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Small and Medium Enterprises (SME) BUSINESS GUIDE

RWANDA SMALL AND MEDIUM

ENTERPRISES (SME) BUSINESS GUIDE

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TABLE OF CONTENT

Small and Medium Enterprises (SME) BUSINESS GUIDE

Acronyms and Abbreviations.....................................................................................................................................................4 Foreword…….......................................................................................................................................................................................6 SECTION ONE: SUMMARY OF THE SME DEVELOPMENT POLICY..............................................................10 1.0 Overview.................................................................................................................................................................10 1.1 Definition of SMEs.............................................................................................................................................10 1.2 SME Development Policy Implementing Partners...............................................................................11 1.2.1 Rwanda Development Board (RDB).......................................................................................................11 1.2.2 Ministry of Trade and Industry (MINICOM)……………….....………………..…………………………………..….12 1.2.3 Rwanda Cooperative Agency (RCA)......................................................................................................12 1.2.4 Private Sector Federation (PSF).............................................................................................................12 1.2.5 Rwanda Development Bank (BRD)........................................................................................................13 1.2.6 Business Development Fund....................................................................................................................13 1.3 SME Development Policy Objectives and Selected Initiatives........................................................13 1.3.1 Policy Objective 1: Promote a Culture of Entrepreneurship among Rwandans...............14 1.3.2 Policy Objective 2: Facilitate SMEs Access to Business Development Services..............16 1.3.3 Policy Objective 3: Put in Place Mechanisms for SMEs to Access Appropriate Business Financing.............................................................................................17 1.3.4 Policy Objective 4: Simplify the Fiscal and Regulatory Framework for SMEs Growth....17 SECTION TWO: ACCESS TO BUSINESS REGISTRTION....................................................................................24 2.0 Business Registration.....................................................................................................................................24 2.1 Sector Specific Registration Services:…………………………………………………………………..……………………32 SECTION THREE: ACCESS TO BUSINESS FINANCING.....................................................................................48 3.0 Introduction..........................................................................................................................................................48 SECTION FOUR: ACCESS TO BUSINESS DEVELOPMENT SERVICES.........................................................86 4.0 Introduction..........................................................................................................................................................86

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SECTION FIVE: ACCESS TO OTHER BUSINESS SUPPORT SERVICES.....................................................110 5.0 Introduction.......................................................................................................................................................110 5.1 Legal Service and Arbitration...................................................................................................................110 5.2 Marketing and Advertising Services......................................................................................................122 5.3 Auditing and Accounting Services..........................................................................................................117 5.4 Clearing, Forwarding and Transportation Service..........................................................................130 5.5 Insurance Service Providers.....................................................................................................................140 ANNEX 1: PRACTICAL TAXATION TIPS...............................................................................................................148 ANNEX 2: SIMPLE IMPORT AND EXPORT PROCEDURES...........................................................................151 ANNEX 3: PROCUREMENT GUIDELINES............................................................................................................1523

ACRONYMS AND ABBREVIATIONS ADB



African Development Bank

Small and Medium Enterprises

ACRONYMS AND ABBREVIATIONS

(SME) BUSINESS GUIDE

PFI



Participating Financial Institutions

BDS Business Development Services

PPPMER

BDF



Business Development Fund

Enterprises Rurales

BNR



National Bank of Rwanda

PTA



Business Partners International

PPP



BPI



Projet Pour la Promotion des Petites et Micro Preferential Trade Agreement Public Private Partnership

BRD Rwanda Development Bank

PSF Private Sector Federation

BTC

Belgian Technical Cooperation

RAMA

CAPMER

Centre d’Appui aux Petites et Moyennes Enterprises

RBS

CBS



Centre for Business Solutions

RCA Rwanda Cooperative Agency

CMA



Capital Markets Authority

RDB Rwanda Development Board

DFID



Department for International Development

REDP





La ‘Rwandaise d’Assurance Maladie



Rwanda Bureau of Standards



Rwanda Entrepreneurship Development Program

DPs Development Partners

REMA

Rwanda Environmental Management Authority

EDPRS

Economic Development and Poverty Reduction Strategy

RIF

Rural Investment Facility

EEG

Enterprises Expansion Grant

RRA



European Investment Bank

RSSB



EIB





Rwanda Revenue Authority Rwanda Social Security Board

GDP Gross Domestic Product

RTTA

GoR Government of Rwanda

RURA

GIZ German International Cooperation

RWF Rwandan Francs

ICT

Information and Communications Technology

SACCO

IDA

International Development Association

SMEs

Small and Medium Enterprises

IFAD

International Fund for Agricultural Development

TVET

Technical Vocational Education and Training

IFC

International Finance Cooperation

USADF

United States African Development Foundation

IPAR

Institute of Policy Analysis and Research

USAID

United States Agency for International Development

JICA

Japan International Corperation Agency

VAT Value Added Tax





MFI Micro Finance Institutions

WB

MINEDUC

Ministry of Education

WDA

MINICOM

Ministry of Trade and Industry

MINIRENA

Ministry of Natural Resources

MOH NCHE







Rwanda Travel and Tour Operators Association Rwanda Utilities Regulatory Agency Savings and Credit Cooperatives

World Bank Workforce Development Authority

Ministry Of Health National Council for Higher Education

NGOs Non Governmental Organizations

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OAG



ORG



Operational Assistance Grants Office of Registrar General

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FOREWORD

Small and Medium Enterprises (SME) BUSINESS GUIDE

T

his Small and Medium Enterprises (SME) Business Guide has been developed by Rwanda Development Board (RDB) to support the growth and development of small and medium enterprises in Rwanda. The SME Business Guide contains a summary of the SME development policy, information on business registration, access to business financing, and access to business development services available to existing and potential local entrepreneurs. This Guide has been developed upon the realization that SMEs form the bedrock of the economy and will be a key input in the implementation of the SME development policy that was passed by Government in 2010. SMEs are frequently the prime source of new jobs and play a crucial role in income generation, especially for the poor. Many governments and international donor agencies seek to promote the development of SMEs through establishing support agencies and enterprise development projects.

■Section ■ Two: Business Registration Service Providers ■Section ■ Three: Access to Business Financing ■Section ■ Four: Access to Business Development Services ■Section ■ Five: Access to other Business Support Services The Guide provides general information current as at the time of production. While every effort has been taken to ensure accuracy of information provided in this document, it is not intended to be a substitute for professional advice. Rwanda Development Board (RDB) would like to thank you for taking time to use the Guide and hope that it will be a catalyst to your growth and development.

Clare Akamanzi CEO, RDB

An important element for promoting enterprise development is to have a suitable enabling environment for business creation, survival and growth. The enabling environment refers, among other things, to policy and regulatory issues, infrastructure, financial and business development services. This Guide therefore acts as a one-stop information point for SMEs to access business development services and enhance their capacity. The Guide is structured into five sections including: ■Section ■ One: Summary of the SME Development Policy

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Small and Medium Enterprises (SME) BUSINESS GUIDE

SECTION ONE:

SUMMARY OF THE SME DEVELOPMENT POLICY 8

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SECTION ONE: SUMMARY OF THE SME DEVELOPMENT POLICY 1.0 OVERVIEW The Government of Rwanda (GoR) has a vision to become a middle-income country. In order to achieve this goal the medium term Economic Development and Poverty Reduction Strategy (EDPRS) states that it must achieve an annual GDP growth rate of 8.1% and increase off-farm employment to 30% by 2012. The SME sector, including formal and informal businesses, comprises 98% of the businesses and 41% of all private sector employment in Rwanda. Most micro and small enterprises employ up to four people, showing that growth in the sector would create significant private sector non-agricultural employment opportunities. Currently, over 80% of the population is engaged in agricultural production. (Source: SME Development Policy 2010) The SME sector also has the potential to lower Rwanda’s trade imbalance and it is the GoR’s vision to increase the role of value-added exports to increase export revenue and reduce the import-export gap. The GoR also seeks to reduce its dependency on foreign aid and debt by increasing internal tax revenue. Since 2009, tax revenues have increased largely from the collection of Value Added Tax (VAT) and the role of SMEs in this cannot be undermined. Despite the above, there had not been a coordinated policy to address the SME landscape and unlock the underlying potential of SMEs in national development prior to 2010. In order to contribute to achieving increased off-farm employment and tax revenue, the GoR developed and is currently implementing a coherent and well coordinated SME Development Policy. The major aim of the policy is to create an enabling environment for the growth and development of the SME sector in Rwanda.

1.1 DEFINITION OF SMES According to the SME Development Policy 2010, SMEs have to fulfill two of three indicators- net capital investments, annual turnover and number of employees.

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Small and Medium Enterprises (SME) BUSINESS GUIDE

SMEs are therefore defined as below: Table 1: Definition of SMEs:

Size of the Enterprise

Net Capital Investment (Million RWF)

Annual Turnover (Million RWF)

Number of Employees

Micro Enterprises

Less than 0.5

Less than 0.3

1 to 3

Small Enterprises

0.5 to 15

0.3 to 12

4 to 30

Medium Enterprises

15 to 75

12 to 50

31 to 100

Large Enterprises

More than 75

More than 50

More than 100

Source: SME Development Policy 2010

A Micro Enterprise is therefore defined as an enterprise employing maximum 3 people; annual sales/revenue turnover of maximum 0.3million and net capital investment of maximum 0.5 million. A Small Enterprise is defined as an enterprise employing 4 to 30 people; annual sales/revenue turnover of between 0.3 to 12million and net capital investment of between 0.5 to 15million. A Medium Enterprise is defined as an enterprise employing 31 to 100 people; annual sales/revenue turnover of 12 to 50 million and net capital investment of 15 to 75million.

1.2 SME DEVELOPMENT POLICY IMPLEMENTING PARTNERS The SME Development Policy 2010 is being implemented through a host of government agencies which include the following: 1.2.1 Rwanda Development Board (RDB) RDB was formed to coordinate and combine all services and support for Rwandan private sector development including investment and export support, business registration, environmental and tax advice, free trade zone and IT development and cluster specific programs such as tourism development. RDB’s vision to transform Rwanda into a dynamic global hub for business

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SUMMARY OF THE SME DEVELOPMENT POLICY

Small and Medium Enterprises (SME) BUSINESS GUIDE

investment and innovation focuses on the macro situation in Rwanda. RDB is the lead agency in the policy implementation and provides several specific initiatives to support SMEs, including training programs, networking and moveable asset registration, in addition to working to improve the overall business environment in Rwanda. 1.2.2 Ministry of Trade and Industry (MINICOM) MINICOM is a government ministry mainly responsible for creating a conducive business environment for growth; increasing the share of services and manufacturing in GDP; supporting private sector growth and job creation with a focus on SMEs; and promoting trade integration into regional and global markets with a focus on improving the country’s trade balance. The ministry has a vision to achieve accelerated and sustained economic growth led by a dynamic and competitive private sector. The ministry is currently implementing a variety of programs through its Single Project Implementation Unit (SPIU) aimed at SME growth and development. Some of these include the Hanga Umurimo Project, Projet pour la Promotion des Petites et Micro-Entreprises Rurales (PPPMER-II); Competitiveness and Enterprise Development Project (CEDP); Rwanda Investment Climate Project (RICP); Enhanced Integrated Framework (EIF); Governance for Competitiveness Technical Assistance Project (G4C). 1.2.3 Rwanda Cooperative Agency (RCA) Rwanda Cooperative Agency has been created to support the development of Rwandan cooperatives, whose business activities are similar to SMEs, though they have a different taxation and registration procedure. It works to train and regulate cooperatives in tandem with the Rural Small/Micro Enterprises Promotion Project Phase II (PPPMER-II), a project in MINICOM, mandated to provide marketing and other support to cooperatives and SMEs in rural areas. 1.2.4 Private Sector Federation (PSF) Supported by the GoR, though a private sector member based institution, the Private Sector Federation (PSF) was formed to represent the interests of the private sector vis-

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à-vis the GoR. Working through organized chambers, PSF collects information from private sector actors, provides training and support to these actors and advocates for their needs. PSF runs a network of Business Development Service Centers (BDS) under a new model of independent BDS providers within the framework of public private partnerships. PSF also hosts an annual business plan competition to support youth in business, which has grown from 10 to 100 winners a year. Winners receive guaranteed loans from partner banks. 1.2.5 Rwanda Development Bank (BRD) The financial sector is also working to support Rwandan SMEs through financing mechanisms. A large proportion of the Rwanda Development Bank’s (BRD) lending activities provide direct financing to SMEs and cooperatives, refinancing to microfinance institutions, equity financing and equipment leasing through agricultural and other loan funds. These loans provide financing primarily for agricultural production activities, in marketing as well as processing, and through non-agricultural activities such as tourism, ICT, social infrastructure, manufacturing and services. Other lending facilities, managed by commercial banks as well as Micro-finance Institutions (MFI), target women, cooperatives, youth and agro-business. 1.2.6 Business Development Fund BDF Ltd is a multi-talented limited company, with expertise in the areas of Credit Guarantee, Lines of Credits, Matching Grants and Business Advisory Services. BDF Ltd administers funds from different government entities such as: Funds for agriculture from MINAGRI; Funds for women from MIGEPROF; Funds for public service retrenched employees from MIFOTRA; Funds for Microfinance refinancing; Funds for SMEs (developmental projects in other sectors). BDF is a subsidiary of Rwanda Development Bank.

1.3 SME DEVELOPMENT POLICY OBJECTIVES AND SELECTED INITIATIVES The GoR has put together five policy objectives in order to address the challenges faced by SMEs and enhance their growth and development. Each of these policy

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Small and Medium Enterprises (SME) BUSINESS GUIDE

objectives has several specific strategies and there are some initiatives that are already being undertaken through the various implementing partners and government agencies as summarized below: 1.3.1 Policy Objective 1: Promote a Culture of Entrepreneurship among Rwandans The first policy objective is to address the lack of entrepreneurial skills in Rwandans. Entrepreneurial culture is underdeveloped given the short history of business in the country and the absence of successful role models. Based on this background, the government of Rwanda through the various government agencies and ministries has introduced a number of initiatives to help improve entrepreneurship culture in the country. Some of these initiatives include the following: Hanga Umurimo Project: Hanga Umurimo project is a country wide entrepreneurship drive that is aimed at creating 1.4 million off-farm jobs across the country by 2020. The project is under the stewardship of MINICOM with other participating partners like RDB, BRD, BDF, PSF and Financial Institutions. It aims at rewarding 10 best business plans in every district with start-up or expansion capital. The criteria for award of funding is based on innovativeness, potential for job creation, position within the district’s top five priority clusters and potential for value addition and export. Business Plan Competition: The Business Plan Competition was initiated by PSF in 2004 in order to identify and provide funding to promising enterprises through competition in Rwanda. The program aims at providing funding and technical support to young and start-up Rwandan entrepreneurs with innovative and sustainable technical ideas, identified through a competitive process nationwide. Kuremera Fund-MIFOTRA Kuremera Fund was conceived as one of the strategies to generate jobs, thus solving the unemployment problem in the long run. Kuremera is a five year program targeting unskilled, semiskilled youth and women. The program will be

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implemented in two phases with phase one commencing in Kigali City and one urban district in each province. The project will be rolled out to other parts of the country in Phase Two. The fund is managed under the Ministry of Labor and Public Service (MIFOTRA). Inspire Africa: Inspire Africa is a regional Human Capital Development organization with the sole goal of engineering successful entrepreneurship in Africa through identifying the best business minds and guiding them through their entrepreneurial cause by providing them with logistical assistance, knowledge and other requisite services to propel them into successful business personalities. The program is held annually and prize money is awarded on a competitive basis with the overall winner getting US$ 50,000. It involves participants from other regional countries like Kenya and Uganda. Though a private entity, Inspire Africa has received tremendous funding and support from the Rwanda Development Board. Technical, Vocational Education and Training (TVET): TVET is a program being championed by the Workforce Development Authority (WDA). The program was identified as one way of transforming Rwanda into a middle income country by enabling many people especially the youth to become job creators as opposed to being job seekers. The Government of Rwanda will therefore establish five Integrated Polytechnic Regional Centers equipped with an Incubation Center that will help nurture technical and vocational skills across the country. Skills Development Fund (SDF): The Skills Development Fund is an initiative of the Workforce Development Authority with support from the World Bank. SDF aims at minimizing the skills gaps by rapidly increasing the supply of high demand skills in the labour market. Grants range from US$10,000 to US$100,000. The funding is eligible for both private and public training institutions including non-governmental organizations that provide training and is granted on a competitive basis.

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SUMMARY OF THE SME DEVELOPMENT POLICY

Small and Medium Enterprises (SME) BUSINESS GUIDE

1.3.2 Policy Objective 2: Facilitate SMEs Access to Business Development Services The second policy objective aims at facilitating SMEs access to business development services. This has 3 components, each of which contributes to improving services and providing capacity building support for SMEs. These components include: 1. Business Development Services: RDB has established business development service centers in each of the 30 districts in the country. These centers provide a variety of services including; Access to finance training; Market information; Access to IT; Business advisory clinics; Training on bookkeeping; Advice for completing tax return; and Tax advisory services amongst others. The BDS centers are being managed by private consultants under a publicprivate-partnership model. These centers are located in all districts. 2. Access to Local, Regional and International Markets and Market Information: The second component of access to business development services is the access to local, regional and international markets and market information. Several initiatives have been undertaken by government regarding the access to markets. The country is part of the East African Community (EAC) and Common Market for East and Southern Africa (COMESA) that ensures that movement of goods and services are eased within member states. Private Sector Federation (PSF) has also been annually organizing the Rwanda International Trade Fair (RITF) besides also facilitating local companies to participate in regional and international trade fairs. This is done is collaboration with the trade division under the Trade and Manufacturing Department- RDB. PSF also occasionally organizes provincial trade fairs. The Business development centers are also being equipped to provide market information and networking opportunities for SMEs. 3. Promote Innovation and Technical Capacity of SMEs for Competitiveness International experience, as well as examples from the Rwandan context, have shown the positive impact appropriate technologies and infrastructural

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developments can have on the SME sector and especially manufacturing and start-ups. In this regard, the GoR has embarked on infrastructural development. Access to ICT services is now possible through the BDS centers. A number of initiatives have also been created to encourage innovation amongst the SMEs. Several awards have been initiated to help recognize achievements in the economy. Some of these awards include the RDB Business Excellence Awards; Top 100 Mid-Sized Companies and other sector specific awards. 1.3.3 Policy Objective 3: Put in Place Mechanisms for SMEs to Access Appropriate Business Financing The GoR is committed to addressing the problem of lack of access to finance which has been frequently cited as one of the biggest challenges for SMEs. In this regard, there are funds available for SMEs to assist in lending. Currently there are four credit lines and four guarantee funds created by GoR for which SMEs are eligible. These include funds for export promotion, agricultural development and SME development. They are managed by two different entities: the National Bank of Rwanda (BNR) and the Rwandan Development Bank (BRD). Other initiatives under this objective include Women and Youth Access to Finance Rwanda which is being run by Ministry of Youth and ICT and MIGEPROF; Kuremera Fund being run by MIFOTRA; Hanga Umurimo by MINICOM; Business Plan Competition by PSF; and other guarantee funds managed under BNR and BRD. 1.3.4 Policy Objective 4: Simplify the Fiscal and Regulatory Framework for SMEs Growth The promotion of a legal and regulatory framework, that supports the development of SMEs, is key to both promoting and formalizing the sector. Rwanda has taken tremendous steps towards improving the business environment including key reforms to the business environment and the introduction of a flat tax regime for SMEs.

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Small and Medium Enterprises

SUMMARY OF THE SME DEVELOPMENT POLICY

(SME) BUSINESS GUIDE

New Tax Regime: The GoR has introduced a flat tax regime as per Law No. 28/2012 of 27/07/2012 modifying and complementing Law N° 16/2005 of 18/08/2005 on Direct Taxes on Income. This has been modified as follows: ■Taxable ■ income is rounded to the nearest thousand (1,000 RWF) Rwandan Francs and taxed according to the following table:

Some of the key reforms include:

Table 3: Annual taxable income

Annual Taxable Income (RWF)

Tax Rate

From

To

0

360,000

0%

360,001

1,200,000

20%

Source: Official Gazette no. 37 of 10 September 2012

■Small ■ enterprises must pay a lump sum tax of three percent (3%) on annual turnover. ■Micro-enterprises ■ following their Annual turnover must pay the flat amount of tax as per table below: Table 4: Annual flat amount of tax

Annual Turn Over

Annual Flat Amount of Tax Due in Rwandan Francs

From 2,000,000 to 4,000,000

60,000

From 4,000,001 to 7,000,000

120,000

From 7,000,001 to 10,000,000

210,000

Source: Official Gazette n0. 37 of 10 September 2012

The above tax regime came into effect on 10th September 2012. The government has also simplified tax payment for SMEs to quarterly payments as opposed to the monthly declarations that were being previously used.

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Business Reforms: Since 2011, the GoR has been undertaking radical reforms which have made it easier for businesses to start, deal with construction permits, register property, and trade across borders, to further ease doing business in the country. Other reforms including dealing with insolvency, getting credit now with even movable property, and paying taxes have boosted Rwanda’s ratings in the World Bank’s ‘Doing Business Report’.

■Starting ■ a Business: Introduced free online business registration and reduced physical registration fees from 25,000 to 15,000Frw; ■Registering ■ Property: Eliminated the following requirements which have now become optional; ■Notarization ■ of sale agreement and instead signature of sale agreement can be done at the Registry during submission; ■Tax ■ clearance certificate is no longer required from a client and instead RRA works directly with National Land Centre to provide information on tax status of clients ■Dealing ■ with Construction Permits: Several application procedures were merged from 14 to 6 procedures relieving clients of interaction with utility providers. In a single application form, a client will apply for a construction permit, connections for water, electricity and telephones. ■Trading ■ Across Borders: Only three out of eight required documents for customs declarations are now required making other three optional. Those maintained are; commercial invoice; Packing list and Bill of Lading/airway bill and those made optional are; Certificate of origin; Health certificate; Transit cargo document; Terminal

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SUMMARY OF THE SME DEVELOPMENT POLICY

Small and Medium Enterprises (SME) BUSINESS GUIDE

handling receipt and Importation License. ■Other ■ key reforms include the insolvency law; the establishment of a credit reference bureau and the establishment of an arbitration center.

The next sections provide information on registration requirements, access to business financing, access to business development services and access to other business development services.

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Small and Medium Enterprises (SME) BUSINESS GUIDE

SECTION TWO:

ACCESS TO BUSINESS REGISTRATION SERVICES

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SECTION TWO: ACCESS TO BUSINESS REGISTRATION 2.0 BUSINESS REGISTRATION Most businesses operating in Rwanda start informally as a family business; formalization of the business only becomes necessary when there is a need to obtain an operating license, open up a business bank account, and to separate the business operation from personal finances. The steps required to formalize a business in Rwanda have been simplified with Rwanda Development Board (RDB) acting as a one-stop center for investors. It’s advisable to register the business entity no matter the size of operation. Logical steps to setting up a company include: ■Deciding ■ on the type of business ■Identifying ■ a company name ■Registration ■ with Rwanda Development Board ■Obtaining ■ necessary secondary licenses from line ministries and government agencies ■Register ■ with local authorities/councils/ for operating permits e.g. trading license ■Register ■ with RSSB if you employ more than 8 people ■Register ■ with Rwanda Revenue Authority and obtain a Tax Identification Number (TIN) and VAT number ■Registration ■ has been simplified and starting a business now requires two steps and 6 hours only: Step 1: Approval of Company name, Submitting your application and fees Step 2: Obtaining Certificate of Incorporation: The registration process has also been further simplified with the services currently available free online on www.org.rdb.rw/busregonline

For various registration related services, contact the following organizations;

Small and Medium Enterprises (SME) BUSINESS GUIDE

Rwanda Development Board (RDB) Gishushu, Nyarutarama Road, P.O.Box 6239, Kigali Rwanda Tel: 252 580804 Email: [email protected] Website: www.rdb.rw Contact: Office of Registrar General (ORG) Organizational Brief: The Office of the Registrar General (ORG) is a division of the Investment Promotion and Implementation Department at RDB. Its principal role is to register and maintain a register of all businesses, secured transactions and intellectual property rights Services: ■Registering ■ individual enterprises ■Registering ■ local companies ■Registering ■ a branch of foreign company in Rwanda Requirements for Accessing Services: Registering Individual Enterprises ■Complete ■ the application form ■Copy ■ of ID and one colored passport photo ■Payment ■ of registration fees of RWF 2,000 at RDB Registering local companies: ■Complete ■ the application form ■Copy ■ of ID/Passport of applicant ■Complete ■ two copies of Article 14 of the Companies Act (Memorandum of Association) ■Payment ■ of registration fee of RWF 15,000 at RDB Registering a branch of foreign company in Rwanda: ■Complete ■ the application form ■Duly ■ authenticated certificate of registration from country where the company

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(SME) BUSINESS GUIDE

is incorporated (notarized by a public notary) ■Memorandum ■ and Articles of Association (notarized) ■List ■ of Directors residing in Rwanda ■Copy ■ of ID of company representative ■Power ■ of Attorney authorizing the representative to act on behalf of the company (notarized) ■Payment ■ of registration fee of RWF 15,000 at RDB The Office of the Registrar General allows companies to make changes to the business and submit an annual return. The table below offers a summary of the different procedures and requirements to file changes as well as other services offered by the ORG.

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Filing additional activities for Individual business: - Complete the application form - Submit original of registration certificate - Payment of RWF 2000 at RDB

Filing additional activities for companies: - Complete the application form - Two notarized copies of minutes of the Board meeting authorizing the filing of additional activities - Original registration certificate - Payment of RWF 10,000 at RDB

Change in share capital: - Submit shareholder resolution authorizing change in share capital - Submit share certificates for newly issued shares - Payment of RWF 12,000 at RDB

Duplicate of registration certificate: - Proof of loss of original certificate from the high court - Copy of registration certificate - Complete the application form - Payment of RWF 10,000 at RDB

Change of company name: - Notarized minutes of Board meeting authorizing the change of name - Complete the form provided - Payment of RWF 3,000 at RDB

Cessation of trading activities: - Letter to the Registrar General with copy stamped by RRA - Tax clearance certificate from RRA - Original of registration certificate

Transfer of shares: - Complete form provided - Notarized minutes of board meeting authorizing and detailing the transfer of shares - Provide share certificate for each shareholder (issued by the company and duly signed by the Managing Director) - Copy of the company register - Payment of RWF10,000 - Payment of RWF 2,000 for the filing deed

Issuing certificate of nonbankruptcy: - Letter to ORG requesting certificate of non-bankruptcy - Tax clearance certificate from RRA - Certificate of nonbankruptcy issued by a commercial court - Patente issued by local government - Copy of registration certificate - Payment of RWF 1,000 at RDB Re-registration in compliance with the new Companies Act: - Complete application form provided - Submit original certificate of registration - Submit TIN - Copy of ID/Passport of all shareholders and directors - Amended memorandum and articles of association

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Small and Medium Enterprises

ACCESS TO BUSINESS REGISTRATION

Directorate General of Immigration and Emigration Kacyiru, Kigali P. O. Box 6229, Kigali, Rwanda Tel. +250 78 815 2222 / +250 78 889 9971 Fax +250 252 585292 Email: [email protected] Website: www.migration.gov.rw Contact: Public Relations Office Organizational Brief: The agency is a government agency set-up to handle immigration and emigration services in Rwanda. Its vision is to build Rwanda as a prosperous, welcoming and secure nation. Services: Issue residence (business) visa: An investor as well as expatriate staff is granted a one year visa renewable. Cost of Services: Residence/Business Visa: RWF 10,000 or RWF 50,000 based on salary earned by the individual for oneyear renewable. Free for East African Community citizens. Requirement for Accessing the Service: All applicants require the following documents: ■Immigration ■ application form ■2 ■ passport photos ■Valid ■ passport ■Police ■ clearance certificate from current country of residence

(SME) BUSINESS GUIDE

Rwanda Social Security Board (RSSB) P.O.Box 250/6655 Kigali-Rwanda Plot 1003 Ubumwe Cell, African Union Boulevard, Kiyovu, Nyarugenge Tel: 252 598400 Fax: 252 584445 Email: [email protected] Website: www.rssb.rw Contact: Public Relations Office Organizational Brief: RSSB was established after the merger of Social Security Fund of Rwanda (SSFR) with Rwanda Medical Insurance (RAMA). The mandate of the institution is to administer social security in the country including pension, occupational risks and health insurance. An employer contributes 5% of the employee’s monthly gross salary and 3% is deducted from the employee’s gross salary as contribution to the social security fund. Services: ■Registration ■ for social security ■Issuance ■ of social security clearance certificate ■Health ■ insurance and occupational risks ■Pensions ■ Cost of Services: ■Registration ■ for social security- free ■Issuance ■ of social security clearance certificate: RWF 10,000 ■Health ■ insurance and occupational risks: Depends on package subscribed to. ■Pensions: ■ Registration is free Requirements for Access of Services: Registration for social security: ■Certificate ■ of Incorporation (Business)

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ACCESS TO BUSINESS REGISTRATION

(SME) BUSINESS GUIDE

■Filled ■ and stamped application form ■Employee ■ contracts Issuance of social security clearance certificate: ■Declaration ■ for the quarter ■Proof ■ of payment of all dues (3% monthly contribution by the employee and 5% monthly contribution by the employer) Proof of payment of certificate fees Health insurance and occupational risks: ■Certificate ■ of registration ■List ■ of beneficiaries and the selected package Pensions: ■Certificate ■ of registration ■Social ■ Security registration certificate ■Employee ■ registration number ■Employee ■ contracts

Rwanda Revenue Authority Kimihurura Avenue du Lac Muhazi, P. O. Box 3987 – Kigali, Rwanda Tel: 252 595500 Toll Free Line: 3004 (Call Center) E-mail: [email protected] Website: www.rra.gov.rw Contacts: Commissioner Domestic Taxes Organizational Description: The Rwanda Revenue Authority was established under law N° 15/97 of 8 November 1997 as a quasi-autonomous body charged with the task of assessing, collecting, and accounting for tax, customs and other specified revenues. Services: ■Issuance ■ of TIN Numbers

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■VAT ■ registration ■License ■ to operate a private or public bonded warehouse ■License ■ to operate a duty free shop Cost of Services: Issuance of TIN numbers and VAT registration: is provided free of charge License to operate a bonded warehouse: ■USD ■ 2,000 for public bonded warehouse per year ■USD ■ 3,000 for private bonded warehouse per year License to operate a duty free shop: ■USD ■ 3,000 per year ■Free ■ if operating within the airport Requirements for Accessing Services: ■Certificate ■ of Incorporation for (VAT and TIN registration) Private or public bonded warehouse: ■Applicant ■ must be a Rwandan or a permanent resident or an investor registered with RDB ■Possession ■ of a trading license issued in Rwanda ■Tax ■ clearance certificate ■Filled-in ■ application form ■Plan ■ for the premises ■Bank/insurance ■ guarantee Duty free shops: ■Be ■ a permanent resident or an investor registered with RDB ■Trade ■ license issued in Rwanda ■Tax ■ clearance certificate ■Submission ■ of a plan, location of shop and the business plan ■Bank ■ guarantee ■Payment ■ of license fee (if applicable)

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ACCESS TO BUSINESS REGISTRATION

Small and Medium Enterprises (SME) BUSINESS GUIDE

2.1: Sector Specific Registration Services Upon incorporation of the company at Rwanda Development Board (RDB), the following are some of the sector specific license granting authorities that may be necessary for your business:

National Bank of Rwanda Kiyovu, Kigali P.O.Box 531, Kigali, Rwanda Tel: 252 591423 Fax: 252 572551 Website: www.bnr.rw Organizational Brief: National Bank of Rwanda is a government agency set up to ensure and maintain price stability; enhance and maintain a stable and competitive financial system; and to support government’s general economic policies. It is also charged with regulating the financial sector. Services: ■License ■ to operate a commercial bank ■License ■ to operate a microfinance ■License ■ to operate an insurance company ■License ■ to operate as an insurance broker ■License ■ to operate a forex bureau Cost of Services: License to operate a commercial bank: ■Application ■ fees of RWF 5,000,000, minimum capital of RWF 5,000,000,000 and supervision fees of RWF 5,000,000 per month License to operate a microfinance: ■Application ■ fees of RWF 50,000 and minimum capital of RWF 300,000,000 License to operate an insurance company: ■Application ■ fees of RWF 1,000,000 and minimum capital of RWF

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1,000,000,000 License to operate as an insurance broker: ■■Application fees of RWF 100,000 and minimum capital of RWF 50,000,000 License to operate a forex bureau: Minimum capital of 20,000,000 and application fees of RWF 150,000 and supervision fees of 300,000 Requirements for Accessing Services: License to operate a commercial bank: License to operate a microfinance: License to operate an insurance company: License to operate as an insurance broker: ■Fill ■ business registration forms or notarized copies of articles and memorandum of association ■Certificate ■ of incorporation ■A ■ five year business plan ■Management ■ agreements or service contracts ■Professional ■ indemnity covers of RWF 200,000,000 from a registered insurance company in Rwanda. ■Minimum ■ capital of RWF 50million License to operate a forex bureau: ■A ■ certified copy of the resolution of the shareholders. ■A ■ certificate of incorporation ■The ■ applicant’s memorandum and articles of association ■A ■ declaration by the applicant that no director, shareholder or a staff has a similar position or role in any other forex bureau; ■A ■ bank statement of the forex bureau’s shareholders and directors for a period of six months prior to the date of application; ■Credit ■ reports from a credit reference bureau for the shareholders, directors or managers of the forex bureau; ■Latest ■ tax compliance certificate or certified true copy of income tax returns for the shareholders, directors or managers of the forex bureau;

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(SME) BUSINESS GUIDE

■Complete ■ a personal declaration form and sworn declaration of assets and liabilities for each of the applicant’s shareholders, proposed directors and management ■Proof ■ of payment of a non-refundable application fee of 150,000 RWF; ■Business ■ plan and projected financial statements for at least the next 2 years; ■An ■ insurance certificate covering the cash and valuable in premises;

Capital Markets Authority (CMA) 5th Floor, Ecobank Building Avenue de la Paix, Kigali P. O Box 6136, Kigali-Rwanda Tel: 252 500 335 Email: [email protected] Website: www.cma.rw Contacts: Public Relations Office Organizational Brief: The Capital Market Authority was established by the Law No11/2011, to guide in the development of a capital market in Rwanda. The authority is charged with regulating the capital markets and licensing stock brokers Service: ■Licensing ■ stock brokers ■Funds ■ mobilization through Initial Public Offers (IPOs) Cost of Service: Licensing stock brokers: ■Application ■ fees of 300,000 ■Admission ■ fees of 320,000 ■Annual ■ subscription fee of RWF 160,000 and RWF 80,000 for dealers Requirements for Accessing Services: ■Licensing ■ stock brokers ■Memorandum ■ and articles of association

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■Fill ■ in an application form ■Summary ■ of the business plan ■Certificate ■ of incorporation ■A ■ declaration by the directors that information disclosed is a true representation of the facts contained in the application ■Funds ■ mobilization through IPOs: ■Fulfill ■ listing requirements ■Fulfill ■ disclosure guidelines

Rwanda Utilities Regulatory Agency (RURA) Kiyovu, P.O.Box: 7289 Kigali-Rwanda Tel: 252 584562 Hotline: 3988 Fax: 252 584563 Email: [email protected] Website: www.rura.gov.rw Contacts: Public Relations Office Organizational Brief: Rwanda Utilities Regulatory Agency (RURA) was created with the mission to regulate public utilities, such as telecommunications network and services; electricity; water; removal of waste products from residential or business premises; extraction and distribution of gas; and transport of goods and persons. Services: ■Licensing ■ (media, telecommunications, internet service providers, transport providers, solid waste disposal providers) ■Monitoring ■ Performance of Service Providers ■Standards ■ and Type Approval ■Tariffs ■ Review ■Consumer ■ and User Protection ■Disputes ■ resolution

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(SME) BUSINESS GUIDE

Cost of Services: Cost is dependent on the type of license applied for. Requirements for Accessing Services: Requirements for licensing for private stations, internet cafes and ISPs include: ■Authorization ■ from the Media High Council ■Application ■ form duly filled ■Copy ■ of certificate of incorporation ■Certified ■ copy of articles and memorandum of association ■Business ■ plan ■Technical ■ proposal

National Council for Higher Education Kacyiru Po Box: 622 Kigali Email: [email protected] Web: www.mineduc.gov.rw Contacts: Customer Service

Ministry of Health P.O. Box 84 Kigali, Rwanda Tel: 252 577458 Fax: 252 576853 Email: [email protected] Website: www.moh.gov.rw Contact: Public Relations Office Organizational Brief: The main goal of the Ministry of Health is to provide and continually improve the health services of the Rwandan population through the provision of preventive, curative and rehabilitative health care thereby contributing to the reduction of poverty and enhancing the general well-being of the population.

Organizational Brief: National Council for Higher Education was established as an independent Government Agency to support it in transforming higher education. The National Council for Higher Education is responsible for ensuring the structure, organization and functioning of higher education institutions and monitoring and evaluating the quality and standard of provision and ensuring the quality enhancement of teaching and research.

Services: ■License ■ to open a pharmacy ■License ■ for operating a pharmaceutical distribution center ■License ■ to operate a private clinic/a laboratory ■License ■ to operate a clinic, specialized clinics, polyclinic and hospital

Services: ■License ■ to establish a private higher education institution ■Quality ■ assurance

Cost of Service: License to open a pharmacy: ■Free ■ License for operating a pharmaceutical distribution center: ■Free ■

Cost of Service: ■No ■ fees are charged

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Requirements for Accessing Services: ■Application ■ addressed to the minister in charge of higher education ■The ■ application must be accompanied by the documents as specified on the ministry’s website.

License to operate a private clinic/a laboratory: ■RWF ■ 10,000

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(SME) BUSINESS GUIDE

License to operate a clinic, specialized clinics, polyclinic and hospital: ■RWF ■ 50,000 for clinics and RWF 100,000 for hospitals Requirements for Accessing Service: License to open a pharmacy: ■Application ■ letter requesting approval and must be approved by the respective head of province or mayor of Kigali. ■Detailed ■ curriculum vitae of the pharmacist in-charge with certified copy of certificates ■Academic ■ papers (diplomas or degrees) ■Fully ■ completed application form ■Additional ■ documents include: two passport photos, trade registration certificate, copy of ID, letter committing not to practice medicine in the establishment. License for operating a pharmaceutical distribution center ■Duly ■ signed application letter ■Certified ■ copies of the certificate of the pharmacist in-charge ■Certificate ■ of registration from the council of pharmacists ■A ■ duly filled application form ■A ■ detailed curriculum vitae of the pharmacist in-charge ■Additional ■ documents include: two passport photos, trade registration certificate, copy of ID, letter committing not to practice medicine in the establishment and a contract between pharmacist and the owner of the business License to operate a private clinic/a laboratory: ■Application ■ letter and applicant must be a doctor ■Certificate ■ of registration from the medical council ■Memorandum ■ of association in case of an association ■A ■ duly recognized university degree in medicine ■Proof ■ of 3 years of experience ■Staff’s ■ CVs with a degree ■Report ■ from the district recommending the application

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License to operate a clinic, specialized clinics, polyclinic and hospital ■Application ■ letter and applicant must be a degree holder in medicine ■Curriculum ■ vitae of the applicant ■Staff’s ■ CV’s with a degree ■Report ■ from the district recommending the application

Ministry of Natural Resources Remera, Gishushu, P.O. Box 3502, Kigali, Rwanda Tel: +250 252 582628 Email: [email protected] Website: www.minirena.gov.rw Contact: The Minister Organizational Brief: The Ministry of Natural Resources (MINIRENA) was established to ensure sustainable management and rational use of natural resources in Rwanda. The ministry encompasses the dockets of land, water resources, forests, and minerals. Services: ■Issue ■ prospecting license ■Issue ■ research license ■Mining ■ exploitation license ■Concession ■ license Cost of Services: Data on costs currently unavailable Requirements to Access Services: Prospecting License: ■Application ■ letter approved by the mayor ■A ■ topographic map showing the limitations of area being applied and duly signed by the executive secretary and the mayor

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(SME) BUSINESS GUIDE

■Business ■ plan ■Environmental ■ protection plan ■Full ■ address of the applicant Research License: ■Must ■ be a holder of a prospecting license ■A ■ prospection report ■Applicant’s ■ technical and financial ability ■Business ■ plan ■Feasibility ■ study ■Tax ■ clearance certificate issued by RRA ■Environmental ■ Impact Assessment report and program of environmental protection Mining Exploitation License ■Must ■ be a holder of research license ■Research ■ report ■Payment ■ of environmental caution fees ■Statement ■ of environmental preservation and rehabilitation ■Tax ■ clearance certificate ■Investment ■ plan ■Feasibility ■ study Concession License: ■Clearance ■ certificate issued by financial institutions in the country ■Tax ■ clearance certificate ■A ■ statement of environmental protection and preservation ■Investment ■ plan

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Ministry of Internal Security Kacyiru, Kigali P.O. Box: 446 KIGALI - RWANDA Tel/Fax: 252 587881 E-mail: [email protected] Website: www.mininter.gov.rw Contact: Permanent Secretary Organizational Description: The mission for the Ministry of Internal Security is to guarantee security for persons and their property throughout the country for every body’s benefit without any discrimination in the strict sense of international conventions. The ministry also oversees the operations of private security agencies in the country. Services: ■License ■ to operate a private security company ■Cost ■ of service: Free of charge Requirements for Accessing the Service: ■Application ■ letter indicating the complete identity of the managerial team and the shareholders ■Company ■ profile indicating the banker and the district in which they want to operate from ■Certificate ■ of good conduct for the shareholders ■Notarized ■ articles and memorandum of association ■Trading ■ license ■Description ■ of the uniforms

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Small and Medium Enterprises (SME) BUSINESS GUIDE

Rwanda Bureau of Standards (RBS) Kicukiro Centre, Kicukiro District PO Box: 7099 Kigali-Rwanda, Tel: +250 252-582945, Fax +250 252-583305, RBS Hotline: 3250 Website: www.rwanda-standards.org Contact: Quality Assurance Unit Organizational Description: Rwanda Bureau of Standards (RBS) is a public institution established to undertake all activities pertaining to the development of standards, quality assurance and metrology in the country. It is the only body with powers to define and posses national standards. Public services and public or private firms are required by law to present their standards to RBS for adoption at national level. Services: ■Imports ■ inspection ■Certification ■ of goods ■Quality ■ assurance and consumer protection Cost of Services: Imports inspection: ■An ■ importer or agent shall have the duty to pay fees to the Bureau as prescribed below: ■■ Transport, board and lodging costs and additional time of the Bureau personnel during the inspection and sampling of the consignment or shipment if the inspection and sampling is done outside the official station; ■■ Fees equivalent to 0.2 percent of the Cost and Freight of the consignment or shipment for inspection, sampling and testing ■■ Additional testing fees if in the opinion of the Bureau they cannot be covered by the 0.2 percent fee; ■■ Fees to cover the cost of re-inspection, re-sampling and re-testing of a reworked consignment or shipment ■■ Fees to cover any re-sampling and re-testing that may be considered by the Director

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Certification of goods or services: ■Quality ■ assurance and consumer protection: free of charge Procedures for Accessing Services: Imports inspection ■Arrival ■ of goods and Presentation of arrival note or packing list, invoice, bill of lading, certificate of analysis and any other documents. ■Physical ■ verification and Sampling where necessary ■Data ■ entry and QIF payment ■Release ■ under seal where sampled awaiting test results ■After ■ test result, goods/products found complying shall be released to the importer whereas Goods /products found not complying shall be rejected and detained. Certification of goods ■The ■ applicant fills the application form ■Submission ■ of quality documents by applicant for desk audit (only required for E-Mark and System certification) ■Product ■ sampling and testing ■Correction ■ of raised non-conformities by the applicant ■Certification ■ (with validity of 2 years for product and 3 years for system) ■Surveillance ■ audits (3 audits for S-Mark, and 2 audits for E-Mark) ■Market ■ Sampling of certified products (4 samples are taken for S-Mark, and 2 samples for E-Mark) ■Renewal ■ of certification

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Small and Medium Enterprises (SME) BUSINESS GUIDE

Rwanda Cooperative Agency (RCA) SOPETRAD, Nyarugenge P.O.Box 6249, Kigali Tel: 4163 Email: [email protected] Website: www.rca.gov.rw Contacts: ■■Planning and Capacity Building Unit (Training) ■■Legal Unit (Registration) ■■SACCO Development Unit (SACCOs)

■A ■ certificate delivered by the local authorities of the District in which the Cooperative Organization is located ■RCA ■ also offers other services like promotion, supervision, audit and capacity building of the cooperatives. These services are offered free of charge for all cooperatives.

Organizational Brief: Rwanda Cooperative Agency (RCA) was set up to develop the cooperative sector so that it serves its members equitably, efficiently and empowers them economically. RCA is charged with the registration of SACCOs, capacity building of these SACCOs and regulating the sector. It is a government agency. Services: ■Registration ■ of Cooperatives: ■■Cost of registration is RWF 1,200 and this is paid to the district account Requirements: ■Should ■ have at least 10 members ■Letter ■ applying for legal personality ■Four ■ copies of the by-laws of the Cooperative Organization bearing the date, signatures or finger prints of all founder members ■Four ■ copies of the minutes of the Constituent General Assembly meeting of the Cooperative Organization bearing the signatures or finger prints of all founder members ■Four ■ copies of a list of the members of the Board of Directors and of the Supervisory Committee indicating their names, addresses, functions and the signature of each member ■A ■ specimen of the signature or fingerprints of persons authorized to represent their Cooperative Organization before the law

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Small and Medium Enterprises (SME) BUSINESS GUIDE

SECTION THREE:

ACCESS TO BUSINESS FINANCING 46

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SECTION THREE: ACCESS TO BUSINESS FINANCING 3.0 INTRODUCTION Accessing finance has been singled out as the most limiting factor to entrepreneurship development and business growth especially for SMEs. In Rwanda, SMEs have access to limited financing that has caused their retardation. The access to formal financing is still low due to risks that are inherent to SMEs and shortage of the existing financing options. Indeed, many entrepreneurs are hardly able to meet the requirements set by the financing institutions due to lack of information on the ability of refunding, lack of securities and the non-existence of long-term financing for SMEs. The non-banking financial corporate such as microfinance institutions may play a critical role in granting credits to SMEs but they do not have enough resources to serve a larger client base. However, with government interventions and the rapid development in the financial sector over the last decade, there are several business financing options that are available to SMEs including: ■Debt ■ finance: ■■Banks/financial institutions; this include loans, overdraft, trade financing, leasing and special assets acquisition products. ■■Guarantee schemes offered by insurance, as well as banks to ease access to credit facilities. ■■Government programs ■■Regional trade finance being provided by the regional banks offering mainly medium to long term financing , PTA and ADB ■Equity ■ finance: ■■Venture capital being offered by international development partners like IFC, ADB, through accredited commercial banks. ■■Public listing mainly for large corporate companies like Bank of Kigali and Bralirwa although this option is yet to be applied to SMEs.

For business financing facilities for SMEs, the following are the current available providers:

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Small and Medium Enterprises (SME) BUSINESS GUIDE

Rwanda Development Bank (BRD) Boulevard de la Révolution, P.O.Box 1341, Kigali, Rwanda Tel: 252 573558 / 252 575079 / 252 575080 Toll free number: 3288 Fax: 252 573569 E-mail: [email protected] Website: www.brd.rw Contact: SME & Leasing/Project Identification Unit Organizational Brief: BRD is the Government of Rwanda’s investment arm that finances the nation’s development objectives with a focus on the priority sectors of the economy. It currently has the Export Promotion Fund, MFI credit line and SME Guarantee Fund under its portfolio. Other subsidiaries of BRD include the Rwanda Housing Bank, BRD Advisory Services Ltd and Business Development Fund Ltd. Services: ■■Investment Financing ■■Loans ■■Leasing\Equity Financing ■■Refinancing ■■Capacity Building ■■Advisory ■■Retail Financing ■■Current Accounts ■■Mortgage Financing ■■Trade Finance ■■Overdrafts Cost of Services: ■■Loans are given at an annual interest rate of 16%; Advisory service at 1% and capacity building is conducted free of charge.

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Conditions for Accessing Services: General conditions: ■■The main conditions for obtaining the Bank’s financial backing are as follows: ■■A feasibility study for the project (technical and financial). ■■Adequate technical capacities in the field of the project for which finance is being sought, ■■Capacity to manage the project, ■■Adequate market share to ensure a good turnover level, and project profitability ■■A minimum participation by the promoter varying between 30 and 50% of the cost of investment according to the size of the project. Guaranties: The Bank must get adequate guarantees for the loans it gives out. These are usually in the form of: ■■Mortgages with title deeds, ■■A pledge of receivables, ■■The joint guarantee of spouse, associates, other partners… ■■A guarantee from the Government, a guarantee fund, a bank, other partners, foreign organizations etc. ■■The pledge of material or financial resources ■■Accidents and fire insurance, etc. Financial condition: The interest rate is negotiable between the Bank and the customer and takes into account the cost of resources used for the financing, the collateral security offered, the risk of the investment, the credibility of the investor and the economic and the social impact of the project.

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(SME) BUSINESS GUIDE

Ecobank- Rwanda Avenue de la Paix P.O.Box 3268, Kigali-Rwanda Tel: 252 503580/1-8 Fax: 252 501319/ 573790 Email: [email protected] Website: www.ecobank.com Contact: SME Relationship Officer Organizational Brief: Ecobank is the leading pan-African bank with operations in 32 countries across the continent, more than any other bank in the world. It currently operates in countries in West, Central, East and Southern Africa. It started operations in Rwanda in 2007. Services: ■■Business Loans ■■Letters of Credit ■■Agricultural loans ■■Capacity building for SMEs Cost of Services: ■■Interest rate is dependent on the prime lending rate and the lending risk Requirements for Accessing the Service: ■■Should be an operational account holder ■■Fill in application form ■■Attach certificate of incorporation ■■Submit a viable business proposal ■■Submit security or collateral

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(SME) BUSINESS GUIDE

KCB Bank Rwanda Ltd Avenue de la Paix P.O.Box 5620 Kigali, Rwanda Tel: (+250) 5222 E-mail: [email protected] Website: www.kcbbankgroup.com/rw Contact: SME Manager Organizational Brief: KCB Bank Rwanda Ltd is a subsidiary of KCB Group that has its headquarters in Kenya. The bank is also found in South Sudan, Tanzania and Burundi. KCB started operations in Rwanda in 2008 and currently has 10 branches in both Kigali and in the provinces. The bank is also cross listed on the Rwanda Stock Exchange. Services and Requirements: Business Current Account ■■Fill KCB application form ■■Two quality colour passport-size photographs of account signatories ■■Original and copy of National Identification Card or Passport ■■Relevant certificate of Registration/Incorporation Business Investment Account ■■KCB application form ■■Two quality colour passport-size photographs of account signatories ■■Original and copy of National Identification Card or Passport ■■Adequate reference ■■Relevant certificate of Registration/Incorporation Fixed and short term deposits (allows loan of up to 90% of deposit value) ■■One quality colour passport-size photographs ■■Original and copy of National Identification or Passport ■■Funds to be invested

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Business Loans (syndicated loans and overdrafts): ■■Must be an account holder ■■Application form ■■Viable Business Plan ■■Collateral Security ■■Certificate of Incorporation Mortgage and Property Finance ■■Application ■■Collateral ■■30% of amount being requested Cost of Services: Interest rates range from 16 to 20% depending on the product accessed

Bank of Kigali Plot No.6112, Avenue de la Paix P.O. Box 175 Kigali-Rwanda Tel: +250-252 593100 or +250-788143000 Call Center: 4455 Fax: +250-252 575 504 or 250-252 573 461 Email: [email protected] Website: www.bk.rw Contact: Corporate Department/SME Desk Organizational Brief: The Bank started operations in 1967 and was initially founded as a joint venture between the Government of Rwanda and Belgolaise, with each owning 50% of the ordinary share capital. It is currently the largest bank in terms of assets and is the second domestic company to be listed on the stock exchange. Services and Cost: Term Loan for SMEs: ■■This is given at an interest rate of 15-17.25%

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Small and Medium Enterprises (SME) BUSINESS GUIDE

Cash Credit Lines/Overdrafts: ■■Interest rate of 16-17.25% Discount on Invoices: ■■Interest rate of 16-17.25% Bank Guarantee: ■■Interest rate of 3.5% Investment Loan or Equipment Loan: ■■Interest rate of 17.25% Letters of Credit Requirements for Accessing Services: ■■Term Loan for SMEs: ■■Cash Credit Lines/Overdrafts: ■■Copy of ID if Rwandan or passport if foreigner ■■Letter of request ■■If a tender, contract from tenders required ■■Proposed security ■■Financial statements for the last 2 to 3 years if a new customer ■■Trade license ■■Status of company (MOU) Discount on Invoices: ■■Letter of request ■■Copy of ID if Rwandan or passport if foreigner ■■Financial statements for the last 2 to 3 years depending on the business ■■Pending invoices discounted and approved ■■Business contracts ■■Trade license

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Bank Guarantee:- Performance Bond, Advance Payment and Bid Bond Security ■■Notification letter from beneficiary ■■Format to follow if there is any ■■Letter of request ■■Copy if ID is Rwandan or passport if foreigner ■■Copy of contract ■■Security (house or cash collateral) Investment Loan or Equipment Loan: ■■List of proformas with items ■■Security i.e. building ■■Copy of ID if Rwandan or passport if foreigner ■■Financial statements for the last 3 years ■■Trade license ■■MOU for a company ■■Board resolution allowing company to borrow money Letters of Credit: ■■Copy of ID if Rwandan or passport if foreigner ■■Letter of request ■■Financial statements for the last 2 to 3 years depending on the business ■■Proformas with description of goods and amounts ■■Details of the Bank that corresponds with BK ■■Guarantee required ■■Tangible Security ■■30% provision

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ACCESS TO BUSINESS FINANCING

Amasezerano Community Banking African Union Boulevard (Rwandex-Sonatube) Imprimerie Select Graph Building P.O.Box 4691, Kigali-Rwanda Tel: 255 100980 Email: [email protected] Website: www.acb.rw Contact: Finance Department Organizational Description: Amasezerano Community Banking, S.A. is a for-profit microfinance institution founded in 2005 by the Rwandan NGO African Evangelist Enterprises-Rwanda (A.E.E.) and 60 individual shareholders. Its mission is to bring a holistic impact on poor people’s lives through quality financial services.

(SME) BUSINESS GUIDE

Urwego Opportunity Bank (UOB) Plot 1230 Nyarugenge, Avenue de la Paix P.O Box 748, Kigali, Rwanda. Phone: +250 0830 3957 / +250 500 160 Fax: +250 57042 E-mail: [email protected] Website: www.uob.rw Contact: Loans Officer Organizational Brief: Since 1997 Urwego Opportunity Bank (UOB) has been serving Rwandans who are economically-active but whose banking needs are underserved. As a Christian microfinance bank, UOB seeks to provide opportunities for those in poverty to transform their lives, not only economically, but socially and spiritually.

Services: ■■Credit offerings including group solidarity loans, agricultural loans, loans for women entrepreneurs, small business loans, and loans for salaried workers. ■■Money transfer service through MTN Mobile money (local transfer) and Money Transfer (international transfer) ■■Foreign currency exchange ■■Life insurance service Cost of Service: Costs vary depending on inflation rate, market rate and operating cost for that service or product. Procedures for Accessing the Service: ■■Must have an account and should be operational for at least two months ■■Certificate of business incorporation ■■Must have a viable project proposal for which finance is being requested ■■Fill in application forms that are available at the bank

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Services: Credit: ■■Loans for microenterprises and consumers so they can achieve economic transformation. Savings: ■■Deposit products for microenterprises and consumers so they can safely save their money and have convenient access to cash when needed. Insurance Services: ■■For microenterprises and consumers so they can secure protection against unexpected tragedies, natural disasters, and/or crop failures. Remittance Services: ■■Affordable channels so microenterprises and consumers can send and receive funds.

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(SME) BUSINESS GUIDE

Education/Training: ■■On-going education/training for microenterprises and consumers so they can achieve social and spiritual transformation. Cost of Services: ■■Cost is dependent on existing interest rates Procedure for Accessing Services: ■■Must have an account and should be operational for at least two months ■■Certificate of business incorporation ■■Must have a viable project proposal for which finance is being requested ■■Fill in application forms that are available at the bank

Agaseke Bank Boulevard de l’Aéroport, Remera-Kigali, P.O.Box 265 Kigali- Rwanda Tel: 252 585697 Email: [email protected] Website: www.agasekebank.com Contact: Finance and Administration Department Organizational Brief: Agaseke Bank was started by Dévelopement International Desjardins (DID) and local investors in November 2003 due to the need to provide financial services that are appropriate for the sustainable growth of small and medium-sized businesses. Services: ■■Working capital finance: When additional funds are required in business or when you need to acquire new equipment or to replace an existing one. Requirements for getting working capital finance: ■■Being business person or moral person

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■■Being entrepreneurs or Business person ■■Six months of experience in doing that business ■■Collateral is also required Credit line/credit cash: Both two type of individual loan are issued when there is urgent need for financing cash. A well-determine amount to withdraw beyond the amount available in one’s account. Requirements for getting credit line/credit cash: ■■Being our client for a minimum period of 2months ■■Repayment capacity is required ■■Collateral is also required ■■Venture must be profit making Invoice discount: An advance on invoice of 80% or 90% is given and this is based on the total amount of all unpaid invoices a client has.

FINA Bank Rwanda Ltd 20 Boulevard de la Révolution P O Box 331 Kigali-Rwanda Tel: +250 252 598600 Fax: +250 252 573486 E-mail: [email protected] Website: www.finabank.com/rw Contact: SME Desk Organizational Brief: Fina Bank is a regional business bank with operations in Rwanda, Kenya, Uganda and South Sudan. Its mission is to be the leading business bank across East Africa, looking to support trade and the development of businesses across the region. Services: Business Loans for the finance of:

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ACCESS TO BUSINESS FINANCING

■■Machinery ■■Motor vehicles ■■Land & Building (including renovation of premises). ■■Stocks-in-Trade ■■Business Restructuring / Market Development Cost of the Service: Variable interest rate / floating interest rate, or a flat rate per annum basis. Requirements: ■■Must have an account in Fina Bank ■■Company profile ■■Latest audited financial statements for 3 years ■■Bank statements of at least 6 months ■■Project validity where applicable Fina Overdraft Requirements: ■■Have a Fina Bank account ■■The account must have been active for at least 3 months ■■No tangible security offered unless for amounts exceeding RWF 5 million ■■Individual accident insurance or credit protection insurance ■■Trading license ■■If account holder in another bank, provide a bank statement ■■Maximum period is 1 year Fina Clearance Loan: This product provides an effective solution for business owners or individuals that import goods to Rwanda. Features: ■■Applies to vehicles, business goods, personal items (can virtually apply to any good that needs clearance out of MAGERWA) ■■Amount needed to be loaned within 24hrs ■■Must have a current account with us for at least 3-6 month in good standing, with a minimum balance of 500,000Rwf

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(SME) BUSINESS GUIDE

■■Attractive interest rates ■■Payment within 3-12 months (can go up to 24 month depending on the amount loaned) ■■Collateral with a Loan to Value of 75% Fina Woman’s (Sugira) account is a customized product for women entrepreneurs and cooperatives. It provides an affordable chequing account, mobile and internet banking, loan provision but importantly, financial advisory services on business/financial management.

Equity Bank Grand Pension Plaza Building, Ground Floor P.O.Box 494, Kigali- Rwanda Tel: +250 78838667, +250 728386677 Website: www.rw.equitybankgroup.com Contact: Corporate Department Organizational Brief: Equity Bank Limited - Rwanda is one of the commercial banks licensed by the National Bank of Rwanda, the country’s banking regulator. The Bank commenced its operations in October 2011 with branches in Kigali, Rubavu, Musanze and Muhanga. Currently, the bank has eight branches in operation. Services: Asset Finance Loans: Is a short to medium term loan granted to customers for purchase of moveable capital assets, e.g. motor vehicles, construction equipment, industrial plant & machinery, agricultural equipment, office & IT based equipment. Micro Business Loans: This is a new product targeting the youth which form the bulk of the population. It helps micro businesses: ■■Identify and prepare new business markets ■■Providing the youth with a savings vehicle through which they can access a variety of financial services

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Small and Medium Enterprises

ACCESS TO BUSINESS FINANCING

■■Providing tailor made loans to meet specific needs of the youth ■■Develop a system of business appraisals to determine the youth credit needs ■■Provide the business training and advisory services that will respond to the growing population Trade Finance through: ■■Bank guarantees ■■Letters of credit ■■LPO financing ■■Invoice discounting ■■Pre-shipment financing

Access Bank 3rd Floor, UTC Building Tel: +250 788145100/ +250 252500089/90 Fax: +250 252572501/ 575 761 Email: [email protected] or : [email protected] Website: www.accessbankplc.com Contact: Corporate Department Organizational Brief: Access Bank Rwanda is a subsidiary of the Access Bank Group that has its headquarters in West Africa. It provides both personal and business banking services. Services: Trade Services through: ■■Letters of Credit ■■Bills for Collection ■■Shipping Documents Handling ■■Trade Finance ■■Invisible Trade Payments

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(SME) BUSINESS GUIDE

■■Advisory Services ■■Offshore Guarantees ■■Business Loans Cost of Service: ■■Interest rate is dependent on the market rates (ranges from 16%20%) Requirements for Accessing Service: ■■Certificate of incorporation ■■Collateral ■■Bills of lading and proforma invoice from offshore supplier ■■Business Plan

Banque Populaire (BPR) Muhima-Nyarugenge, P.O.Box 1348 Kigali - Rwanda Phone: +250 57 35 59 Fax: +250 57 35 79 E-mail: [email protected] Website: www.bpr.rw Contact: SME Desk Organizational Brief: Banque Populaire (BPR) was established in 1975 and currently has the largest network in Rwanda. BPR’s mission is to offer a full range of financial services in the urban and rural areas in a market driven and financially sustainable way; based on cooperative characteristics. Special attention is given to farmers, agribusiness enterprises, private individuals and micro as well as small and medium enterprises. Services: Agricultural Loans: Loan terms and conditions:

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(SME) BUSINESS GUIDE

■■To be a BPR client for at least 1 month ■■Present a bankable farming project ■■Loan amount is equivalent to not more 80% of the cost of the farming project to finance ■■The client has to raise 20% of the cost as own contribution ■■Collateral has to be provided SME Loans: Loan terms and conditions: The SME loan finances 80% of the project, the remaining 20% is own equity of the borrower. Collateral for this loan may be: ■■movable or immovable assets ■■the assets acquired by the loan ■■joint guarantee for associations / cooperatives. ■■The borrower needs to be a customer of the bank for at least 1 month ■■The borrower needs to present a viable project for financing. Credit Lines: Conditions: ■■To be a trustworthy client of BPR for at least 1 month ■■To have a viable business that is properly managed ■■Some security is required like assets, the business, or guarantee from a third party Equipment Finance: Conditions: ■■Must be a BPR customer ■■Business cash flow should testify your repayment capacity ■■Pledge assets as security for the loan Invoice Discounting: Conditions: ■■Have to be our customer; ■■The invoice has to be paid through your BPR account; ■■Automatic deduction from your account once invoice payment is made;

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■■May be required to provide security depending on the amount requested; ■■Pay a minimal commission which is deducted automatically on payment of the invoice.

Cogebanque 4th Floor, Centenary House, P.O.Box 5230, Kigali-Rwanda, Tel: 0788 307327 Fax: 503336 Website: www.cogebanque.co.rw Contact: Credit Department Organizational Brief: Cogebanque is one of the commercial banks in the country and has been in operation since 1999. The bank provides both business and personal banking services. Services: Loans; ■■Overdrafts ■■Equipment investment loans ■■Invoice discounting ■■LPO financing ■■Specialized loans including nkomeza, nzamura, jyimbere and mbangukiza e.t.c Funds transfer Business banking Cost of Service: Loans are provided based on the interest rate as determined by the national bank Funds Transfer: percentage of the amount being sent ranging from 1 to 5%. Requirements for Accessing the Service:

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Small and Medium Enterprises (SME) BUSINESS GUIDE

■■Must be an account holder ■■Certificate of incorporation ■■Identification documents for proprietors ■■Collateral security ■■Viable business plan

Commercial Bank of Rwanda/ I&M Bank 11, Boulevard de la Revolution, P.O. Box 354, Kigali, Rwanda Tel: 252 595339 Call Center Tel: 3227 Email: [email protected] Website: www.bcr.co.rw Contact: SME Desk Organizational Brief: Banque Commerciale du Rwanda Limited (BCR) was incorporated on 25th May 1963 as the first commercial bank in Rwanda. In December 2004, BCR marked another milestone when it was privatized and acquired by Actis after recapitalization of the Company’s equity. The bank was acquired by I&M Bank group in 2012. The bank has branches in Kenya and Tanzania. Services: Investment Loan: Granted to customers to finance a known need such as acquisition of business assets, acquisition of another business, expansion or diversification of existing operations. Requirements: ■■Copy of the statutory documents (Statutes/Memorandum of Association and Articles of Association, Certificate of registration or a copy of identity card for individuals) ■■Financial statements for 3 consecutive years (Balance sheet & Income statement). For startups- opening balance sheet and income statement

66

forecast. ■■Cash flow projections for the period of the facility. ■■Tax clearance certificate from the RRA no more than three months old. ■■Business plan. ■■Proposed security and its valuation report. Documentary Letter of Credit: Is an irrevocable undertaking by the bank on behalf of a customer to make payment of specified sums to a specified beneficiary on a specified date provided that specified documents are presented through a correspondent bank in order to finance the import of goods into Rwanda. Basic Application Requirements: ■■Copy of the statutory documents (Statutes/Memorandum of Association and Articles of Association, Certificate of registration or a copy of identity card for individuals) ■■Financial statements for 3 consecutive years (Balance sheet & Income statement). For the start ups- opening balance sheet and income statement forecast. ■■Tax clearance certificate from the RRA ■■Pro-forma invoices or contracts for goods and services to be imported. Invoice Discount: An invoice discount facility is offered to continue running business while waiting settlement of invoices. Basic Application Requirements ■■Copy of the statutory documents (Statutes/Memorandum of Association and Articles of Association, Certificate of registration or a copy of identity card for individuals) ■■Financial statements for 3 consecutive years (Balance sheet & Income statement) if it has been in operation. For the start ups we require opening balance sheet and provisional income statement. ■■Tax clearance certificate from the RRA no more than three months

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(SME) BUSINESS GUIDE

old ■■Accepted invoice received by the paying/the procuring entity. ■■Proposed Guarantee and its valuation. Equipment or Business Vehicle Loan: Purchase that equipment that will power your business to the next level, with our Equipment or Business Vehicle Loan. Basic Application Requirements: ■■Copy of the statutory documents (Statutes/Memorandum of Association and Articles of Association, Certificate of registration or a copy of identity card for individuals) ■■Financial statements for 3 consecutive years (Balance sheet & Income statement) for the start ups - opening balance sheet and provisional income statement. ■■Cash flow projections for the period of the facility. ■■Tax clearance certificate from the RRA no more than three months old ■■Pro forma invoice for new vehicle/proposed equipments ■■Provisional contract of sale and copy of the vehicle certificate for second hand items. ■■Proposed security and its valuation report. Overdraft: Is a facility provided to customers to finance their working capital needs. Basic Application Requirements: ■■Copy of the statutory documents (Statutes/Memorandum of Association and Articles of Association, Certificate of registration or a copy of identity card for individuals) ■■Financial statements for 3 consecutive years (Balance sheet & Income statement). For the start ups, opening balance sheet and income statement forecasts. ■■Cash flow projections for the period of the facility. ■■Tax clearance certificate from the RRA no more than three months old

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■■Current statement and forward projection of stocks ■■List of debtors & creditors including an aging analysis ■■Proposed security and its valuation report.

COOPEDU Kicukiro, Kigali, P.O.Box 4053, Kigali-Rwanda, Tel: 252 570143 Email: [email protected] or [email protected] Website: www.coopedu.rw Contact: Customer Service Organizational Brief: The Cooperative of Savings and Credit Duterimbere is a micro finance institution that offers savings services for customers who cannot usually be served by the traditional banking and financial system and cannot have assets that can be accepted as being sufficient to guarantee full repayment of the loan taken out. Services: ■■Loan for women entrepreneurs ■■Equipment loans ■■Overdrafts Requirements for the services: ■■Application letter ■■A copy of the applicant’s and his/her sponsor’s national identity card or passport ■■Marriage certificate for those who are legally married, certificate of celibacy for those who are single or those who are not legally married, death certificate for widows and widowers. Certificate of divorce for the divorced. All these documents are issued by sector / cell authorities. ■■Expertise that demonstrates the value of a house conducted by a person authorized by BNR. ■■A valid property ownership Certificate to be given as guarantee issued and bearing number by sector authorities.

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(SME) BUSINESS GUIDE

Business Partners International Rwanda SME Fund 1st Floor 1680, Umuganda Boulevard, Kimihurura P.O. Box 7286 Kigali-Rwanda Tel: 252 585065 or 0788 308873 Email: [email protected] Website: www.businesspartners.co.za Brief Description: Business Partners International Rwanda SME Fund is an investment fund for SMEs in Rwanda, together with a parallel Technical Assistance Facility for value adding services. Business Partners provide entrepreneurs with committed partnership, leadership and mentorship offering innovative risk finance solutions for firms that cannot access capital elsewhere. Services: Business Finance (Ranges from US$50,000-US$1,000,000): ■■Start-up capital ■■Acquisition finance ■■Expansion programs Property Finance (up to 100% property financing)

Business Development Fund (BDF) BDF Building Avenue de la Justice, P.O.Box 966 Kigali-Rwanda, Tel: 252 579870/1 Website: www.bdf.rw Contact: CEO Brief Description: BDF Ltd is a multi-talented limited company, with expertise in the areas of Credit Guarantee, Lines of Credits, Matching Grants and Business Advisory Services. BDF Ltd administers funds from different government entities such as: Funds for agriculture from MINAGRI; Funds for women from MIGEPROF; Funds for public service retrenched employees from MIFOTRA; Funds for Microfinance refinancing; Funds for SMEs (developmental projects in other sectors). Services: Guarantee Fund: ■■Agriculture guarantee fund ■■SME guarantee fund ■■Women guarantee fund ■■Retrenched civil servants guarantee fund

Technical Assistance

Lines of Credit

Requirements for Access: ■■Fill-in the application form ■■Business Trading License ■■Business Plan ■■Financial Statement ■■Contract or agreement for the case of property financing

Matching Grant (RIF II) Advisory Services ■■Investment advisory ■■Corporate advisory ■■Micro finance development ■■Quasi Equity Product Requirements for Accessing Services:

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Small and Medium Enterprises (SME) BUSINESS GUIDE

Guarantee Funds: The fund covers any productive investment in any sector and beneficiaries include individuals, companies, associations and cooperatives. The maximum amount guaranteed by the fund is limited to Rwandan Francs Five Hundred Million (Rwf 500.000.000).

■■Category II (Processing of agricultural products): This category includes processing equipment, construction of processing facilities, etc. Project costs can be between RWF 2-150 million. Loans up to RWF 50 million will receive a grant of 25% of the investment loan, while loans above this will receive 20% of the investment.

Conditions: ■■The fund shall guarantee to the extent of 50 - 75% of the initial total risk of the PFI without going beyond the grant ceiling. ■■For loans granted to Microfinance Institutions, the guarantee fund is limited to 30% of the total risk and the ceiling is fixed at Rwandan Francs One Hundred Million (Rwf100.000.000).

■■Category III (Agricultural support services): This category includes seed chain investments, extension services, capacity building (e.g. farmer training businesses), technical assistance (e.g. extension service business), etc. Project costs can be between RWF 2-150 million. Loans will receive a grant worth 15% of the investment loan. Quasi Equity Product: Is a product under BDF that targets mainly start-ups. It was developed to grant needs of people who cannot access banking products easily and is granted on part debt- part equity arrangement. The product currently targets “Hanga Umurimo Project” beneficiaries.

Eligibility of loans and investments: ■■Loans to be covered by the guarantee fund should be term loans granted for productive investments. ■■Investment eligible for SME GF should fulfill the following requirements: ■■New investment for establishment, investment for expansion, modernization of financial restructuring of projects; ■■Working Capital up to Five Million Rwandan Francs (Rwf 5,000,000); ■■Investment projects profitable and productive with significant socioeconomic impact; ■■Project to be environmental friendly; Rural Investment Facility Phase II (RIF II): Three main categories of investments that qualify for RIF 2: ■■Category I (Primary Agricultural Production): This includes investments such as machinery (e.g. feed mixers, traction equipment or irrigation equipment), construction of agricultural buildings (e.g. animal housing, breeding floors), land acquisition and improvements, storage facilities, transport facilities, etc. Project costs can be between RWF 1-50 million. Loans up to RWF 10 million receive a grant of 25% of the investment loan, while loans above this receive a grant of 20% of the investment.

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Conditions: ■■Equity part is 20% whereas debt covers 80% of the funds advanced. The equity is a self liquidating facility and is paid back without interest whereas the debt is paid back with interest of 9-12% Requirements: ■■Business Plan ■■Bank funding amounting to 70% of the project value (the remaining 30% is funded on the quasi equity arrangement with 20% of it being equity and 80% being a debt refundable with 9-12% interest).

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Small and Medium Enterprises

ACCESS TO BUSINESS FINANCING

(SME) BUSINESS GUIDE

United States African Development Foundation Plot 2280, Remera 1, Ave. of Umuganda CCOAIB Building, 3rd Floor P.O.Box 7210, Kigali-Rwanda Phone: (+250) 5 48 63 Email: [email protected] Website: www.adf.gov/rwanda Contact: Country Representative Organizational Brief: The United States African Development Foundation (USADF) is an independent U.S. government agency founded in 1980 and works at the local level in Africa to promote economic growth. USADF resumed its operations in Rwanda in 2006. Services: Economic Growth Grants Directly to Marginalized Communities for small enterprises and cooperatives through: Enterprise Expansion Grants (EEG) Provides funding up to $250,000 over five years for established enterprises and organizations with a viable growth and expansion plan. Operational Assistance Grants (OAG) Provides funding up to $100,000 over two years for improving financial, managerial, and technical capacity, and for limited fixed capital or working capital items. This grant positions the organization to more effectively utilize future expansion funding. Capacity development through local partner organizations Cost of Services: Enterprise Expansion Grants (EEG) Is free and provides funding up to $250,000. Operational Assistance Grants (OAG)

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Is also free and provides funding up to $100,000 Requirements for Accessing Services: ■■The organization must be 100 percent African-owned and managed. ■■The organization must be a legally recognized African entity (or in the process of becoming legally registered. Registration must be completed before any funding may be provided) ■■The organization must demonstrate that it has successfully worked together and has the potential to productively utilize development funds. ■■The ownership and management must be in agreement on the problem to be addressed and have a commitment to benefit their community. ■■The organization must have basic functional management and controls to use and account for USADF funds. ■■The proposed project should represent both the applicant’s and targeted beneficiaries identified needs. ■■The outcome of the project must provide real (measurable) benefits to the community. Benefits include job creation, increased incomes levels, improved market access, and quality of life improvements. Fusion Capital Limited Plot 922, Prester Building, Kacyiru P.O.Box 4408, Kigali-Rwanda Tel: +250 784 119832 Email: [email protected] Website: www.fusioncapitalltd.com Contact: Business Manager Organizational Description: Fusion is a private equity firm that specializes in the Small and Medium Enterprises sector in Sub Saharan Africa. Established in 2006, Fusion operates in Kenya, Rwanda, Uganda and the United Kingdom. The organization has spent over six years building its credibility in East Africa and acts as the vital link between capital and investment opportunities within the region. Services: SME Business Loans:

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ACCESS TO BUSINESS FINANCING

■■Growth loans (Between 37,500US$ to 125,000US$) ■■Acceleration Loans (US$125,000-US$625,000) ■■Acceleration Plus (US$625,000-US$1,750,000) ■■Private Corporate Paper (US$625,000-US$6,250,000) Contract/LPO Finance Private Equity Finance Private Bond Placement Investment Management Application Process ■■Approach Fusion Capital by phone, by visiting, or through the website www.fusioncapitalltd.com ■■Complete a short form, giving some basic data ■■Meet with you to discuss your growth history, your growth plans, and your financial requirements looking ahead ■■Agree on terms for the Growth Loan which work for you and for us ■■Site visit to enhance understanding of the business ■■Issue legal documentation setting out the exact terms and conditions ■■Advance funds to your company account

Mutual Guarantee and Credit Fund (SMGF) Boulevard de l’ Umuganda, Kacyiru 3rd Floor, Building Concorde, Po.Box 1881 KIGALI Tel.: +250 252580455 +250 252580456 +250 0788300170 Email: [email protected] Website: www.smgfrwanda.com Contact: Managing Director Organizational Brief: The Mutual Guarantee and Credit Fund (SMGF) was established in 2008 with a total capital of 513,400,000 Rwf and approved by the NBR. The fund was

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Small and Medium Enterprises (SME) BUSINESS GUIDE

set up to refinance microfinance institutions and increase their activity level especially in the rural areas. Services: Guarantee: The SMGF will guarantee a percentage of the total of the required refinancing credit granted by a Financial Institution of Refinancing (FIR) which can go up to 50%. Direct loan: SMGF grants direct loan for a maximum period of 1 year and in the range of 5 million and 50 million francs. Cost of the Service: For the guarantee The commissions paid by the FIR to SMGF in order to access guarantee are: ■■1% of Filing commissions (flat) ■■2 % of Annual commissions of guarantees. This commission is calculated on the outstanding amount of the credit guaranteed by SMGF. For direct loan ■■2% of the loan is paid upfront at the signing of the contract ■■Interest rate agreed upon between SMGF and the borrowing IMF Requirement to Access Services: In order to request a guarantee or a credit, the following documents have to be submitted to SMGF: ■■Audited MFI Financial statements at least for the 3 previous financial years ■■Development Strategy (MFI’s Business Plan) ; ■■MFI Constitution ■■Description of guarantees given by the MFI; ■■Proof that the MFI is approved by the National Bank of Rwanda ; ■■Proof that MFI is free from any debt; ■■Information about the MFI: Size, composition of the loan portfolio by

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(SME) BUSINESS GUIDE

activity industry, by type of customers (urban, country), statutes, number of customers, number of agencies and counters e.t.c. ■■Information on Governance: Shareholders, Board of Directors, Mechanisms of internal control of management, external Audit, Management with description of competences of senior management, persons charged with financial management. ■■Any other information that can allow an adequate appreciation of the risk related to the requested loan or guarantee.

Vision Finance Company Muhima Avenue, Nyarugenge District P.O.Box 6893, Kigali-Rwanda, Tel: 0788 538767 Email: [email protected] Website: www.visionfundinternational.org Contact: HR and Administration Office Organizational Brief: Vision Finance Company is a micro finance working in the agricultural sector to improve lives of the rural poor. It is a subsidiary of World Vision, an international Non-Governmental Organization. Services: ■■Micro Loans for agricultural sector (offered at interest rate of 2.5% per month) ■■Savings for Clients

Rwanda Micro Finance Albert Supply House, Commercial Street, P.O.Box 6839, Kigali-Rwanda, Tel: 0788 304077 or 0788 309132, Email: [email protected] Website: www.rml.co.rw Contact: Managing Director Organizational Brief: Rwanda Micro Finance is a micro finance institution working towards the provision of cheap credit to the micro, small and medium enterprises. It boasts of four branches including Nyabugogo, Musanze, Muhanga and head quarters in Nyarugenge. Services: ■■Loans (individual, salary, standing order and group loans) Cost of Service: ■■Cost of service is dependent on the prevailing interest rate Requirements for Accessing Services: ■■Copy of national ID ■■Two passport photos ■■Filled loan application form (signed and stamped by employer in case of salary loan)

Requirements for Accessing Service: ■■Provide an ID and Passport photos ■■Have collateral ■■Have no criminal record ■■Viable business plan

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79

Small and Medium Enterprises

ACCESS TO BUSINESS FINANCING

Umwalimu Savings & Credit Cooperative (UMWALIMU SACCO) P.O.Box 2257 Kigali-Rwanda Tel: 252 580424/252 580426 Fax: 252 580426 Email: [email protected] Website: www.umwalimusacco.com Contact: Customer Service Agent Organizational Brief: Umwalimu SACCO is a savings and credit organization dedicated to teachers in Rwanda. It is located in all districts in the country and its major aim is to provide cheap credit and savings opportunities to the teachers. Services: ■■Offers credit to teachers ■■Assist teachers access their salaries easily ■■Savings services Cost of Services: ■■Teachers have to register to become members. The cost of service is also dependent on the prevailing interest rate. This is however; lower than the interest offered by the commercial banks. Requirements for Accessing Service: ■■The teachers simply register with the cooperative with the necessary information such as name of school where they teach. Visit any of the Umwalimu Sacco branches located in your district.

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(SME) BUSINESS GUIDE

Unguka Bank Ltd Central Business District, Opp. Isimbi Hotel, P.O.Box 6417, Kigali Rwanda Tel: 0788 457253 Email: [email protected] Contact: Branch Manager Organizational Brief: Unguka Bank Limited (UBL) was founded in 2005 and transformed into a microfinance bank, following the issuance of a microfinance banking license by the National Bank of Rwanda in 2012. Services: ■■Business Loans for already established businesses ■■Building/ construction financing ■■Agricultural and livestock loans ■■Overdrafts Cost of Services: ■■Interest rate for the above products ranges from 18%-21% and it usually varies depending on the prevalent market rate. Requirements for Accessing Services: ■■Have an active account at the bank for a minimum of 2 months ■■Business registration certificate ■■RRA clearance certificate ■■National ID or Passport ■■Collateral in form of land title or building ■■Project or Business Plan

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Small and Medium Enterprises

ACCESS TO BUSINESS FINANCING

Duterimbere IMF Ltd Sopetrade, Kiyovu P.O. Box 6719, Kigali, Rwanda Tel. 0788305651 Email: [email protected] Web: www.duterimbereimf.co.rw Contact: Director of Operations and Transactions Organizational Brief: Since 1991, Duterimbere ASBL (a not-for-profit association) started giving direct credit to allow women’s access to credit in large numbers. From 1995 to 1996, the business of providing loans reached all provinces of the country and expanded rapidly. The MFI finally got a license from BNR in 2005.

(SME) BUSINESS GUIDE

Zigama CSS Opp. Amahoro Stadium, Remera, P.O.Box 4772, Kigali – Rwanda Tel: 571184 Mobile: 0788 303504 Fax: 575256 Email: [email protected] Website: www.zigamacss.com Contact: Credit Department Brief Description: Zigama CSS is a microfinance bank founded in August 1997, and officially inaugurated in March 1999. It has currently over 60.000 members and 122 employees. It offers a variety of products and services.

Services: ■■Solidarity credits: This type of credit is intended for customers without material guarantee. It finances small businesses as well as agriculture and animal husbandry. ■■Woman entrepreneur credits: These are loans given mainly to individual women entrepreneurs whose needs for working capital exceeded the amounts granted to solidarity groups. ■■Warehouse receipt: It is a product of credit estimated to agricultural cooperatives for storable food crops. ■■Micro leasing for vehicle, motorcycle and wood machine. Cost of Services: ■■Interest rates for the above products vary from 15% and above depending on the prevailing market rate.

Services, Costs and Conditions: Auto Loan: is a product designed to make it easy for one to own what one has longed for (consumption/ investment). Repayment is up to a period of 18 months and is charged at 15% interest rate. Conditions: good savings deposit & established regular income Mortgage/ investment loans: This is a convenient way to own your dream home, buy a business property or expand your existing business premises. The interest rate on this facility is variable and is calculated on a reducing balance. Repayment Terms: up to 60 months Interest charges: 13.5%

Requirements for Accessing Services: ■■Must have an active account for at least 2 months ■■National ID/Passport ■■Project/Business Plan (it must be already operational) ■■Fill the application form available at any branch

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Conditions: good savings & credit history, established regular income Use: investment in construction, income generating activities Money Transfers through CSS Ntuma and international money transfer through Afripayments LLC or Moneytrans depending on the transfer destination.

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Small and Medium Enterprises (SME) BUSINESS GUIDE

SECTION FOUR:

ACCESS TO BUSINESS DEVELOPMENT SERVICES 84

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SECTION FOUR:

Small and Medium Enterprises (SME) BUSINESS GUIDE

ACCESS TO BUSINESS DEVELOPMENT SERVICES 4.0 INTRODUCTION There are a number of institutions providing business development services for SMEs, although they are mainly concentrated in Kigali. Some service providers provide regional programs to cater for those who are outside the capital, however the services are intermittent and not easily available on demand. The other key factor is the lack of standards for the kind of support programs. The absence of proper regulation for capacity building service providers has led to mushrooming of training and capacity building institutions that have very limited capacity, lack the expertise and necessary resources. However notable initiatives have been developed by government with support of development partners that are recommended for SMEs business development process. The institutions providing the services include Private, Government and NGOs. This section has been structured into two different categories including: ■■Capacity Building, Training and Business Counseling services ■■Export Market Access

entrepreneurship. MINICOM has therefore been set up to foster development of trade and industry in the country. The ministry is one of the lead partners in the implementation of the SME Development Policy. Services: ■■Special Economic Zones project in Kigali; ■■Provincial Industrial Parks program for rural industrialization; ■■Creation and promotion of viable and dynamic small and medium enterprises (SMEs)- through Hanga Umurimu ■■Market access for sustainable Business development. ■■Market linkages for CIP crops (maize, cassava, beans, rice, wheat, irish potatoes and tomatoes) Cost of Services: ■■Cost for access to the special economic zones and the industrial parks vary according to the amount of investment being sought. The rest of the services are provided free of charge. Procedure for Accessing the Services: ■■Applications are written to MINICOM for the various services ■■Necessary documents should be attached as per the application

Services providers in the above categories include:

Ministry of Trade and Industry Kimihurura, Kigali, P.O.Box 73, Kigali Email: [email protected] Website: www.minicom.gov.rw Contact: Entrepreneurship Unit Organizational Brief: The Government of Rwanda (GoR) has initiated a broad economic reform agenda from which ambitious but achievable targets have been set for growth and poverty reduction. One of the key pillars of Rwanda’s Vision 2020 is “private sector-led development”, spearheaded by competitiveness and

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Rwanda Entrepreneurship Development Program International Finance Corporation, 4th Floor, SORAS Building P.O.Box 609 Kigali-Rwanda Tel: +250 252 591 343 Email: [email protected] Website: www.ifc.org Contact: REDP Manager Program Overview: REDP was set up to establish a collaborative partnership with institutions that strengthen and enhance entrepreneurship and SME development in Rwanda.

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The objective is to create a forum for meaningful dialogue on improving the country’s investment climate and the private sector’s effectiveness in advocating for reform.

■■ Optimum Consulting Le Prestige Building B2 Third Floor Kicukiro, Kigali Tel: 0758304050, 0788500616 Email: [email protected]

Services: ■■SME Toolkit ■■Business Edge ■■Access to Finance Cost of Service: ■■Service is delivered through Centre for Business Solutions (CBS), a local training partner. The cost is based on commission for the trainers.

Business Development Centres (BDCs)

Procedure for Access to Services: ■■Apply for Training. For details you can visit the IFC website. ■■Training is provided through the following IFC local partners: ■■ Maxinet Group Ltd Boulevard de la Revolution Soras Building- 3rd floor Email: [email protected] Website: www.maxinet-ltd.com ■■ KPS Associates 3rd floor Chadel building, opposite Belgian school Mille Collins Avenue Kigali, Rwanda Tel: 0788 308 080

NORTHERN PROVINCE

■■ Centre for Business Solutions (CBS) Soras Building 3rd Floor Boulevard de la Revolution-Kigali Tel; 0788764642 Email: [email protected] Website: www.cbs-rwanda.com

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RDB/BDCs LOCATION AND ADRESSES

RDB / BDCs LOCATION AND ADDRESS

PROVINCE NO BDC CONTACT PERSON JOB TITLE TELEPHONE EMAIL LOCATION 1 GICUMBI NORTHERN BDC Name: Kabirigi Tel:0788564 [email protected] Near Gicumbi Market PROVINCE Manager Clement 788

TYPE OF BUILDING Kiosk

[email protected]

2

RULINDO

Wilson Rudatinya

BDC Manager

078817398

rudatinyas.wilson@rtnr wanda.org

Near GASIZA Market (Rulindo)

Kiosk

Near GAKENKE Market

New Building

200m from District Office

New Building

Near Muhoza Sector Office (MUSANZE City)

New Building

rudatinyas.wilson@yah oo.fr 3

GAKENKE

Alice Nadine

Tel:0788886 757

alicenakaneza@rtnrwa nda.org

Kaneza

BDC IT Technicia n

Tel:0788689 897

alicenakaneza@yahoo. fr mudidiemma@rtnrwan da.org

Tel: 0788592082

[email protected] jomaombi@rtnrwanda. org;

4

BURERA

Emmanuel Nshimiyimana

BDC Manager

5

MUSANZE

Masengesho Joseph

BDC Manager

[email protected]

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(SME) BUSINESS GUIDE

SOUTHERN PROVINCE

KIGALI CITY

Southern province

PROVINCE

PROVINCE NO CONTACT PERSON PERSON JOB JOB TITLE TELEPHONE LOCATION PROVINCE NO BDC BDC CONTACT TITLE TELEPHONE EMAIL EMAIL LOCATION [email protected] 1 KAMONYI Ingabire Françoise BDC (+250)7884712 100m from Kamonyi SOUTHERN Manager 69 Trade center PROVINCE 2

3

4

MUHANGA

RUHANGO

NYANZA

Rwagasore Alphonse

BDC Manager

(+250)7888439

BDC Manager

(+250)7887301

Ndungutse Sekaharaza

BDC Manager

(+250)7886172

Munezero M.Grace

Umubyeyi Ange

[email protected]

MUHANGA Market

TYPE TYPE OF OF BUILDING BUILDING

New Building

[email protected]

Byimana City (500m from Main Raod KIGALI-BUTARE) 100m from Nyanza Market (Nyanza Town)

Kiosk

(+250)7857596 82

[email protected]

Huye Town

Kiosk

(+250)7886624 42

[email protected]

Near the District Office

New Building

6

NYARUGURU

Nsengiyumva Ephrem

BDC Manager BDC Manager

7

GISAGARA

Mukarugwiza Gorethi

BDC Manager

(+250)7887679 73

[email protected]

Near the District Office

New Building

8

NYAMAGABE

Mukamisha Thabée

BDC Manager

(+250)7885967 03

[email protected]

200m from Nyamagabe Taxi Park (Nyamagabe Town)

Kiosk

5

HUYE

WESTERN PROVINCE PROVINCE NO BDC CONTACT PERSON JOB TITLE TELEPHONE EMAIL LOCATION

WESTERN PROVINCE

90

TYPE OF BUILDING

1

KARONGI

Uwihanganye Thomas

BDC Manager

0788555529

[email protected]

Near KIBUYE Hospital

2

NGORORERO

Maurice Habimfura

0788437272

[email protected]

Near the District Office

New Building

3

RUTSIRO

Esperance Uwayisenga

BDC Manager BDC Manager

Near the District Office

New Building

4

NYABIHU

Mugisha Chantal

BDC Manager

0782746384

[email protected] om

Mukamira City

5

RUBAVU

Uwitonze Victor

BDC Manager

0788897598

[email protected]

Mahoko Trade Center

6

NYAMASHEKE

Ntibaziyaremye Alexandre

0788733626

[email protected]

Kanjongo Sector

New Building

7

RUSIZI

Ufitinema Aurelie

BDC IT Technicia n BDC IT Technicia n

0786825582

ufitinemaureliecadeau@yah oo.fr

Nyakarenzo Sector

New Building

0783721435

fr

espeuwayi@yahoo.

KIGALI CITY AND EASTERN PROVINCE LOCATION AND ADRESS

New Building

CONTACT PERSON

JOB TITLE

TELEPHONE

EMAIL

LOCATION

EASTERN PROVINCE PROVINCE KIGALI -CITY

TYPE OF BUILDING TYPE OF BUILDING

New Building

2

KICUKIRO

UMUTESI Esperance

BDC Manager

0788847172

[email protected]

Near Gatenga Sector Office

New Building

3

KICUKIRO

UWINGABIRE Francine

BDC IT Technician

0788807708

[email protected]

Near Gatenga Sector Office

New Building

4

NYARUGENGE

NSHIMIYIMANA Pierre

BDC Manager

0788876066

[email protected]

Near Mageragere Sector

New Building

5 NO

NYAGATARE BDC

MASUMBUKO CONTACT PERSON Richard

BDC JOB TITLE Manager

0788857187 TELEPHONE

[email protected] EMAIL

Near ONATRACOM LOCATION Offices

6 1

GATSIBO GASABO

GASHUGI Ronald Adolphe MAGEZA

BDC IT Technician

0788667986 0788440541

[email protected] [email protected]

Gatsibo Trade Center Batsinda hill

Kiosk New Building

2 7

KICUKIRO KAYONZA

UMUTESI MUHAYIMANA Esperance Celestin

BDC Manager Manager

BDC

0788847172 0788797778

[email protected] [email protected]

New Building Kiosk

BDC IT

0788807708

[email protected]

Near Gatenga Sector KAYONYA Center Office (200m before KAYONZA Near Gatenga Sector Roundabout) Office Rwamagana Town (Near Police Station) Near Mageragere Sector

New Building

[email protected]/ [email protected]

95

BDC

New Building

40

05

NO

PROVINCE NO BDC CONTACT PERSON JOB TITLE TELEPHONE EMAIL LOCATION 0788440541 [email protected] Batsinda hill GASABO KIGALI -CITY 1 Adolphe MAGEZA

UWINGABIRE EASTERN PROVINCE Francine 8 RWAMAGANA 3

KICUKIRO

Kiosk TYPE OF BUILDING

Technician 0783234245 [email protected] IMANIRIHO Jean BDC IT Technician Pierre BDC 0788876066 [email protected] 4 NYARUGENGE NSHIMIYIMANA Manager Pierre PERSON JOB PROVINCE NO BDC CONTACT TITLE TELEPHONE EMAIL LOCATION Business 0783006098 [email protected] Rwamagana Town 9 RWAMAGANA KAYONGA BDC 5 NYAGATARE 0788857187 [email protected] Near ONATRACOM EASTERN MASUMBUKO Advisor/Mana m (Near Police Station) Emma Offices Manager PROVINCE ger Richard

New Building Kiosk New Building

TYPE OF BUILDING Kiosk Kiosk

6

GATSIBO

GASHUGI Ronald

BDC IT Technician

0788667986

[email protected]

Gatsibo Trade Center

Kiosk

7

KAYONZA

MUHAYIMANA Celestin

BDC Manager

0788797778

[email protected]

KAYONYA Center (200m before KAYONZA Roundabout)

Kiosk

8

RWAMAGANA

IMANIRIHO Jean Pierre

BDC IT Technician

0783234245

[email protected]

Rwamagana Town (Near Police Station)

Kiosk

9

RWAMAGANA

KAYONGA Emma

Business Advisor/Mana ger

0783006098

[email protected] m

Rwamagana Town (Near Police Station)

Kiosk

10

NGOMA

MUHIMPUNDU Clementine

BDC Manager

0788415889

[email protected] om

Near NGOMA District Office

Kiosk

11

KIREHE

MUTABARUKA Alexis

BDC Advisor/Ma nager

0783255380

[email protected]

Near the District Office

New Building

12

BUGESERA

NSANZABANDI Jean Damascene

BDC Manager

0783270336

[email protected]

Ruhuha Center

New Building

Kiosk Kiosk

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Small and Medium Enterprises

ACCESS TO BUSINESS DEVELOPMENT SERVICES

Brief Description: Business Development Centres (BDCs) is a private public partnership arrangement between RDB and PSF aimed at bringing business development services closer to SMEs. BDCs are located in each of the 30 districts and are run by professional consultants. The centers are run by AFICCO Ltd, Rwanda Telecenter Network, Goodneighbor Inc. Ltd and African Development Consultants for Southern, Northern, Western and Kigali/Eastern Province respectively. The services provided at these BDCs are similar across board. Services: ■■Business Registration ■■Entrepreneurial Development Services ■■Business Advice and Counseling ■■IT Services ■■Business Information Services ■■Export Development Services ■■Tourism Information ■■Tax Advisory Services ■■Environment Compliance and Cleaner Production Services Procedure for Accessing Services: ■■No specific procedure is in place. Any SME who is in need of the above service can approach any of the BDCs in any district near you.

RDB / Masaka Business Incubation Centre Masaka, Kicukiro P.O.Box 6239, Kigali Rwanda Tel: 0788614537 Email: [email protected] Website: www.rdb.rw Contact: Business Incubation DivisionTrade and Manufacturing Department

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Project Brief: Masaka Business Incubation Centre was set up as one of the strategies to reach the SME policy objective. MBIC has been established by RDB in order to provide several services to SMEs. Services: The Masaka Business Incubation Centre is established to offer to entrepreneurs: ■■Business incubation services; ■■Training and coaching services; ■■Facilitation to access finance, market, information and technology; ■■Technology demonstration for leather goods making, bamboo products, cheese making and fruits processing. Eligible sectors: ■■Leather goods making; ■■Bamboo products; ■■Cheese making; ■■Fruits processing.

RDB/Trade Division Trade and Manufacturing Department Rwanda Development Board, Gishushu, Nyarutarama Road, P.O. Box 6239, Kigali Rwanda Tel: 252 580804 Email: [email protected] Website: www.rdb.rw Contact: Senior Trade Development OfficerTrade Division Brief Description: The trade promotion/ exports promotion division is a unit under the trade and manufacturing department at RDB. It aims at enabling SMEs access export markets easily especially the regional markets.

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Small and Medium Enterprises (SME) BUSINESS GUIDE

Services: ■■Export advisory services ■■Production of export promotional materials ■■Support for SMEs to attend trade fairs mainly regional trade fairs ■■Export coaching program Cost of services: ■■Services are generally provided free of charge however, SMEs are expected to meet the cost of exhibitions in these regional markets which is usually dependant of how much space one acquires. Procedures for Accessing Services: ■■Certificate of Origin (issued by the customs department of Rwanda Revenue Authority-RRA) ■■Certificate of Standards (issued by Rwanda Bureau of Standards- RBS)

Private Sector Federation (PSF) Gikondo-MAGERWA P.O.Box 319, Kigali Rwanda Tel: 252 570650 Fax: 252 570650 Email: [email protected] Website: www.psf.org.rw Contact: Business Development Department Organizational Brief: The Private Sector Federation - Rwanda (PSF) is a professional organization, dedicated to promote and represent the interests of the Rwandan business community. It is an umbrella organization that groups 9 professional chambers. It was established in December 1999, replacing the former Rwanda Chamber of Commerce and Industry.

■■Business Development Service Centers (Capacity Building) ■■Advocacy ■■Market Access through Rwanda International Trade Fair; TVET Expo; Sector specific expo in the provinces Cost of Services: ■■Business Plan Competition: Entry is open to all Rwandan nationals free of charge ■■Capacity building: based on commission for trainers ■■Advocacy: free of charge ■■Exhibitions: charge is based on the size of stand booked Requirements for Accessing Services: Business Plan Competition ■■The promoter should possess technical knowledge ■■The business plan funding request should not exceed RWF 10,000,000. ■■Enterprises that are looking into new services or products for expansion are eligible. ■■Profit making enterprises. ■■Willingness to register business upon winning award. ■■The promoter should be Rwandan. Business Development Service Centers (Capacity Building) ■■Apply for the different business development services available ■■Contact your nearest BDS centre Market Access through Rwanda International Trade Fair; TVET Expo; Sector specific expo in the provinces ■■Register for specific expos as and when advertised ■■Have products and services ready for display

Services: ■■Business Plan Competition

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Rwanda Business Development Center C/o Regent Center for Entrepreneurship Tel: +250-782-589151 Email: [email protected] Website: www.bdcrwanda.com Organizational Brief: The Rwanda Business Development Center (BDC) is designed to incubate and nurture SME development. The BDC offers a portfolio of services, in addition to training, in order to substitute for the missing pieces of business infrastructure in the country. It is an initiative of the International Christian Chamber of Commerce (ICCC) and Regent University. Services: ■■Training—a variety of affordable training programs – basic entrepreneurship for start ups, mini-MBA for existing businesses, and specialized training for growth companies. ■■Mentoring, coaching, general management consulting—to nurture start-ups and existing companies that are repositioning / repurposing ■■Access/connection—network of connections to business services, such as legal, accounting, advertising & marketing, printing, IT, etc. and to government offices and gatekeepers, to the financial service industry (bankers, angel investors, private equity), and to strategic partners. ■■Peer mentoring—provide various models for informal and formal groups to help individuals help their peers. ■■Incubation—provide forum for brainstorming and refining business ideas; provide business services, such as space, accounting, payroll, marketing, for start-ups.

Procedures for Accessing the Service: ■■Applications are submitted on-line at www.bdcrwanda.com

Inkomoko Business Development African Union Road, Kicukiro-Kigali, Tel: +250-786-027613 Email: [email protected] Website: www.inkomoko.com Contact: Managing Director Organizational Brief: Inkomoko is a full service firm focused on developing small to mid-sized enterprises. Its services assist with creating new companies and growing them into effective businesses. Services: ■■Consulting on business model and implementation ■■Business Plan Development ■■Grant Proposal Writing ■■Connection to financing ■■Tax Consultation ■■Business Education Cost of Service: ■■It varies depending on the kind of service being accessed. Procedure for Access to Services: ■■Contact the General Manager through the website, email or telephone number listed.

Cost of the Service: ■■Training packages cost RWF 300,000

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Business Professionals Network Kacyiru-Opp. Gasabo District Headquarters P.O.Box 7083, Kigali Rwanda Tel: 250-786-130387 Email: [email protected] Website: www.bpn.ch Organizational Brief: BPN works in selected developing countries, which are viewed as having minimal barriers to success for small and mid-sized entrepreneurs. Vital to this success is a basic level of infrastructure (mobility, electricity), political stability, and a fundamental amount of democratic rights for the people (i.e. freedom of speech, opinion, and religion).

Services: ■■Training and Capacity Building ■■Capital Investment Loans ■■Business Plan Competition ■■Training in writing business plans ■■Provision of coaching and mentorship services Cost of Services: ■■Services are provided free of charge Procedure for Accessing Services: ■■Proposals are submitted to Junior Chamber International ■■Beneficiaries are selected on a competitive basis

Services: ■■Entrepreneurial Training ■■Project linkage to investors/financing Cost of Services: ■■Services are offered free of charge Procedure for Accessing the Service: ■■Application for project funding is written to BPN ■■Proposals are evaluated based on an equal opportunity yardstick

Junior Chamber International-Rwanda Remera, Gasabo, Tel: 0788-260317 Contact: National Secretariat Organizational Brief: Junior Chamber International Rwanda is an NGO established to foster entrepreneurship amongst the youth. It started its operations in Rwanda in 2005.

98

TECHNO SERVE 1st Floor, Murenzi Building Boulevard de l’Aeroport Remera-Kisimenti P.O. Box 7108 Kigali, Rwanda Tel: +250 252 580 414 Email: [email protected] Website: www.technoserve.org Contact: Country Director Organizational Brief: Techno Serve is a nonprofit organization that develops business solutions to poverty by linking people to information, capital and markets. It works with enterprising people in the developing world to build competitive farms, businesses and industries. Projects: Techno Serve has four major projects across a diverse array of sectors and in key areas such as rural youth-led enterprise development. Some of these projects, provided free of charge, include:

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Strengthening Rural Youth Development through Enterprise: The program delivers a comprehensive package of services including skills training, business development and mentoring to young people ages 18 to 30 in Kenya, Rwanda and Uganda. It is done in partnership with MasterCard Foundation. East Africa Dairy Development: Funded by the Bill & Melinda Gates Foundation, it aims to double the dairy incomes of 179,000 smallholder farm families in Kenya, Uganda and Rwanda. It facilitates improved dairy production, business practices and market access by developing chilling plant hubs. Transforming the Coffee Sector: Techno Serve business advisors work with farmers to improve growing and processing practices as well as build new wet mill businesses that produce some of Rwanda’s finest specialty coffee. Supporting Rural Women: Techno Serve offers business training for marginalized and socially excluded women in rural areas to supplement Women for Women International’s life skills support program. Requirement for Accessing the Service: Project proposals are submitted to Techno Serve.

TRADEMARK EAST AFRICA Rue Amajyambere, Kimihurura P.O. Box 539, Kigali Rwanda Tel: +250 280 306 084/5 Email: [email protected] Website: http://www.trademarkea.com Contact: General Manager Organizational Brief: TradeMark East Africa (TMEA) is a not for profit organization that gives technical and monetary support to the EAC Secretariat, national governments, private sector and civil society so they can enhance trade and markets in the region for the benefit of all East Africans. Areas of Support TMEA provides a durable platform for scaling-up Aid for Trade to East Africa in areas such as: • Trade policy reform • Trade-related infrastructure • Regional investment climate harmonization • Export development • Trade facilitation • Coping with the social and environmental adjustment costs of deeper integration and rapid export-led growth Cost of Services: Services are provided on a grant basis for all the East African Countries. However, the applicant has to meet the cost of proposal preparation. Requirement for Accessing the Service: Project proposals are submitted to TM East Africa for funding.

100

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SNV Rwanda- Netherlands Development Organization Boulevard de l’Umuganda 1 BP 1049 Kigali-Rwanda Tel: 252 599500 Mobile: 0788 306220 Email: [email protected] Website: www.snvworld.org Contact: Country Director Program Brief: SNV is a Dutch funded international development organization providing economic development advisory services that increase productivity, income and employment through value chain actors in agricultural, renewable energy, water and sanitation sectors. Services: ■■Linkages to financial services and business development services ■■Capacity development for improved governance ■■Supply chain development for improved efficiencies ■■Facilitation of sub sector platforms for better competitiveness Cost of Services: ■■Subsidized Procedure for Accessing the Services: ■■Inquiries for any of the above services can be made through the address above.

Dutch PSOM Juliana van Stolberglaan 148 P.O. Box 20105 2500 EC the Hague, the Netherlands Tel: (+31) 070 778 83 83 Fax: (+31) 070 335 29 62 Program Brief: The Program for Cooperation with Emerging Markets (PSOM) is a Dutch governmental program that aims at encouraging (Dutch) investments in emerging markets in Eastern Europe, Africa, Asia, the Middle East and Latin America. The program is financed by The Netherlands Ministry of Foreign Affairs (Development Cooperation) and The Netherlands Ministry of Economic Affairs. Services Offered: ■■PSOM stimulates pilot investments in the private sector and promotes long term trade relations as the driving force behind sustainable economic development in countries in transition and developing countries. ■■PSOM finances projects to ease some of the initial risks that companies will face when investing in these countries. Procedure for Accessing Services: The Applicant that submits the proposal must be a company registered in The Netherlands with exception of proposals from Cape Verde, Malawi, Mali, Mozambique, Rwanda, Uganda and Zambia. The following criteria must also be considered; ■■The Applicant must be a company registered in the commercial register at the Chamber of Commerce in The Netherlands with exception of projects in Cape Verde, Malawi, Mali, Mozambique, Rwanda, Uganda and Zambia. ■■Foundations and NGO’s are excluded from applying for PSOM. Nonprofit foundations and NGO’s can also not be the recipient in a project. Foundations and NGO’s may however be part of a consortium and

102

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Small and Medium Enterprises (SME) BUSINESS GUIDE

take part in a PSOM project as a Project Partner; ■■For projects financed by the Ministry of Economic Affairs, the applicant must have substantial economic activity in The Netherlands in terms of turnover and/or employment. Projects suggesting major or complete transfer of economic activities, for example by outsourcing outside the Netherlands, will not be taken into consideration.

Pro€Invest Avenue Herrmann-Debroux 52 P.O.Box 1160 Brussels-Belgium Tel: + 32 2 679 18 50 Fax: + 32 2 679 18 70 Email: [email protected] Contact: Pro€Invest Management Unit Manager: Program Brief: Pro€Invest is an EU-ACP (Africa, Caribbean and Pacific) partnership program developed and undertaken by the European Commission on behalf of the ACP countries. The objective is to promote investment and technology flows to enterprises operating within key sectors in the ACP States. Services: ■■Capacity building of private sector intermediaries; Pro€Invest supports and strengthens the work of professional organizations (namely chambers of commerce and industry, employers´ federations), investment promotion agencies, financial institutions and consultants´ associations whose activities contribute to the improvement of the environment for business and the development of companies. ■■Supporting the key sectors; the program facilitates the promotion of investments and the conclusion of north-south and south-south partnership agreements between enterprises in key economic sectors which reflect ACP regional priorities.

104

■■Individual company support; Pro€Invest provides co-financing for technical assistance to enterprise projects in the key sector identified. Cost of Services: Organizations may apply for assistance from Pro€Invest, on a cost-sharing basis, to develop and optimize their capacities. Programme activities are co-financed by the beneficiaries (one third) and Pro€Invest (two thirds) of total costs. Procedure for Accessing Services: Application for assistance is made by filling the request form for assistance to enterprises and submitted to the Pro€Invest Management Unit at the Center for Development of Enterprise.

Center for Development of Enterprise (CDE) Regional Office- Eastern Africa State House Avenue/ Liaison House 4th Floor P.O. Box 49568 Nairobi, Kenya. Tel: +254 20 2732285 Fax: +254 20 2732045 Email: [email protected] Program Brief: CDE is an ACP (African, Caribbean and Pacific)/ EU joint institution created in the framework of the Cotonou Agreement. Its objective is to ensure the development of professional ACP enterprises operating in the private sector. Services Available: CDE’s support to ACP enterprises and intermediary organizations are organized in the two-fold approach; ■■A structured (with 3-5 year term) approach via programs for groups of enterprises and intermediary organizations; Identify and support the activities of the most promising private sector companies of few sectors with highest potential for economic and social development in ACP countries (up to 2/3 of the budget).

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Small and Medium Enterprises (SME) BUSINESS GUIDE

■■An adhoc assistance to individual enterprises, intermediary organizations and service providers of the private sector. Budget Limit CDE covers up to 2/3 of the budget and the beneficiary SME covers the remaining 1/3. Procedure for Accessing Services: Application for assistance is made to CDE and the selection is done on the basis of comparative advantages; sustainable growth potentials; innovation and emulation perspectives; partnership potentials and socio-economic merits (internal economic linkages, cumulated value-added, employment and productivity improvement). Application and proposal guideline forms can be got from the website www.cde.int or contact the regional office.

106

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SECTION FIVE:

ACCESS TO OTHER BUSINESS SUPPORT SERVICES 108

109

SECTION FIVE:

Small and Medium Enterprises (SME) BUSINESS GUIDE

ACCESS TO OTHER BUSINESS SUPPORT SERVICES 5.0 INTRODUCTION Besides the access to finance and business development services, access to other business support services also plays a key role in the growth and development of SMEs. These business support services include: ■■Legal services and arbitration ■■Marketing and advertising ■■Auditing services ■■Clearing Forwarding and Transportation Service and ■■Insurance Services

5.1 LEGAL SERVICE AND ARBITRATION

Services: ■■Administer cases filed for Arbitration and mediation. This includes but not limited to: ■■Notification to the other party that a request of arbitration is filed with the Centre for her or him to submit an answer to the request. ■■Constitution of the Arbitral Tribunal and submission; ■■ Notify parties on final Award and assist them in its enforcement. ■■The Centre provides rooms for mediation& arbitration and secretariat facilities on request.

There are specialized legal service providers specifically set up to handle business and commercial related disputes, this is due to the unique nature of business disputes as well as the need to improve operating environment for businesses.

Cost of Services: ■■Filling fees of US$250 non-refundable ■■Arbitrator’s fees is determined by the amount in dispute

For any business related disputes the following service providers have the capacity to handle and facilitate the resolution or provide advice. It is however advisable that SMEs contact the bar association for a reputable and qualified advocate.

Procedure for Accessing the Services: ■■A notice of arbitration has to be filled with the registrar of KIAC ■■The names and address of the parties involved ■■A copy of the arbitration agreement ■■Copy of contract or legal document to which the dispute arises ■■Statement describing the nature and circumstance of the dispute

Kigali International Arbitration Centre Gikondo, PSF-Expo Ground P.O.Box 695, Kigali-Rwanda Tel: 252 583538 Fax: 252 583574 Email: [email protected] Website: www.kiac.org.rw Contact: Registrar Organizational Brief: KIAC was formed in February 2011 following an enactment of the law by parliament establishing it as an independent body. Arbitration and other friendly ways of commercial disputes resolution are emerging as preferred choice to

110

litigation in Courts, for foreign investors and growing companies in Rwanda. KIAC was therefore set up to fill this gap.

Commercial High Court of Rwanda Ministry of Justice, Po Box 160 Kigali - Rwanda Tel: +250 252 586398 - +250 252 586561 Fax: +250 252 586509 E-mail: [email protected] or [email protected] Website: www.minijust.gov.rw Contact: Registrar of Commercial Court

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Organizational Brief: The commercial high court of Rwanda was established in 2008 to handle commercial disputes arising from business transactions. The court has three branches in Kigali, Western and Southern Province.

Organizational Brief: LEX CHAMBERS is highly specialized in commercial, and civil law, contracts and litigations as well as criminal defense. The firm understands the key political, economical, regulatory and legal issues which surround doing business in Rwanda.

Services: ■■Commercial dispute resolution Procedures for Accessing the Services: ■■Any aggrieved party can file a case with the registrar

Kigali Bar Association P.O.Box: 3762, Kigali-Rwanda Tel: 0788 411782 Email: [email protected] Website: www.rwandabar.org Contact: Executive Secretary Brief Description: The Rwanda Bar Association was established in 1997 by Law No 3/97 of 19/03/1997. The law created the Bar Association, with its organs being the General Assembly, the Governing Council and the President of the Bar. The association was formed to regulate and oversee legal practice in the country.

Lex Chambers Plot No. 30 Rukiri 1- Remera P.O.Box 6562, Kigali-Rwanda, Tel: 0788 300 983 Email: [email protected] Website: www.isaacchambers.net Contact: Partner

112

Services: ■■Floatation and acquisition of companies; mergers and de-mergers; share holder arrangements; corporate finance and statutory corporate compliance and joint ventures ■■Liquidation and insolvency ■■Local and international trade transactions ■■Company secretarial work including director’s duties, board matters and filing of board resolutions ■■Debt recovery Cost of Services: ■■Initial consultation; US$50 per hour ■■Drafting of Board meeting minutes; US$200 ■■Written legal opinion; US$100 per page ■■Commercial cases; NEGOTIABLE depending on the nature of the case ■■Company incorporation and drafting memorandum and Articles of Association of a company/Shareholders agreement; US$1,000 Requirements for Accessing Service: ■■Fees are paid in advance at reception desk and official receipt is issued. ■■Client provides legal documents pertaining the case in contention

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Fountain Law Chambers 1st Floor- Ubumwe House, KBC-Kimihurura P.O.Box 6368, Kigali-Rwanda, Tel: 250 551 01721 Website: www.fountainlawchambers.com Contact: Principal Partner

Kigali Allied Advocates (KAA) Nyarugenge Kigali-Rwanda, Tel: 0788 305784; 0788 302432 Email: [email protected] Website: www.kaadvocates.com Contact: Managing Partner

Organizational Brief: Fountain Law Chambers is a firm established in 2006 as a dynamic and modern Rwandan law firm of legal consultants and advocates. The foundation of its practice is Business and corporate law, Employment law, Human rights, Environment and Land Law among others.

Organizational Brief: Kigali Allied Advocates (KAA) is a full service commercial and litigation law firm. It is one of the largest law firms in Rwanda. Is the only law firm in Rwanda that can provide seamless and integrated legal service in several commercial centers within the country.

Services:

Services:

■■Debt recovery ■■Liquidation and insolvency ■■Licensing ■■Local and international trade transactions Cost of Service: ■■Cost of service is negotiable Procedure for Accessing Service: ■■Simple walk into our offices with supporting documents regarding the dispute ■■Pay the agreed fees

■■Banking & Finance ■■Corporate and Commercial ■■Labor ■■Foreign Investment ■■Taxation ■■Litigation and Dispute Resolution ■■Intellectual Property ■■Business re-organization and Insolvency ■■Business Fraud Cost of Services: All services at Kigali Allied Advocates are priced differently depending on how much time will be taken on a particular case file. Requirements for Accessing Service: ■■Any one walks into our offices and presents the lawyers with the case in dispute.

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Besides the above firms, other law firms recognized by the Kigali Bar Association include the following:

5.2 MARKETING AND ADVERTISING SERVICES: There are several companies providing marketing and advertising services to SMEs in Rwanda. These companies provide services ranging from marketing, advertising and branding. Below are selected lists of companies:

Table 5: List and Contact of Law Firms

No.

Name of Law Firm

Contact Person

Telephone Number

Email Address

1.

Zenith Law Firm

Jain GokHool

+25078 8517093

[email protected]

2.

Mutabazi Abayo Law Firm

0788 300535

[email protected]

3.

Gasarabwe and Associates

Mutabazi Abayo Jean Claude Marc Nsengimana

+250788503395

[email protected]

4.

Kamanzi, Ntaganira and Associates

Kamanzi Desire

0788309090

[email protected]

5.

R &Partners

Norbert Kagoro

+250788846900

[email protected]

6.

Veritas Juris Chamber

Muhikira Jean Claude

0788537164

[email protected]

7.

Trust Law Chamber

Mugisha Richard

0788537164

[email protected]

8.

Mucyo & Associates

Mucyo Donatien

0788524528

[email protected]

9.

Rukangira Law Chambers

Rukangira Emmanuel

0788300280

[email protected]

10.

Gatera& Associates

Gatera Gashabana

[email protected]

11.

Equity Juris Chambers

Mitali Calvin

0788303744 or 0728300044 0788300981

12.

K Solutions Partners

Cyaga N. Eric

0788300973

calvin.mitali@ equityjurischambers.com [email protected]

Brand Revolution Ltd Plot 5292- African Union Road KN 48, P.O.Box 1891, Kigali, Rwanda. Tel: 0785-315525 or 0783-046066 Email: [email protected] Website: www.brandrevolution.net Contact: Managing Director Organizational Brief: Brand Revolution Ltd is a full service marketing communication agency offering customized solutions to its clients in Rwanda. The agency was established in May 2010 and is one of the leading industry players. Services:

Source: Kigali Bar Association

■■Development and implementation of marketing strategies ■■Product education and promotion ■■Production of marketing materials ■■Design and development of websites Cost of Services: ■■Not fixed. Cost is based on staff time spent on the project and the availability of data in-house. Procedures for Accessing the Service: ■■Contact us on email or telephone with detailed terms of reference for your needs

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Creative Communications Rwanda Kimihurura- Rugando, P.O.Box 7196, Kigali- Rwanda. Tel/Fax :+( 250) 580431/2 Email: [email protected] Website: www.cc-creativecomms.com Contact: Managing Director Brief Description: Creative Communications is a full service integrated advertising agency that was founded in 2002. It was the first advertising and marketing agency in Rwanda with a specialty in conceptualization, design and development of communications strategies.

Brief Description: Great Lakes Communications is a Kigali based marketing, communications and PR consultancy. It delivers business focused, effective solutions in design and print, public relations, media, online marketing, market research and the first media monitoring technologies in Rwanda. Services: ■■Market research ■■Online marketing ■■Electronic media productions ■■Design and print Cost of services: ■■Cost is dependent on the scope of work

Services: ■■Print media services ■■Electronic media services ■■Television commercials ■■Animations ■■Radio commercials Cost of Service: ■■Costs vary depending on the scope of work Procedure for Accessing Services: ■■Contact through email with detailed terms of reference for the service being sought Great Lakes Communication and Media Centre Rue de la Ministerie, Kimihurura, P.O.Box 32117, Kigali, Rwanda. Tel: +255 (0) 255 103018 Email: [email protected] Website: www.glcmc.com Contact: Managing Director

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Procedures for Accessing Services: ■■Send request for proposal documents with detailed TORs to GLCMC.

Rwanda Dispatch Kicukiro, Sonatubes P.O. Box 4294, Kigali Rwanda Tel: 0788 306 472/ 0788 304 066 Email: [email protected] Website: www.rwandadispatch.rw Contact: Managing Director Organizational Brief: The Rwanda Dispatch is a renowned news magazine in Rwanda that is circulated weekly. The magazine covers all sectors such as politics, Agriculture, Finance, Education, Transport etc Services: ■■Advertisements ■■News agency activities

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Cost of Services: ■■Full page issue costs 960,000 Rwandan Francs, half a page 400,000 Francs and quarter of a page at 250,000 Rwandan Francs Requirements for Accessing Services: ■■Issue purchase order for space ■■Ready art-works

Creative Eye Rwanda PC 9773, Umuganda Boulevard Gishushu, Remera II, Gasabo P.O.Box 7499, Kigali-Rwanda Tel: +250 728 450469 Email: [email protected] Website: www.creative-eye-africa.com Contact: Country Manager Organizational Brief: Creative Eye is a regional communications agency with offices in Tanzania, Kenya, Ghana and Rwanda. Services: ■■Above-the-line advertising ■■Below-the-line advertising ■■Media services

IKAZE Agency Ltd Avenue de l’armée, P.O.Box 5718, Kigali-Rwanda, Tel: 0784 211450 Email: [email protected] Website: www.ikazeagency.com Contact: Marketing Manager Organizational Brief: Ikaze Agency Ltd was created purposefully to help investors exploit investment opportunities offered in Rwanda and for tourists to enjoy the beauty of the country of a thousand hills especially its diverse and rich cultural heritage. Services: ■■Investor facilitation ■■Tourism promotion ■■Professional training facilitations; and ■■Event management Requirements for Accessing Service: ■■Investor facilitation; Fill in the trainings facilitator form ■■Fill in the tourism promotion form ■■Events management form has to be filled in ■■Fill in the Trainings facilitator form

Cost of Services: ■■Cost of services are dependent on the scope of work Procedure for Accessing Services: ■■Request for service is sent to the agency with the detailed terms of reference for the service.

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5.3 AUDITING AND ACCOUNTING SERVICES Audited books of accounts have become a major requirement for firms to access business development and financial services from the various financial institutions. This helps in tracking financial performance of the organization or business. There are very many auditing firms providing auditing and accounting services but for advice and good counsel, it is advisable that the SME engages a firm that is a member of the Institute of Certified Public Accountants of Rwanda (ICPAR). Some of these firms include;

Pricewaterhouse Coopers Rwanda Ltd 5th Floor, Blue Star House, Boulevard de l’Umuganda, Kacyiru, P.O.Box 1495 Kigali- Rwanda Tel: 252 588203/4/5/6 Fax: 252 588201/2 Email: [email protected] Website: www.pwc.com Contact: Managing Partner Services: ■■Audit services ■■Consulting ■■Family business services ■■Tax advisory services Procedure for Accessing Services: ■■Contact PWC for details on how to access the service

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KPS Associates 3rd Floor Chadel Building Opp. Belgian School, Mille Collines Avenue P.O.Box 5292 Kigali-Rwanda Tel: 252 570390/ 572393 Fax: 252 571338 Email: [email protected] Website: www.kps.co.rw Contact: Managing Partner Services: ■■Auditing ■■Tax consultancy Procedures for Accessing the Services: ■■Contact KPS offices

GPO Partners Rwanda Aurore Building, Boulevard de l’Umuganda, Tel: 252 587933 Fax: 252 587934 Email: [email protected] Website: www.gpopartners.com Contact: Senior Partner Organizational Brief: GPO Partners is a Global Professional Organization delivering world-class audit, accounting, and tax and consulting services to international companies, as well as national enterprises and public institutions. Services: ■■Audit ■■Accounting ■■Tax

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■■Consulting Procedure for Accessing Service: ■■Contact GPO Partners for any of the above services

Ernst and Young Banque de Kigali Building Avenue de la Paix P.O. Box 3638, Kigali - Rwanda Phone: +250 788 309977 Fax: +250 571 059 Website: www.ey.com/rw Contact: Managing Partner Organizational Brief: Ernst and Young is an accountancy and audit consultancy firm with a global footprint. Services: ■■Advisory ■■Assurance ■■Tax ■■Transactions Advisory Procedures for Accessing Services: ■■Contact E&Y for procedure on how to access the services

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KPMG Rwanda 5th Floor, Grand Pension Plaza, Avenue de la Paix, P.O. Box 6755, Kigali – Rwanda Tel: 252 579790 /0788 175700 Fax: 252 579 792 Email: [email protected] Website: www.kpmg.com Contact: Customer Service Organizational Brief: KPMG was registered in Rwanda in 1998 and worked with the Government to implement the privatization program and modernize Revenue Administration to provide the resources required for national reconstruction and poverty reduction. Services: ■■Audit ■■Tax ■■Advisory Cost of Services: ■■Service cost is not fixed Requirements for Accessing Service: ■■Clients can walk-in at any office branch of KPMG

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RUMA Certified Public Accountants Avenue de la Paix, Nyarugenge P.O.BOX Kigali, Rwanda. Tel: 252 573781 or 0788 301220 Website: www.rumarwanda.com Contact: Managing Partner Organizational Brief: RUMA CPA provides audit services to various clients ranging from Public Institutions, International Agencies, Banking and Financial Sector, Donor Funded Projects, Manufacturing Industries, Construction Industries, Service Industries, Technology, Media & Communication and Pharmaceutical. Services: ■■Auditing Services ■■Accounting Services ■■Financial Advisory Services ■■Assurance Services ■■Consultancy Services ■■Business Management ■■Tax Consultancy Cost of Services: ■■Cost of service is not fixed. Its dependent on the scope of work. Requirements for Accessing Service: ■■Just walk into the RUMA CPA offices or contact us on email or telephone

Nambiar Associates Rwanda Foam House, Muhima, Nyabugogo Road P.O.Box 4715, Kigali, Rwanda Tel: 0788 307654 Fax: 252 504228 Email: [email protected] Website: www.nambiarassociates.com Contact: Managing Partner Organizational Brief: Nambiar Associates was established with a vision to provide accurate and concise financial information to management. The firm also aims at providing management with financial and analytical data to facilitate easy and correct decision-making. Services: ■■Feasibility, Project Study and Market Research ■■Guidance for Professional Book Keeping ■■Complete Accounting function ■■Internal Audit ■■Cost Analysis and Materials Management ■■Budgets and Forecast ■■Tax Consultancy ■■Financial Consultancy Cost of Services: ■■Service costs at Nambiar Associates are determined by the type of service requested Requirements for Accessing Service: ■■Walk in to our chambers

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GCG and Associates Rwanda 3rd floor, Blue House, Kisementi Tel: 0784 379 491 or 0722 949 493 Email: [email protected] Website: www.gcgandassociates.com Contact: Managing Director Organizational Brief: GCG and Associates is an audit and management consultancy firm registered in Rwanda and serving the east and central African region. The team is highly qualified with the ability to conduct assignments in both international and local languages across the region and abroad including; French, English, Kiswahili and a multiplicity of local languages. Services: ■■Capacity building ■■Fund Mobilization (loans and Equity Grants) ■■Business and Assets management ■■Audit and Assurance ■■Consulting ■■Tax and legal consultancy Cost of Services: ■■Service costs are determined by the type of service requested Requirements for Accessing Service: ■■Contact us through email or telephone or physically drop by our offices and you will be served.

Like it had been earlier noted, there are several auditing firms that are established in the country to offer auditing and accounting services. However, it is advisable that an agency contacts ICPAR for advice on which firm to engage. Besides the above, other auditing firms are as listed in the table below: Table 6: List of Auditing Firms NO.

Name of Firm

Contact

Phone

1. 2.

Jain GokHool Abdulwahid Mohamed

+25078 8517093 [email protected] +254722413351 [email protected]

3. 4. 5.

ABC Consultants Sarl Abdulwahid Mohamed Haji Aboo Cabinet Augeco DP Auditors & Consultants Garry White Knight

Email

Marc Nsengimana Francois X Gasore Norbert Kagoro

6.

MN & Associates CPA

Michael Maina

+250788503395 [email protected] +25078 8307648 [email protected] +250788846900 nkagoro@garrywhiteknight. com +250788853063 [email protected]

7. 8. 9.

SEB Sarl SECAF Sarl TCHEM Associates

Claude Sebushumba Raphael Sikubwabo Emmanuel Tchoukou

+250788304271 [email protected] +250788303357 [email protected] +250788304599 [email protected]

10. 11. 12.

TM Auditors Sarl PKF M.M CPA

13.

PEWMU Associates

Telesphore Nshizirungu Boniface Mutua Christopher Murithi Kaburu Charles Muchiri

+25078 8306098 [email protected] +250788713619 [email protected] +250783629879 christopherkaburu@yahoo. com +250785835735 [email protected]

14.

KSK Associates

Stephen Kasenge

+256772611000 [email protected]

15.

PPM

+250788306005 [email protected]

16.

ZiM Partners

Sudadi Kayitani Senganda Daniel Zitunga

17.

MERALIs CPA Rwanda

Madhav Sudhir Bhandari +250788407373 [email protected]

18.

Gurmit Singh Santokh

19.

Green Horse Financial Consulting FJ Consultants Ltd

20.

Johnson & Johnson CPAs

21.

+250788302895 [email protected]

22.

Financial Advisory Services &Training Ltd SG Mehtha & Associates Ltd

Ulrich Christopher Johnson Lindsay Hodgson Sandeep G. Mehta

+250786160444 [email protected]

23.

RSK Associates

+250782173513 [email protected]

24.

Goal Advisory Africa Ltd

Solomon Kalibwanyi Musoke Stephen Gathanga Kamau

Nabawanuka Julian

+250788312311 [email protected] +250788300428 gurmit.santokh@ greenhorsegroup.com +250783098905 [email protected] +250788305554 [email protected]

+250784985528 [email protected]

Source: Institute of Certified Public Accountants of Rwanda (ICPAR)

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5.4 CLEARING, FORWARDING AND TRANSPORTATION SERVICE Clearing and forwarding agencies and transportation service providers have become a key aspect of regional and international business today. Several agencies have been licensed by the Rwanda Revenue Authority to provide these services to the country. The specific documents needed to facilitate the smooth clearing of goods and services include the following: ■■Commercial Invoice ■■Bill of lading/Certificate of origin ■■Packing List The following are some of the agencies providing clearing, forwarding and transportation services:

Rwanda Freight Forwarders Association (ADR) Gikondo-Kicukiro Road, 1st Floor, Le Prestige Building P.O.Box 6359, Kigali - Rwanda Phone: +250 788 312 992 E-mail: [email protected] Website: www.adrwanda.com Contact: Front desk. Organizational Brief: ADR is a non-profit organization established in 1998 to represent all the clearing and forwarding firms in Rwanda. The Association has a membership base of 108 clearing and forwarding companies. Role: ■■The overall aim of ADR is to encourage best practices in the industry and promote competitiveness of companies to provide unrivalled quality services in the region and beyond. ■■Serve as a framework for permanent dialogue between its members and third parties, including public authorities

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Cost of Services: ■■Services are provided free of charge through member selection and voting powers by the General Assembly. Requirements for Accessing Service: ■■Beneficiary should be a member of the association

East African Cargo Rwanda Nyarugenge P.O.Box 131, Kigali-Rwanda, Tel: 0788 538767 Website: www. www.brucargoairfreight.be/africa/rwanda Contact: HR and Administration Office Organizational Brief: East African Cargo Rwanda has been a subsidiary of Brucargo Air Freight Belgique since 1987. East African Cargo Rwanda is a market leader that offers complete import/export air freight services. The company handles all Brussels Airlines Cargo flights and offers a wide range of services. Services: ■■Weekly pick-up and delivery of merchandise by truck in the interior of Rwanda and East Congo (Bukavu and Goma) ■■Customs agents: all import and export formalities ■■Packaging and stocking ■■Air express courier Africa: Certified agent of UPS Worldwide Express (express courier) ■■Exclusive agent of Brussels Airlines Cargo (GSSA - General Sales Service Agent): management of freight for all destinations served by Brussels Airlines throughout the world. Cost of Services: ■■Services are priced according to the amounts of goods cleared and also their value added.

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Requirements for Accessing Service: ■■Present supporting documents for the goods as required for export and import goods.

Exrol Level 2, Delta House P.O.Box 2987, Kigali-Rwanda, Tel: 252 255107 Fax: 252 255322 Website: www.excrol.com Contact: HR and Administration Office Organizational Brief: Exrol provides a comprehensive in the continent, and worldwide air, ocean and multi-model forwarding services to meet the different transit-times, costs and service requirements as demanded. Airfreight shipments can be expedited to worldwide destinations either directly or as part of our regular consolidations. Services: ■■Packaging and stocking ■■Clearing and forwarding ■■Cargo deliveries Cost of Services: ■■Cost of service is dependent on the amount of goods to be cleared and their destination. Requirements for Accessing Service: ■■Proof of ownership of property ■■Post border clearance forms/documentation ■■Certificate of origin ■■Quality certification (if required)

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Freight Logistics Services Ltd Gikondo-Magerwa P.O.Box 4252, Kigali-Rwanda, Tel: 252 570339 Fax: 570339 Website: www.freightlogisticservices.com Contact: Customer service desk Organizational Brief: Freight Logistics Services Ltd is a Clearing and Forwarding Company with its head office in Kigali-Rwanda and four other branches around the country in; Rusumo, Kagitumba, Gatuna and at Kigali international Airport in Kanombe. The firm was incorporated in 2005 and licensed to transact the business of Clearing, Forwarding and Transportation of all manner of merchandise and goods by sea, land and Air to and from Rwanda to any part of the world. Services: ■■Global Air services ■■Sea Freight: ■■Cross-Border and Inland freight ■■Logistics management: ■■Customs Brokerage: Requirements for Accessing Service: ■■Proof of ownership of property ■■Post-border Clearance forms/documentation ■■Bill of lading ■■Commercial invoice ■■Packing List

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Swift Freight 10, Avenue de la Paix P.O.Box 4252, Kigali-Rwanda, Tel: 252 504207 Fax: 252 510483 Website: www.swiftfreight.com Contact: Front Desk Organizational Brief: Swift Freight, headquartered in Dubai, United Arab Emirates, is a leader in global transportation and logistics. Swift Freight is well known for providing a comprehensive range of transport solutions across Africa, UAE, India and the Far East. Swift Freight provides innovative multi-modal solutions such as Sea Air Modal into Africa and Sure lines.

DHL 2nd Floor, Suite 11, Blessing House Muhima Avenue P.O.Box, Kigali-Rwanda, Tel: 252 503783, 0788 308586 Website: www.dhl.com Contact: Front desk Organizational Brief: DHL commits its expertise in international express, air and ocean freight, road and rail transportation, contract logistics and international mail services to its customers. A global network composed of more than 220 countries and territories and about 275,000 employees’ worldwide, DHL offers customers superior service quality and local knowledge to satisfy their supply chain requirements.

Services: ■■Air freight services ■■Sea freight services ■■Swift perishable logistics ■■Multi-model transportation Requirements for Accessing Service: ■■Presentation of tax clearance certificates ■■Duty payment supporting documents ■■Insurance payment proof

Services: ■■Ware housing and distribution ■■Freight transportation ■■Customs and security insurance ■■Supply chain solutions Cost of Services: ■■Service cost entirely depends on the type of service, destinations, distances, quantity and weight. Requirements for Accessing Service: ■■Fill in forms including the service needed at any DHL Branch worldwide

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135

136 MUKANKUSI K.Pierrette BAMURANGE Odette UWAMAHORO Cissy RUTUNGISHA Trésor

28 EASTERN HILLS LTD 29 EDEN CLEARING COMPANY

MWUMVANEZA Bonaventure NTAGWABIRA Antoine KAREMERA Jacques BASALISA Scovia GATARI Emmanuel MURENZI Serge KAMANZI Symphorien HITIMANA Innocent NIYONGABO Richard MUHIMANA Innocent MUNYANEZA Gervais NIYONSABA Innocent MUGISHA Suwed ARADUKUNDA Déo MANIRAMBONA Callixte Emmanuel KAGAME Roger NDAHIMANA Théogène KAYIGIRE Jean Paul MUKAMARAKIZA Alida NIYONZIMA J.Claude NKOMEZA Alain

CONTACT PERSON UMUHOZA Georgine MUTONI Emily SHYAKA Vianney

CLEARING AGENCY 1 1 TO 1 BUSINESS PARTNERSHIP 2 ADONAI AGENCY SARL 3 ADONIA CLEARING AGENCY& FORWARDING 4 AFRICAN BUSINESS SERVICES 5 AFRICA FREIGHT SERVICES 6 AFRI-DITEC 7 AIMS LOGISTICS 8 AMEKI COLOR 9 ATACO FREIGHT SERVICES 10 AIR TRANSIT INTERNATIONAL 11 A‐Z CLEARING & FORWARDING AGENCY 12 BN METRO LTD 13 BNM COMPASS SARL 14 BOBOR LTD 15 BONFIDE C&F RWANDA 16 CLICK CLEARING & FORWARDING AGENTS 17 CLOFFIK 18 CODETRACO 19 COIMEX 20 COMMON CUSTOMS SERVICES 21 CONEX LOGISTICS 22 DACA 23 DALSO INVESTMENTS 24 DATUS LIMITED 25 DEDOUANEMENT FREIGHT INTERNATIONAL(DFI) 26 DOMUS 27 DOVE FREIGHT

36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61

30 31 32 33 34 35

ELEGANCE CLEARING AGENCY EXPRESS LINE SHIPPING FREIGHT LOGISTICS SERVICES G & M CARGO SERVICES GILL TRADING GREAT LAKES CLEARING AND FORWARDING (GLACA) GLOBAL FREIGH FORWAEDING GOOD FREIGHT LIMITED GOOD FUTURE BUSINESS GOOD PARTNER GORILLA 1000 HOPE FREIGHT SERVICES HORIZON CLEARING & GENERAL SERVICES INIRMAT CLEARING LTD INTERCONNECT INTERNATIONAL MARITIME AGENCY INTRA CARGO INTRASPEED JAGUAR CARRIERS JUNIOR (JACAJU) JASMINE INTERNATIONAL JEM CLEARING AGENCY JETCOM SARL KENFREIGHT KIGALI GENERAL TRADING KIPHARMA KITS KIVU CLEARING AGENCY LE CORRECT LIFE LINE FREIGHT LIGHT CLEARING AGENCY LOGIONE WORLDWIDE MADE SARL

KAYISIRE NYANGEZI Fiacre GASANA Joseph NIYONSENGA Berthilde MUKANGWIJE Nelly RWUMBUGUZA Fred UNKUNDIYE Léon BUCYANA Emmy Murekezi INGABIRE Francine RWIGEMERA Boniface MUKESHIMANA J.de Dieu NYEBAZA Josephine BAGIRE R. Alfred UWANYIRIGIRA Béata KARANGWA Fabrice GASANA May UWIMANA André Léon RURANGWA Charles MURIGO John Bosco GIANCARLO Davite MUJYABWAMI J.Pierre KAYIJUKA Innocent NZABONIMANA Etienne TUYISHIME Alfred BENIMANA Ancille MATTHIEU Costa RUTAYISIRE Médard

NSHUTINZIZA Jean d'Amour RUKABUZA Novati UMURUNGI Florence NSENGIYUMVA George UMUTONI Julliet KABERA J.Damascène

LIST OF CLEARING AGENCIES IN RWANDA



LIST OF CLEARING AGENCIES IN RWANDA

0788500354 0788678777 0788587001 0788400464 0788307556 0788651145 0788573321 0788777780 0785801513 0788526840 0788644439 0788427360 0788501456 0788753545 0788305860/0788564042 0788779553 0788303348 0788355941 0788300660 0788748873 0788810253 0788511726 0788762302 0788477602 0784501007 0788512291

0782515794 0788507871 0788536901 0785052516 0788305577 0788457660

0788305362 0788616064

0788852428, 0788504206 0788306224/0728306224

0788505648 0788306637 0785291324 0782503653 0788594998 0788490123 0788302382 0788513372 0788513373 0728834113 0788513825 0788416266 0788778842 0788539575 0788521054 0788300152 0788480630 0788504161 0788504878 0788501601 0788530279 0788658650

TELEPHONE 0788629595 or 0788307755 0788302147 0788491251

ACCESS TO OTHER BUSINESS SUPPORT SERVICES

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138 MAGERWA MEG CLEARING MEREZ MONGOLIA CLEARING AGENCY MULTILINES INTERNATIONAL NET FREIGHT SERVICES SARL NET RIGHT SERVICES NEW BUSINESS CLEARING NEW KIGALI BUSINESS SERVICES NEW PREFERENCE NEW SOLUTION COMPANY NEW STAR NEW VISION AGENCY OMNIBUS P&M AGENTS PAM PANACHE PANAFRICA EXPRESS LTD PIONEER INTERNATIONAL PRECISION QUALITY SERVICES QUICK REAL TRANSIT, TRANSPORT RELIANCE ROYALLINKS RWANDA BUSINESS & CLEARING AGENCY RWANDAMOTOR SAFE SERVICES SAVANA CLEARING AGENCY SDT SDV TRANSAMI SHAMMAR LINKS SMART CLEARING AGENCY S.A.R.L

95 SPEDAG INTERFREIGHT RWANDA LTD 96 SOCIETE INTERNATIONALE DE FRET ET AGENCE EN DOUANE (SIFAD) 97 SONODE 98 STANDARD INTERNATIONAL 99 STANDING WITH YOU 100 STIPPAG RWANDA 101 SULFO RWANDA 102 THE HAVERSTERS 103 TOLIRWA 104 TOP FREIGHT 105 TOP MOVERS 106 TRADECO FREIGHT 107 TRADEFRET 108 TRADER 109 TRADERWA 110 TRANSNET 111 TRANSOCEAN 112 TRINITY CLEARING 113 TRUST CLEARING COMPANY 114 TRY TRUSTERS AGENCY 115 UDPRO 116 UMOJA CLEARING AGENCY 117 UNITED FOR PROGRESS 118 VICTORY CLEARING AGENCY 119 WESTERN CRUISE AGENCY 120 ZBR 121 ZENITH AGENCY

UWERA Françoise KAGAMBAGE R.Augustin NGUNGA Médard SANGWA Danny NATARAJAN A.S NZABONANTUMA Olivier JAYAJITH M.O MUKANKUBANA Susan MUTUYIMANA Claudine BIGIRIMANA Céline MUKASHEMA Veronise NYIRINKINDI César MBAYIHA M.Germaine RUGEMA Ramadhan BAHIVI R.Jean de Dieu BAZIKOSHE Betty RWAGASORE J.Claude UMUZIGA Gisèle MUTAGAWA Fidèle NDENGA Amon Monique UMURERWA M.Chantal MUKESHIMANA Georgette KATAMARA Hamidu MUKAGASANA Laurence

BASTIAN SCHMITZ HAKIZIMANA Ally

0788301195 0788638558

0788553357 0788566801 0788306097 0788506483 0788424383 0788322246 0783789880 0788543430 0788531447 0750311411 0788617107 0788647086 0788646476 0788541642 0788452070 0788303561 0788600324 0788309429 0788426676 0788354720 0788745305 0788416166 0788305045 0788307248/0788304278 0788303664 0788501220 0788301886 0788774816 0788585440 0788462665 0788300616 0788510328 0788497219

0788736685 0788505522 0788595780 0788471009 0788433748 0788651059 0788493490 0788572333 0788676411 0788532867 0788528847 0788303477 0788305988 0788300915 0788862687 0788876778 0788434380 0788467027 0788504282 0788824011 0788598251 0788414090 0788481910 0788513485 0788594054 Source: Rwanda Revenue Authority

SONGA Jean Bosco MWESIGE Eric MUNYENGABE Pacifique NSHIMYEYO Crispin RURANGWA UWERA Jacky NYIRANEZA NINSIMA Eppy UBAYEHO Jean MBONIGABA Damien RUTAGENGWA Emmanuel NYIRIGIRA Andrew MURAYIRE M.Dieudonné UWIZEYE Jean d'Amour RUTAMBUKA Nelson NSENGIYUMVA Callixte NYINAWISUGI Alice JAN DELBAERE BIZIMANA Kalisa MALARUNGU Rose MUGAMBAGE Mundaneh MAGAJU Aimable NDAHAYO Jean de Dieu BAHIZI Moubarack MUKARUGWIZA Médiatrice JAYARAM Cheroor MBABAZI Grace MULINDA MUVUNANGOMA Abdul LEFEBURE Hugues NGOGA Eugène GIRAMATA Olive MUKURIRA Sandra KEMBUKUSWA Rodolphe BATAMURIZA Sharon INDEKWE B. Patrick

LIST OF CLEARING AGENCIES IN RWANDA

62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94

LIST OF CLEARING AGENCIES IN RWANDA ACCESS TO OTHER BUSINESS SUPPORT SERVICES

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5.5 INSURANCE SERVICES Insurance has become a very key aspect of business today. It is necessary to insure a business against unforeseen circumstances that can alter the smooth operation of the business. Some of the most commonly insured risks include fire, theft, burglary, accidents and other natural disasters.

bond) ■■Workmen’s compensation ■■Travel insurance Cost of Services: ■■Cost of service is dependent on the level of risk involved and the cost of consignment.

Some of the companies providing these services include: SORAS GROUP LTD Boulevard de la Revolution, P.O.Box 924, Kigali Rwanda Tel: 252 593300, 252 573712 Email: [email protected] Website: www.soras.co.rw Contact: Customer Service Organizational Brief: SORAS Group Ltd was created in 1984, and has been split into three different companies, members of one group: Soras Group LTD: Investment and Service Company; SORAS - General Business LTD and SORAS - Life Business LTD. Services: ■■Motor insurance ■■Fire and allied perils insurance ■■Consequential loss- Business interruption, ■■Contractor all risks ■■Industrial all risks insurance ■■Marine insurance ■■Goods in transit ■■Burglary and theft, ■■Money in safe and Cash in transit, ■■Fidelity guarantee (Fraud and Dishonesty of Employees), ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance

140

Requirement for Accessing the Service: Each service has different requirements but some of the general requirements include: ■■Passport size photos and identity cards / passport of the persons being insured ■■Packing list and Purchase Invoice ■■Contract (in case of performance bonds) ■■Employees employment contract (in case of health insurance) SONARWA Boulevard de la Revolution P.O.Box 2417 Kigali Rwanda Tel: +250 592160 Website: www.sonarwa.co.rw Contact: Customer Service Organizational Brief: SONARWA was established in 1975 under the management of a U.K. based company- J.H. Minet. It concluded an equity strategic partnership with the Nigeria’s leading insurance company, Industrial and General Insurance Plc, (IGI), which acquired 35% stake in SONARWA effective April 2008. The company is ISO 9001-2008 certified. Services: ■■Motor insurance, ■■Fire and allied perils insurance,

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Small and Medium Enterprises

ACCESS TO OTHER BUSINESS SUPPORT SERVICES

■■Industrial all risks insurance, ■■Goods in transit ■■Burglary and theft, ■■Money in safe and Cash in transit, ■■Fidelity guarantee (Fraud and Dishonesty of Employees), ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance bond) ■■Personal Accident ■■Group personal accident ■■Workmen’s compensation ■■Travel insurance Cost of Services: Cost of service is dependent of the value of property and level of risk involved Requirement for Accessing the Service: Each of the above services has its unique requirements. It is advisable to contact the customer service officers for assistance and guidance through the application process. CORAR Centenary House, Nyarugenge P.O. Box, 3869 Kigali Rwanda Phone: 252 502210 Fax: 252 575596 Email: [email protected] Contact: General Manager Organizational Brief: CORAR is one of the companies providing general risk insurance services in Rwanda. The company has its operations in Kigali and serves clients across the country.

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Services: ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance bond) ■■Motor insurance, ■■Fire and allied perils insurance, ■■Industrial all risks insurance, ■■Goods in transit ■■Burglary and theft, ■■Workmen’s compensation Cost of Services: Cost of service is dependent on the degree of risk of the business Requirement for Accessing the Service: Each of the above services has its unique requirements. It is advisable to contact the customer service officers for assistance and guidance through the application process. PHOENIX Avenue de la Revolution Opposite FINA Bank P.O.Box 82, Kigali Rwanda Tel: 252 570331 Email: [email protected] Website: www.phoenixassurancegroup.com Contact: General Manager Organizational Brief: Phoenix is the only company in the market offering all products including Aviation and Marine insurance. It offers all type of non-life conventional products. The company was established in 2006 and is a subsidiary of the Phoenix Group of Companies.

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ACCESS TO OTHER BUSINESS SUPPORT SERVICES

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Services: ■■Motor insurance, ■■Fire and allied perils insurance, ■■Consequential loss- Business interruption, ■■Contractor all risks ■■Industrial all risks insurance, ■■Computer and Electronic Equipment, ■■Machinery Breakdown, ■■Marine insurance ■■Goods in transit ■■Burglary and theft, ■■Money in safe and Cash in transit, ■■Fidelity guarantee (Fraud and Dishonesty of Employees), ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance bond) ■■Personal Accident ■■Group personal accident ■■Workmen’s compensation ■■Travel insurance ■■Public liability ■■Professional Liability, ■■Trade line etc. Cost of Service Cost of services is dependent on the level of risk and the value of the item being insured. The company also provides tailor made products that are crafted to the needs of the client. Requirements for Accessing the Service: The various services each have different requirements. It is advisable to contact the customer care department for assistance and guidance in the process.

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COGEAR Avenue de l’arme P.O.Box 2753 Kigali Rwanda Phone: 252 576041/52/79 Fax: 252 276082 Contact: Managing Director Services: ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance bond) ■■Motor insurance, ■■Fire and allied perils insurance, ■■Industrial all risks insurance, ■■Goods in transit ■■Burglary and theft, ■■Workmen’s compensation Cost of Services: Cost of service is dependent on the degree of risk of the business Requirement for Accessing the Service: Each of the above services has its unique requirements. It is advisable to contact the customer service officers for assistance and guidance through the application process. RELIANCE INSURANCE Plot 701, Avenue des Parc No.6 P.O.Box 5065, Kigali Rwanda Tel: 252 500316/ 0788 304278 Fax: 252 501334 Email: [email protected] Contact: Sales Manager

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Services: ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance bond) ■■Motor insurance, ■■Fire and allied perils insurance, ■■Industrial all risks insurance, ■■Goods in transit ■■Burglary and theft, ■■Workmen’s compensation

■■Burglary and theft, ■■Money in safe and Cash in transit, ■■Fidelity guarantee (Fraud and Dishonesty of Employees), ■■Bonds (Bid securities, Custom bonds, Performance bond, Advance bond) ■■Personal Accident ■■Group personal accident ■■Workmen’s compensation ■■Travel insurance

Cost of Services: Cost of service is dependent on the degree of risk of the business

Cost of Services: Cost of service is dependent of the value of property and level of risk involved

Requirement for Accessing the Service: Each of the above services has its unique requirements. It is advisable to contact the customer service officers for assistance and guidance through the application process.

Requirement for Accessing the Service: Each of the above services has its unique requirements. It is advisable to contact the customer service officers for assistance and guidance through the application process.

ALLIANCE INSURANCE BROKERS Plot 29, Avenue de la Paix P.O.Box 1395 Kigali Rwanda Tel: 252 507777 or 0788 503733 Website: www.aibafrica.com Contact: General Manager Organizational Brief: Alliance Insurance Brokers offers professional, independent advice on all General Insurance, Life & Pensions and Mortgage matters. Services: ■■Motor insurance, ■■Fire and allied perils insurance, ■■Industrial all risks insurance, ■■Goods in transit

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ANNEX 1: PRACTICAL TAXATION TIPS Incentives provided in the tax tariff apply to all SMEs including both local and foreign investors. Below are some of the practical taxation tips; ■■VAT Registration is beneficial and it gives you an advantage in costing. You should therefore insist on VAT invoices from suppliers. ■■Keep records of your capital investment for capital allowances and withholding tax. These are claimable at the end of the year and it reduces your Income Tax Liability. Check your import documentations for WHT records and collect receipts of WHT deduction from your customers. ■■Submission of early returns to Rwanda Revenue Authority reduces the interest and penalties ■■Proven records on tax compliances are rewarded; for instance you can be exempted from WHT. ■■Make your taxman your friend; consult him when in doubt on rates and procedures etc. RRA has a toll free number, call center and customer relations officers at all customs offices that you can consult.

ANNEX 1.1: TAX INCENTIVES The tax law nº16/2005 of 18/08/2005 on direct taxes on income provides many tax incentives to investors in Rwanda: ■■ INVESTMENT ALLOWANCE: An investment allowance of forty percent (40%) of the invested amount in new or used assets may be depreciated excluding motor vehicles that carry less than eight (8) persons, except those exclusively used in a tourist business is deductible for a registered investor in the first tax period of purchase and/or of use of such an assets if:

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■■The amount of business assets invested is equal to thirty million (30,000,000) Rwandan francs; ■■The business assets are held at the establishment for at least three (3) tax periods after the tax period in which the investment allowance was taken into consideration. ■■The investment allowance becomes fifty (50%) if the registered business is located outside Kigali or falls within the priority sectors determined by the Investment Code of Rwanda. ■■ TRAINING AND RESEARCH EXPENSES ■■All Training and Research expenses incurred and declared as agreed by a taxpayer and declared and earlier agreed and which promote activities during a tax period are considered as deductible from taxable profits in accordance with provisions of Article 21 of this law. ■■Expenses on training, research and on promotion of activities as applied in this Article do not concern the purchase of land, of houses, of buildings and other immovable properties including refining, rehabilitation and reconstruction as well as exploration expenses and other assets. ■■ LOSS CARRIED FORWARD If the determination of business profit results in a loss in a tax period, the loss may be deducted from the business profit in the next five (5) tax periods, earlier losses being deducted before later losses. ■■ TAX DISCOUNT AND EXEMPTION A registered investment entity that operates in a Free Trade Zone and foreign companies that have their headquarters in Rwanda that fulfils the requirements stipulated in the Rwandan law on Investment Promotion is entitled to: ■■Pay corporate income tax at the rate of zero per cent (0%); ■■Exemption from 15% withholding tax mentioned in Article 51 of the law nº 16/2005 of 18/08/2005 on direct income; ■■Tax free repatriation of profits.

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Small and Medium Enterprises ANNEX 2: SIMPLE IMPORT AND EXPORT PROCEDURE

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■■ PROFIT TAX DISCOUNT A registered investor shall be entitled to a profit tax discount of: ■■Two percent (2%) if the investor employs between one hundred (100) and two hundred (200) Rwandans; ■■Five percent (5%) if the investor employs between two hundred and one (201) and four hundred (400) Rwandans; ■■Six percent (6%) if the investor employs between four hundred and one (401) and nine hundred (900) Rwandans; ■■Seven percent (7%) if the investor employs more than nine hundred (900) Rwandans.

The process of importing and exporting of goods to and from Rwanda takes the following simple steps: However, it should be noted that different products have different requirements although the custom procedures are similar. An SME should therefore seek professional advice from a licensed clearing agent. The following are some of the simple requirements: For general exports for instance minerals and other goods: ■■Certificate of Origin (Issued by Rwanda Revenue Authority) ■■Packing List ■■Commercial Invoice ■■Export Documents (Issued by Rwanda Revenue Authority) For Agricultural Exports for instance Coffee and Tea: ■■Quality certificate (Issued by Rwanda Bureau of Standards) ■■Sanitation certificate (Issued by National Agricultural Export Board) ■■Certificate of Origin (Issued by Rwanda Revenue Authority) ■■Packing List Upon acquisition of the above documents, it is submitted to Customs Department of Rwanda Revenue Authority for verification and stamping for export. The export document is supposed to be signed and stamped by the receiving country’s customs department and returned for filing with Rwanda Revenue Authority. Importation of goods also takes the same procedures supported by the following documents: ■■Certificate of origin (from country of origin) ■■Packing list ■■Bill of lading or airways bill It is however imperative for an importer to verify with RRA which goods are prohibited from being imported into the country.

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NOTES

Procurement of goods, works and consultancy services in Rwanda is guided by the Law on Public Procurement No. 12/2007 of 29/03/2007. Public procurement is regulated by the Rwanda Public Procurement Authority (RPPA). Requirements for public procurement of goods, works and consultant services may greatly differ depending on what is being procured. It is therefore advisable for a bidder to critical study the Request for Proposal (RFP) document and responds according to the requirements. Below are some of the key generic requirements for public procurement of goods, works and consultancy services: ■■A bid letter signed and stamped by the competent authority, addressed to the procuring entity ■■Copy of the trade license (related to the tender or general business) ■■A valid tax clearance certificate issued by Rwanda Revenue Authority (original or a certified copy) - for local bidders. ■■A valid certificate issued by the Social Security (original or a certified copy) ■■copy of the FARG clearance certificate ■■Written confirmation authorizing the signature of the bid to commit the bidder (power of attorney) ■■Bid security ■■Proof of purchase of tender documents ■■Certificate of origin (for goods) ■■Manufacturer’s authorization (for goods and works) ■■Letters of reference

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Rwanda Development Board (RDB) Boulevard de l'Umuganda, Gishushu, Nyarutarama Road. P.O. Box 6239 Kigali, Rwanda Fax: +250 252 580388 Email: [email protected]