I&M Bank Rwanda has formed a strategic partnership with Aceli Africa, a non-profit organization committed to unlocking financing for agricultural small- and medium-sized enterprises across East Africa.
This alliance aims to provide Agri-SMEs in Rwanda with significant financial support through innovative incentives and risk-sharing mechanisms, fostering growth and development in the sector. The partnership aims to bolster the growth and development of Agri-SMEs by offering loans ranging from Rwf20 million to Rwf2 billion.
“We are thrilled to collaborate with Aceli Africa to significantly enhance our support for Agri-SMEs in Rwanda. This initiative aligns perfectly with our strategy to venture into the agriculture sector, which is vital for Rwanda’s economic development. With support from Aceli’s incentives and risk-sharing mechanisms, we can better support our clients in the agriculture sector, build their capacity, and ensure their growth and success,” I&M Bank Rwanda, Chief Executive Office, Benjamin Mutimura said.
In addition to financial support, the partnership will provide technical assistance to Agri-SMEs and training for I&M Bank staff. This dual approach aims to expand the demand for agricultural financing and enhance the bank’s ability to serve this sector effectively. A key focus of the technical assistance is to increase access to finance for women and youth entrepreneurs, who often face significant barriers in qualifying for loans.
“We welcome I&M Bank to Aceli’s incentives program and expect that this partnership will increase the bank’s risk appetite and capacity to finance agricultural SMEs that improve market access and livelihoods for farmers, boost agricultural productivity, and strengthen climate resilience,” Aceli Africa’s Chief Executive Officer, Brian Milder, noted.
The collaboration between I&M Bank Rwanda and Aceli Africa is expected to foster sustainable economic growth and development in Rwanda by empowering Agri-SMEs, promoting inclusive financial solutions, and driving impactful change in the agriculture sector. This initiative not only supports the financial needs of these enterprises but also aims to build their capacity and resilience, ensuring long-term success and contribution to Rwanda’s economy.
The partnership reflects a broader trend of financial institutions recognizing the critical role of agriculture in economic development and the importance of providing tailored financial solutions to support this sector. As Agri-SMEs continue to play a pivotal role in Rwanda’s economy, initiatives like this partnership between I&M Bank Rwanda and Aceli Africa will be essential in driving progress and fostering a more inclusive and resilient agricultural sector.
