Bank of Kigali has launched a financial literacy clinic, an educative and entertaining program that
seeks to provide financial literacy to the youth.
“For instance, artists earn a lot of money from concerts but rarely paid through bank accounts yet they need to execute stalling projects or invest in different businesses to streamline sources of income. Bank of Kigali is aware of challenges in the music industry and wants to advise them on how they can manage their finances. That is why we recommend them to open accounts through which all payments will be channeled. Having records of their account history will enable us to identify all risks involved and assess the feasibility of loan repayment,” added Nshuti.
Among others, Nshuti revealed that the bank has organized weekly awards for selected individuals following its platforms where the financial literacy show is aired.
According to Joseph Mushyoma, the CEO of East African Promoters (EAP) which organizes Iwacu Muzika Festival, artists need capital to promote their talent and underscored that such financial literacy clinic is crucial as it creates awareness on efficient utilization of income.
Launched last year, the festival is aimed at promoting Rwandan music by bringing together different artists in their respective age brackets on the same stage.
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