The National Industrial Research and Development Agency (NIRDA) on Tuesday started a three-day workshop on financial management, book keeping and records of financial transactions in books of accounts to companies that made it to the second phase in the Open Calls Program, Cow in the Car Value chain.
The interactive workshop covers various topics including financial management principles and practices, financial budgeting, production of financial reports and financial analysis.
The workshop participants include companies that passed the first phase of Open Calls Program in the Cow in the Car value chain and are competing in the second phase.
Companies that will be selected in the Cow in the Car will be supported to acquire upgraded equipment through NIRDA’s Open Calls which aims to boost the productivity & Competitiveness of their products from cow value chain on free interest loans and without any collateral.
Opening the Workshop on behalf of NIRDA Claire MUKESHIMANA, the Acting Division Manager for Business Advisory Services Division Manager said such a workshop was critical for selected companies as it will help them acquire necessary skills in the aforementioned areas in order to improve their businesses and make them more productive.
“We need to have knowledge in financial management and book keeping and know how to report our activities to ensure our businesses flourish,” she said.
Applicants are those who are in business in cow value chain business and have been doing same business for at least three years or young innovators with innovative ideas and have been in business for at least one year.
NIRDA works hand in hand with Development Bank of Rwanda (BRD) as a financial institutions through which the loans are channeled.
The project is being spearheaded by the National Industrial Research and Development Agency (NIRDA) with support from Eastern and Southern Africa Trade and Development Bank (TDB), and the OCP Group, a Moroccan fertilizer manufacturing company.