I&M Bank Brings Tailored Financial Services to the Rwanda International Trade Fair
At the ongoing Rwanda International Trade Fair, I&M Bank Rwanda Plc has brought its innovative financial services directly to over 25,000 visitors. The bank’s stand, located on the left side of the main entrance, is a hub of activity with more than 15 service providers ready to assist attendees. The stand offers a full range of branch-like services, including ATM access, card issuance, account opening, and loan analysis.
The bank’s participation in the fair is part of its commitment to making banking services more accessible. Yves Kayihura, Head of Retail Banking at I&M Bank (Rwanda) Plc, emphasized that the initiative aligns with the bank's slogan, "Karame," which means "to bring" in Kinyarwanda. “We've moved I&M Bank to the expo. The whole Bank is here,” he said. “We're walking our word 'Karame.' We've responded to all our esteemed customers who will pass by here at our stand asking for any services.”
Expanding Access to Financial Services
I&M Bank has introduced several tailored financial products to meet the diverse needs of customers. These include ‘Agiserera na I&M Bank,’ designed for transporters or those involved in activities requiring vehicles and machinery, and ‘Ryoshya Iwawe’ for home appliances and furniture. Additionally, the bank offers mortgage loans of up to 30 years at affordable rates and ‘Kataza’ for the hospitality industry.
Kayihura explained that the goal of these services is not just to sell products but to understand customer needs and connect them with the right partners. “Karame isn't just about selling our products. It's about thinking ahead on behalf of our customers, especially understanding their needs and connecting them with the right partners to ensure they feel valued as I&M Bank customers,” he said.
Partnerships Enhance Customer Experience
Several companies are collaborating with I&M Bank to enhance the customer experience at the fair. Murli Menon, CEO of Hotpoint Appliances Rwanda Ltd, highlighted the bank’s partnership in running the ‘Ryoshya Iwawe’ interest-free loan programme. This initiative allows customers to purchase essential household items over six months with 0% interest.
Hotpoint, known for integrating retail and finance, offers a wide range of home appliances, including fridges, air conditioning systems, and more, with warranties of up to six months. Some products are classified as premium, and the catalog provides buyers with easy access to these items.
Clement Umuganwa, Marketing Manager at Smart Home, also partnered with I&M Bank for the ‘Ryoshya Iwawe’ campaign. This initiative targets customers who face challenges in making large one-time payments. Through this partnership, customers can now pay in instalments. “For as long as we have an agreement, your product is delivered immediately, and you can pay in instalments afterward. Payments can be made over a period of up to six months, with 0% interest and no collateral required,” he said.
Smart Home imports world-class standard furniture, including sofas, beds, garden chairs, carpets, dining sets, and a variety of utensils. During the fair, the company is offering a 25% discount on all products and providing delivery services within Kigali and nearby areas.
Supporting SMEs and Economic Growth
Jeanne Françoise Mubiligi, Chairperson of the Private Sector Federation (PSF), commended the presence of financial institutions at the fair. She noted that these institutions play a crucial role in expanding access to finance for Small and Medium-Sized Enterprises (SMEs) and providing a variety of financial solutions to meet their unique needs.
Mubiligi added that financial institutions are raising awareness about access to finance for SMEs, encouraging them to adopt digital transactions, and providing banking services on the spot. “Our partnership with these institutions has helped our members adapt to this shift. We thank them for the conducive environment they've created, and feedback indicates that accessing finance is now much easier compared to the past,” she said.
A Growing Business Exhibition
The 28th edition of the Rwanda International Trade Fair, organized by the PSF and the Ministry of Trade and Industry, has attracted participants from over 19 countries, including new entrants such as Cameroon and Saudi Arabia. This year’s event features 475 exhibitors, with 378 being local businesses. The fair, which kicked off on July 29 and was officially opened on August 5, will run through August 17.
This year’s exhibition continues to serve as a vital platform for business networking, innovation, and economic growth in Rwanda and beyond.