Bank of Kigali (BK) has partnered with Kivu Choice Ltd., a leading aquaculture company, in a RWF 5 billion agreement to boost Rwanda’s fish farming industry. Announced on Oct. 10, 2024, the deal includes an initial RWF 1 billion investment and is part of BK’s broader initiative to support agricultural growth and enhance food security in Rwanda.
The partnership will enable Kivu Choice to expand its production capacity, helping make fish products more affordable and accessible across the country. The aquaculture sector is viewed as a key driver of sustainable food production in Rwanda, offering nutritious options while creating jobs and improving rural livelihoods.
“This partnership with Kivu Choice is a transformative step for Rwanda’s agricultural sector,” said Dr. Diane Karusisi, CEO of Bank of Kigali. “By supporting businesses in aquaculture, we are not only ensuring affordable, sustainable food but also driving rural development. Investing in agriculture fosters inclusive economic growth and strengthens the resilience of communities.”
Kivu Choice CEO Kamran Ahmad highlighted the importance of the funding, saying, “Our partnership with BK will allow us to expand our equipment and infrastructure, helping us scale our operations to serve more of the market. This investment brings us closer to making our products accessible and affordable nationwide.”
The deal also extends to the entire aquaculture value chain, providing financing to suppliers and traders. Kivu Choice, which currently employs 350 people, plans to grow its workforce to 1,200 within three years.
BK’s commitment to agriculture includes tailored financial solutions that support sector modernization. The bank offers accessible financing to agribusinesses and customized products for farmers, ensuring that Rwanda’s agriculture industry has the resources needed to thrive.
About Bank of Kigali Plc
Established in 1966, Bank of Kigali is Rwanda’s largest financial institution, serving over 500,000 customers. The bank provides a wide range of services, including digital banking, and is dedicated to fostering innovation and economic growth through targeted financial solutions for individuals, SMEs, and corporations.
About Kivu Choice Ltd
Kivu Choice is a vertically integrated aquaculture company in Rwanda, operating in feed production, hatcheries, cage farming, and distribution. Founded in 2021, the company produces over 500,000 fish meals a month and aims to democratize access to animal protein by increasing affordability and supply across the region.
