25 February 2025, Kigali, Rwanda - Bank of Kigali Plc (BK) has announced a strategic partnership with Proxtera Pte Ltd under the Rwanda Imbaraga SME Ecosystem (RISE) initiative. Developed in collaboration with the National Bank of Rwanda, the Monetary Authority of Singapore, and the Business Development Fund (BDF), this initiative aims to strengthen Rwanda’s SME financial ecosystem by enhancing access to financing, trade opportunities, and financial literacy.
As part of this collaboration, BK will integrate its loan products into Proxtera’s meta-hub, a global trade network connecting trusted buyers and sellers across Africa and Asia. Through the platform, SMEs can apply for financing, access BDF guarantees, and benefit from informed lending decisions—leveraging data from the National Bank of Rwanda.
Key Benefits for SMEs:
- Empowered Financial Literacy & Green Financing – BK clients gain free access to financial literacy and sustainability-focused courses, equipping them with essential business skills.
- Expanded Trade Opportunities – Upon course completion, SMEs will join Proxtera’s global trade hub, unlocking new market connections.
- Seamless Financing Access – Businesses can apply for financing directly on the Proxtera platform, simplifying the lending process.
- Integrated Guarantee Support – SMEs can request BDF-backed guarantees within the same system, strengthening their borrowing capacity.
This partnership aligns with Rwanda’s Vision 2050, which seeks to transform the country into a high-income economy through innovation, digital transformation, and private sector growth. By integrating Rwandan SMEs into a global digital trade ecosystem, Bank of Kigali is accelerating the transition toward a knowledge-based economy while fostering inclusive financial growth.
Dr. Diane Karusisi, CEO of Bank of Kigali, emphasized the partnership’s impact:
“This collaboration with Proxtera marks a major step in our commitment to SME growth. By integrating our financing solutions into a global trade platform, we are expanding trade opportunities, simplifying access to capital, and equipping Rwandan businesses with the tools to thrive in an increasingly digital economy.”
Saurav Bhattacharyya, CEO of Proxtera, underscored the partnership’s role in advancing SME growth: "Partnering with Bank of Kigali further strengthens RISE’s mission to empower SMEs with the resources they need to grow and compete globally. Access to financing remains one of the biggest challenges for SMEs looking to expand, and this collaboration makes it easier for businesses to participate in cross-border trade. Aligned with the government of Rwanda’s vision for SME development and economic transformation, we continue working with key stakeholders to build a more inclusive and connected trade ecosystem."
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About Bank of Kigali
Bank of Kigali, established in 1966, is Rwanda’s largest financial institution, serving over 500,000 customers through a robust network of branches and digital banking platforms. The bank is committed to fostering economic growth by providing innovative financial solutions tailored to individuals, SMEs, and corporations.
About Proxtera
Proxtera is creating the global open digital ecosystem of MSMEs (micro, small and medium enterprises) with trusted credentials that help them gain access to trade opportunities and financial services for greater growth.
Proxtera’s mission is to transform business-to-business trade using technology to make marketplaces efficient and discoverable globally and to enable holistic cross-marketplace and cross-border trade leveraging trusted credentials to improve financing, fulfilment and empowerment.
Proxtera was launched at the end of 2020 as the operationalisation of the Business sans Borders (BSB) initiative by MAS and the Infocomm Media Development Authority (IMDA). BSB seeks to develop a collaborative global digital infrastructure that would help to increase cross-border trade opportunities and enhance digital and financial inclusivity for MSMEs in the underserved global B2B e-commerce market space.
Find out more at https://proxtera.com or email us at contact@proxtera.com.