BRD launches SACCO-based financing scheme to boost agriculture, youth and SMEs

By The Inspirer.

The Development Bank of Rwanda (BRD) has launched a new financing initiative delivered through district-level SACCOs, aimed at improving access to affordable credit for farmers, livestock keepers, youth, and small and medium enterprises.

The programme, rolled out in Nyamagabe District through Ishema SACCO, is part of a nationwide strategy to deepen financial inclusion and strengthen productive sectors of the economy.

It introduces tailored loan products designed to support different groups, including farmers, traders, and young entrepreneurs, with a focus on expanding production, creating jobs, and improving resilience.

The flagship agricultural loan, “Iganze Muhinzi-Mworozi”, targets farmers and livestock keepers at an annual interest rate of 10%, with the goal of boosting productivity and commercialisation in agriculture.

The “Hatana” loan, with interest rates ranging between 8% and 12%, is designed for small and medium enterprises seeking to expand operations and adapt to economic pressures.

A youth-focused product, “Kataza”, offers financing at 9% interest for young people engaged in agriculture, tourism, and hospitality, supporting startup and expansion of income-generating projects.

Early beneficiaries say the scheme is already transforming livelihoods. In Nyamagabe, young farmer Mukayiranga Josiane said a Rwf 10 million loan enabled her to scale up from small-scale farming to a more commercial operation, significantly increasing production and employment.

Another beneficiary, livestock and crop farmer Munyanziza Frodouard, said a Rwf 60 million facility is enabling him to expand potato farming and invest in organic fertiliser production, alongside livestock enterprises.

Cooperatives, including those involving refugee and host communities, are also set to benefit, with improved access to inputs expected to boost agricultural yields.

BRD Chief Executive Officer Stella Rusine Nteziryayo said the partnership with SACCOs is designed to bring low-cost financial services closer to citizens, particularly in rural areas.

She urged farmers and entrepreneurs to take advantage of the financing opportunities, noting that the initiative is intended to drive productivity, innovation, and inclusive growth.

Local authorities welcomed the programme, saying it aligns with national development goals by increasing agricultural output and improving household incomes.

The initiative is backed by over Rwf 1.4 billion in credit lines through Ishema SACCO, with significant allocations directed toward agriculture and youth-led enterprises, as early disbursements continue to reach beneficiaries.