Aimee Rose, a student from IPRC Kicukiro, affirmed her intention to leverage the opportunities provided by BDF. “BDF can help me fulfill my dream, especially since the equipment needed to start a business related to my field is quite expensive,” she stated.

The Ingenzi Initiative is a newly established NGO focused on empowering youth and women, particularly in areas related to entrepreneurship, promotion of arts and professional skills, health advancement, sports, and tourism. While it has been operational for some time, it aims to expand its reach with the support of donors and partners like BDF.

BDF assists individuals under 30 years old and women with a 75% guarantee, while men over 30 receive a 50% guarantee. For young professionals who have completed their training and obtained a certificate, BDF offers to purchase equipment needed to start their business, capped at 5 million Rwandan francs.

Additionally, BDF can provide up to 10 million Rwandan francs for investment in agribusiness, with at least 30% covered by government support, which means that recipients only pay 70% of the 12% interest rate—much lower than the typical 25% charged by banks. Although a mortgage is generally required, those without it may seek assistance from others or consult with BDF for solutions.

BDF also provides advisory services to help entrepreneurs run their businesses productively. In 2023, BDF disbursed over 9 billion Rwandan francs, with at least 6 billion allocated to young people and women.

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