INDYOHESHABIRAYI CO.

LTD
TEL : +250 788300470

AHO UZAKORERA : Umurenge wa GITI, Akarere ka GICUMBI

 UKWIZAGIRA Gaston
 
Ukuboza 2020
INCAMAKE

• Uyu mushinga ugamije ubworozi bw’ingurube bwa kijyambere, kandi ufitre ibyiciro bibiri : 
• Icyciro cyo gukwiza icyororo cy’ingurube : kizakwiza mu borozi bo mu karere icyororo
cy’ingurube, ibyana by’ingurube by’amezi 2, by’ubwoko butanga umusaruro mwiza (LARGE
WHITE).
• Icyiciro cyo korora neza ingurube zo kubaga : kizorora ingurube kizigaburira neza, kugira ngo zibe
zibyibushye bihagije , ku buryo zabagwa .
• Umushinga uzakoresha uburyo bwo kororera amatungo menshi ahantu hato (élevage intensif,
ukoresheje ubwoko bw’amatungo butanga umusaruro ushimishije, -aha ni LARGE WHITE--,
akagaburirwa neza ibiryo bihagije ku rugero , kandi bifite ibya ngombwa byose, zororewe
ahantu hakwiye kandi hagenzurwa bihagije ; Umushinga ugacungwa neza ku buryo uzatanga
umusaruro mwiza ku mpande ebyiri : utugurube duto tw’inyagazi dutangwaho icyororo,
n’ingurube zibyibushye zo kubagwa.
• Hari ingorabahizi ubusanzwe zibangamira iterambere ry’ubworozi bw’u Rwanda muri rusange,
n’ubw’ingurube ku buryo bw’umwihariko. Ni eshanu: izerekeranye n’ibiryo by’amatungo, isuku
n’indwara, ubwoko bw’amatungo, izijyanye no kongerera agaciro amatungo no kuyabyaza
umusaruro.
• Kugira ngo umushinga ushobore kugira icyo ugeraho kigaragara, uzagomba guhangana no
kwigizayo izo ngorabahizi zose. Uzabishobora kandi, kubera ko ubifitiye ingamba , cyane cyane ko
nyira wo abifitemo uburambe bihagije, kandi akaba azitabaza n’impuguke zizewe.
INCAMAKE (Ibikurikira)
•Amafaranga azagenda ku mushinga ni 14.676.000 Frw.
•Igice kimwe cyayo kizaturuka kuri nyir’umushinga ubwe, iindi gitangwe na Banki y’ubucuruzi yo mu gihugu,
giherekejwe n’inkunga y’umushinga ya BDF.
• Uruhare rwa nyir’umushinga rurangana n’amafaranga 4.676.000 Frw, ni ukuvuga 32 % by’amafaranga
azagenda ku mushinga yose; naho amafaranga azaturuka hanze y’umushinga azaba 10.000.000 Frw, ni
ukuvuga 68 % by’amafaranga yose.

•6.000.000 Fr zizaturuka kuri Banki, ari inguzanyo izishyurwa mu myaka itanu, asigaye
•4.000.000 Frw, ni ukvuga 32% by’amafaranga azaturuka hanze y’umushinga, atangwe na BDF ibinyujije kuri
gahunda yayo yo gushyigikira ishoramari ryo mu byaro ; aya yo azaba ari inkunga itishyurwa.
•Nta shiti ko umushinga uzunguka, kuko, mu mwaka wawo wa mbere ubwawo, uzaba ufite Inyungu ivangiye
(marge brute) , mbere yo kwishyura imisoro, ingana na 8.422.000 Frw, kandi ufite
•ikigereranyo cyo kwunguka (Ikigereranyo cy’uburyo umushinga uzabyara inyungu (taux de rentabilité
interne) kingana na 29,3 %, , bigaragara ko kiruta rwose igisanzwe ku isoko ry’imari ( marché financier)
ryo mu gihugu imbere (16%).
•Ingwate zizatangwa ku nguzanyo zirusha agaciro bigaragara amafaranga azagurizwa nyir’umushinga :
8.258.884 Frw, ni ukuvuga 10 000 000 Frw y’inguzanyo ubwayo na
•2.158.884 Frw y’inyungu mu gihe cy’imyaka 3
IRIBURIRO
•ikibazo cy’ubucye bwa proteyine zikomoka ku matungo mu mirire y’abaturage gihangayikishije Leta y’u
Rwanda kuko idasiba gukangurira abaturarwanda kwita ku mirire myiza harwanywa bwaki n’igwingira rikiboneka
mu bana bakiri bato.
•Koko rero, uko ibintu byifashe ubu, isuzuma ry’ibiribwa by’abantu bituruka ku matungo rigaragaza ko umusaruro
w’igihugu ubwawo utanga 50% gusa bya proteyine zikomoka ku nyamaswa zikenewe n’abaturage.
• Nyamara kandi, hakurikijwe imibare ya FAO, mu Rwanda, ubworozi bwonyine bwagombye gutanga 10%
by’ibikenewe muri proteyine , ni ukuvuga garama 6 ku munsi kuri buri muntu .
•Birasanzwe, igihe cyose n’ahantu hose, uruhare rw’ubworozi mu gutanga ibitunga abantu ni indasimburwa.
Nyamara mu Rwanda, ntirubasha gutanga ibiribwa byose abaturage babukeneyeho .
•Muri rusange twavuga ko hari icyuho mu mirire y’abaturage, kigereranywa na garama 2,4 ku muturage kandi ku
munsi .
•Kubera icyo kibazo, kandi ihereye ku nshingano yayo yo gutanga amerekezo mu nzego zinyuranye z’ubuzima
bw’Igihugu, Leta y’u Rwanda, ibinyujije kuri Minisiteri y’Ubuhinzi n’ubworozi ifite nyine mu nshingano zayo
guteza imbere ubworozi, imaze gushyiraho gahunda inoze y’igihugu yo guteza imbere ubworozi.
•Iyo gahunda, ku byerekeranye no guteza imbere umusaruro w’ubworozi, yibanda kuri politiki yo gushyira
imbere ubuzobere (spécialisation) no guharira uturere ibikorwa by’ubworozi biberanye na two
(régionalisation).
• Icyo gitekerezo cy’ubuzobere gisaba ko ubworozi bw’inka bwagombye kwibanda ku guteza imbere umusaruro
w’amata, ubw’amatungo atuza (monogastriques) (ingurube, ibiguruka, inkwavu) bukibanda ku guteza imbere
umusaruro w’inyama, naho ubw’amatungo mato yuza (ihene intama.) bukibanda ku guteza imbere umusaruro
w’amata n’inyama
• 
I. IBIRANGA NYIR’UMUSHINGA
1.1. AMAZINA: UKWIZAGIRA Gaston
1.2. ICYICARO CY’UMUSHINGA
• AKAGARI KA RWESERO
• UMURENGE WA RUTARE
• AKARERE KA GICUMBI
• INTARA Y’AMAJYARUGURU
1.3. AHO IBIKORWA BY’UMUSHINGA BIGERA
Ibikorwa by’umushinga bizagera mu mirenge 3 igize akarere ka Gicumbi ni ukuvuga:
Rutare, Giti na Byumba.
1.4. UBURAMBE N’AMATEKA Y’UMUSHINGA
INDYOHESHABIRAYI CO. LTD yashinzwe mu mpera z’umwaka wa 2019, nyirawo amaze
kugira igitekerezo cyo korora bya kijyambere ingurube Nyirawo, Bwana UKWIZAGIRA
Gaston afite uburambe buhagije mu birebana n’ubworozi bw’amatungo magufi, kandi
azitabaza n’impuguke zizewe.
2. Intego z’umushinga

2.1. Intego Rusange

1. Kugira uruhare mu guteza imbere ubworozi bw’ingurube n’ibikorwa bibushamikiyeho :
ukwiza mu borozi icyororo cy’ingurube zitanga umusaruro utubutse z’ubwoko bwa LARGE
WHITE.
2. Kugira uruhare mu kubonera abaturage ibiribwa bakeneye: bashyira ku isoko umusaruro
w’ibikomoka ku matungo: inyama, amavuta y’ingurube (saindoux) bikomoka ku ngurube
zororewe, hamwe n’izivanywe mu bworozi zirangije igihe cyo kubyara (réforme).
3. Kugira uruhare mu kongera imyerere y’ubutaka : utanga ifumbire nziza kandi nyinshi.
4. Kugira uruhare mu kugabanya icyuho kirangwa mu buhahirane bw’igihugu n’Amahanga,
hagati y’ibitumizwa n’ibyoherezwa hanze (balance de paiements) : kubera ko inyama
zatumizwaga hanze zizagabanuka, ahubwo hakaboneka uburyo bwo kuba hagira inyama
z’ingurube n’ibizikomokaho byoherezwa hanze.
5. Kugira uruhare mu kubonera abantu akazi : ushyira mu karare ukoreramo n’ahandi mu
Gihugu ibigo bitunganya umusaruro ukomoka ku ngurube, unongera umubare w’abantu
bazashora imari mu bworozi bw’ingurube n’ibindi bikorwa bibushamikiyeho.
2.2. Intego zihariye
Guteza imbere umuryango wanjye biturutse ku nyungu zizava mu mushinga
3. INGAMBA ZO GUSHYIRA UMUSHINGA MU BIKORWA NA GAHUNDA YABYO

3.1. Ibyiciro bigize umushinga.

Umushinga ugizwe n’ibyiciro bibiri :
• Icyo gukwiz’ icyororo cy’ingurube : kizajya gikwiza mu
borozi bo mu karere ibyana by’ingurube z’ubwoko
butanga umusaruro mwiza bwa Large White bimaze
amezi abiri bivutse.
•  Icyiciro cyo korora ingurube zo kubaga : kizajya
kigaburira ingurube neza kugira ngo zibyibuhe vuba,
nizibagwa zitange inyama nyinshi.
3.2. Ingamba
• Umushinga uzakoresha uburyo bwo kororera ingurube nyinshi ahantu
hato kandi hagamijwe umusaruro mwiza utubutse (système
intensif)ukoresheje ubwoko butanga umusaruro utubutse, ugaburire
ingurube ibiryo byiza kandi birimo ibya ngombwa byose, ikindi kandi
uzororere ahantu hagenzurwa bihagije ku byerekeye isuku, ubworozi
bwazo bucungwe neza ku buryo butanga ibyana byiza byo
gukwirakwiza nk’icyororo, kimwe n’ingurube zagaburiwe byagaburiwe
neza zibyibushye zo kubaga.
• Ingamba zo gutubura umusaruro zizibanda ku kwigizayo ingorabahizi
zibangamira iterambere ry’ubworozi bw’ingurube, kugira ngo
umushinga ushobore kugeza ku isoko umusaruro mwiza ubereye
abaguzi.
3.3. SWOT Analysis

S
Strength (Imbaraga)
• Gaston afite Uburambe mu mushinga
y’ubworozi
• Dushyigikiwe n’ubuyobozi bw’Akarere
W Weakness (Intege nke)
• Umushinga uracyari mushya
• Kubona amatungo meza
• Dufite ahantu hahagije ho kororera
• Dufite ubwoko bwiza bw’amatungo
biragorana
• Kudakora ingendo shuri
(white large)

O Opportunity (Amahirwe)
• Dufite BDF yiteguye kudutera
inkunga
T Threat (Imbogamizi)
• Indwara zibasira amatungo
• Abakeba benshi ku isoko
• Banki ziteguye kuduha inguzanyo • Ibyo kurya by’amatungo
• Isoko ry’inyama irahari biracyahenze cyane ku
• Dufite amahirwe yo kohereza isoko
hanze umusaruro wacu
 4. INYIGO MU RWEGO RW’ISOKO
• Ku byerekeye amasoko, ingamba zizitabazwa zizaba izo kuyashakisha no kuyagezaho
umusaruro utagira amakemwa, ku biciro biri hasi byakurura umuguzi, kubera ko umushinga
uzihatira gucunga ibintu byawo neza, ugerageza kugabanya amafaranga agenda ku bikorwa,
no kugena igiciro kiwuha inyungu ugeraranije na ba mukeba.
• N’ubwo hari abakeba benshi, ntabwo babasha guhaza isoko!
5. INYIGO KU RWEGO RWA TEKINIKI

5.1. ITEGANYA MUTUNGO UTIMUKANWA

Ibyo aribyo (Ibikoresho) Ingano/umubare Icyiguzi cya kimwe Icyiguzi cya byose

UBUTAKA    

INZU    
 5.2. ITEGANYA BIKORESHO MURI PRODUCTION

Ibyo aribyo Ingano/umubare Icyiguzi cya kimwe Icyiguzi cya byose

(Ibikoresho)

       

       

       

       

       

       

       

       

       

Igiteranyo  
5.3. ITEGANYA BIKORESHWA/RAW MATERIAL

Ingano/umub Ikiguzi cya Ikiguzi cya byose

Ibyo aribyo (Ibikoreshwa) are kimwe

       
       
       
       
       
       
       
       
Igiteranyo  
5.4. ITEGANYA BIKORWA BIREBANA NA PRODUCTION

Ingano/umubare Ikiguzi cya kimwe Ikiguzi cya byose

Ibyo aribyo (Ibikorwa)
Urugero Mubuhinzi      
Igikorwa cyo guhinga
       
       
       
       
       
 5.5. AGACIRO KOSE K’UMUSHINGA
IKIGUZI CYA
IBYARIBYO
BYOSE
UMUTUNGO UTIMUKANWA  
IBIKORESHO BY’UMUSHINGA  
IBIKORESHWA/RAW MATERIAL  
IBIKORWA BIREBANA NA PRODUCTION  
IGITERANYO CYA BYOSE/IGISHORO  
 
6. INYIGO MU RWEGO RW’IMALI

6.1. IGISHORO N’AHO KIZATURUKA

  Agaciro kose Uruhare rwa nyir’umushinga Inguzanyo
k’umushinga Ibyamaze Ibigomba isabwa
gukorwa gukorwa
- Amafaranga        
y’ikubitiro
- Isambu
- Inyubako
- Ibikoresho
- Igishoro
- Ibindi
TOTAL        
% 100      
6.2. Uruhare rwa Nyir’umushinga

AMAFARNGA YA
IBIKORWA UMUBARE KIMWE AMAFARNGA YA BYOSE
IMASHINI Y’IKARAGIRO 1 12,000,000 12,000,000

IKAMYONETI 1 5,000,000 5,000,000

FRIGO 2 250,000 500,000

IBICUBA 15 100,000 1,500,000

AMATA ACURUZWA 8696 230 1,000,000

 IGITERANYO 20,000,000
6.2. Amafaranga akenewe nk’inguzanyo ya Bank
AGACIRO KA AGACIRO KA
IBYARIBYO UUBARE KIMWE BYOSE
KONGERA IBICUBA 30 100,000 3,000,000
KUGURA FRIGO NINI 1 800,000 800,000
UMUKAMO 7,348 230 1,690,000
AKABIDO KA 5 LTS 2,500 550 1,375,000
AKABIDO KA 3 LTS 2,500 350 875,000
UDUCUPA TWA YAOURT 2,000 130 260,000
IGITERANYO 8,000,000
6.2. INGUZANYO YA BANKI

• Amafaranga y’inguzanyo ya banki ingana na

8,000,000 FRW azishyurwa mugihe cy’imyaka 3
• Inyungu iteganyijwe ni 18% ku mwaka
 6.3. UKO INGUZANYO IZAJYA YISHYURWA

UBWISHYU BWA BURI

NO AMAFARANGA UBWISHYU INYUNGU ASIGAYE KWISYURWA INYUNGU ZITERANYIJE
KWEZI

1 8,000,000.00 289,219.16 169,219.16 120,000.00 7,830,780.84 120,000.00

2 7,830,780.84 289,219.16 171,757.45 117,461.71 7,659,023.38 237,461.71

3 7,659,023.38 289,219.16 174,333.81 114,885.35 7,484,689.57 352,347.06

4 7,484,689.57 289,219.16 176,948.82 112,270.34 7,307,740.75 464,617.41

5 7,307,740.75 289,219.16 179,603.05 109,616.11 7,128,137.70 574,233.52

6 7,128,137.70 289,219.16 182,297.10 106,922.07 6,945,840.60 681,155.58

7 6,945,840.60 289,219.16 185,031.56 104,187.61 6,760,809.04 785,343.19

8 6,760,809.04 289,219.16 187,807.03 101,412.14 6,573,002.01 886,755.33

9 6,573,002.01 289,219.16 190,624.13 98,595.03 6,382,377.88 985,350.36

10 6,382,377.88 289,219.16 193,483.50 95,735.67 6,188,894.38 1,081,086.03

11 6,188,894.38 289,219.16 196,385.75 92,833.42 5,992,508.64 1,173,919.44

12 5,992,508.64 289,219.16 199,331.53 89,887.63 5,793,177.10 1,263,807.07

6.4. Uko babara Inyungu z’umwaka

Umwaka Inyungu z’umwaka

1 1,263,807.07

2
832,112.41
3
315,970.43
6.5. Uko babara Inguzanyo isigara

Umwaka Inguzanyo Isigara /Outstanding

capital

0 8,000,000.00

1
5,793,177.10
2
3,154,659.54
3
0
6.6. Ubwisazure bw’imitungo iramba n’ibikoresho

UMUTUNGO % UBWISAZURE KU MWAKA

Ubutaka 0%
Inzu 5%
Imodoka 25%
Imashine z’uruganda 25%
Moto 25%
Ameza, Intebe, Utabati,… 25%

Imashini za bureau, 50%

Computer, Imprimantes,…
 6.7. Urugero rw’uko babara ubwisazure

IBYARIBYO AGACIRO % UMWAKA 1 UMWAKA 2 UMWAKA 3 UMWAKA 4 UMWAKA 5

IMASHINI Y’IKARAGIRO 25% 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

12,000,000
IKAMYONETI 25% 1,250,000 1,250,000 1,250,000 1,250,000 1,250,000

5,000,000
FRIGO 25% 325,000 325,000 325,000 325,000 325,000

1,050,000
IBICUBA 25% 1,125,000 1,125,000 1,125,000 1,125,000 1,125,000

4,500,000

5,700,000 5,700,000 5,700,000 5,700,000 5,700,000

22,550,000
 IGITERANYO
 7. IMYUNGUKIRE
7.1. IKIRANGUZO N’IBIZAKORESHWA KU KWEZI NO MUMWAKA
IGICIRO CYA
IBYARIBYO UMUBARE KIMWE IBYIYONGERA IGICIRO CYA BYOSE

AMATA YOSE 11,696 230   2,690,040

AMATA ASANZWE 4,800 230   1,104,000

IKVUGOTO 4,800 230 336,000 1,440,000

YAOURT 2,096 230 209,583 691,623

IGITERANYO 11,696 230 545,583 3,235,623

IKIRANGUZO N’IBIZAKORESHWA KU MWAKA

3,235,623 FRW X 12 = 38,827,471FRW
7.2. IGICURUZO CYOSE CY’UKWEZI NO KU MWAKA

IGICIRO CYA IGICIRO CYA

IBYARIBYO UMUBARE KIMWE BYOSE
4,800 500 2,400,000
AMATA ASANZWE
4,800 600 2,880,000
IKIVUGUTO
2,096 800 1,676,800
YAOURT

IGITERANYO 11,696 6,956,800

IGICURUZO CY’UMWAKA
6,956,800 Frw x 12 = 83,481,600
7.3. IBIPFUNYIKISHO (EMBALLAGE)

IGICIRO CYA IGICIRO IGICIRO KU

AMATA ASANZWE UMUBARE KIMWE CYOSE/KWEZI MWAKA
AKABIDO KA 5 LTS 240 400 96,000 1,152,000
AKABIDO KA 3 LTS 100 280 28,000 336,000
AKABIDO KA 1 LT 2,400 70 168,000 2,016,000
IGITERANYO 292,000 3,504,000
AMATA Y'IKIVUGUTO -
AKABIDO KA 5 LTS 240 400 96,000 1,152,000
AKABIDO KA 3 LTS 400 280 112,000 1,344,000
AKABIDO KA 1 LT 2,400 70 168,000 2,016,000
IGITERANYO 376,000 4,512,000
YAOURT -
ICYUPA RYA 1/2 LT 4,192 30 125,760 1,509,120
IGITERANYO CYOSE 793,760 9,525,120
7.4. UMULIRO N’AMAZI

• Ikaragiro ry’amata risaba ko hishyurwa umuliro n’amazi kandi

hakazishyurwa nibura 200,000 frw buri Kwezi. Cyangwa 2,400,000 frw
buri mwaka
7.5. IMODOKA Y’IKARAGIRO RY’AMATA
Gukoresha no gukanisha
• Imodoka Hillux izakoreshwa kabiri mu mwaka ikazajya bitwara nibura
300,000 frw.
Amavuta izanywa
• Imodoka izanywa amavuta nibura 200,000 frw ku kwezi nukuvuga
2,400,000 ku mwaka
 7.6. IGIHEMBO CY’ABAKOZI
ABO ARIBO
UMUBA IGIHEMBO KU IGIHEMBO KU
RE IGIHEMBO KWEZI MWAKA
INGENIEUR 1 200,000 200,000 2,400,000
UMUBARURAMALI 1 150,000 150,000 1,800,000
ABASHINZWE 2 100,000 200,000 2,400,000
UBUCURUZI
UMUSHOFERI 1 100,000 100,000 1,200,000
ABASHINZWE ISUKU 2 30,000 60,000 720,000
UMUZAMU 1 30,000 30,000 360,000
IGITERANYO 740,000 8,880,000
7.7. INYUNGU KU NGUZANYO ZISHYURWA BURI
MWAKA
UMWAKA 1 UMWAKA 2 UMWAKA 3 UMWAKA 4 UMWAKA 5

1,263,807 832,112 315,970 0 0

7.8. INGUZANYO ISIGARA BURI MWAKA

UMWAKA 0 UMWAKA 1 UMWAKA 2 UMWAKA 4 UMWAKA 5

8,000,000 5,793,177 3,154,659 0 0

8. Intumbero y’imibare mugihe kizaza / Assumptions

• Umusaruro uziyongera ho 10% kubera abaguzi

bazaba biyongererye umushinga umaze
kumenyerwa ku isoko;
• Igiciro kiziyongera ho 5% kubera itakazagaciro
k’ifaranga;
• Ibizakoreshwa biziyongeraho 10%
 9. KONTI Y’ITUBYA N’IYONGERAMALI
IBYARIBYO UMWAKA 1 UMWAKA 2 UMWAKA 3 UMWAKA 4 UMWAKA 5
AYINJIRA          
AMATA ASANZWE 28,800,000 29,952,000 31,150,080 32,396,083 33,691,927
IKIVUGUTO 34,560,000 35,942,400 37,380,096 38,875,300 40,430,312
YAOURT 20,121,600 20,926,464 21,763,523 22,634,063 23,539,426
IGITERANYO 83,481,600 86,820,864 90,293,699 93,905,447 97,661,664
ASOHOKA          
AMATA YARANGUWE KU MWAKA 38,827,471 40,380,570 41,995,793 43,675,625 45,422,650
IBIPFUNYIKISHO 9,525,120 9,906,125 10,302,370 10,714,465 11,143,043
GUKORESHA NO GUKANISHA
IMODOKA 300,000 312,000 324,480 337,459 350,958
AMAVUTA Y'UMODOKA 2,400,000 2,496,000 2,595,840 2,699,674 2,807,661
UMURIRON'AMAZI 2,400,000 2,496,000 2,595,840 2,699,674 2,807,661
ABAKOZI 8,880,000 9,235,200 9,604,608 9,988,792 10,388,344
INYUNGU KU NGUZANYO 1,263,807 832,112 315,970 0 0
UBWISAZURE 5,700,000 5,700,000 5,700,000 5,700,000 5,700,000
IGITERANYO 69,296,398 71,358,007 73,434,901 75,815,688 78,620,316
URWUNGUKO MBERE YO GUSORA 14,185,202 15,462,857 16,858,798 18,089,759 19,041,349
UMUSORO 4,255,561 4,638,857 5,057,639 5,426,928 5,712,405
URWUNGUKO NYUMA YO GUSORA 9,929,641 10,824,000 11,801,158 12,662,831 13,328,944
UBUSHOBOZI BW'UMUSHINGA 15,629,641 16,524,000 17,501,158 18,362,831 19,028,944
10. IFOTO Y’UMUTUNGO

AHO AHEREREYE UMWAKA 0 UMWAKA 1 UMWAKA 2 UMWAKA 3 UMWAKA 4 UMWAKA 5

IMASHINI 12,000,000 9,000,000 6,000,000 3,000,000  

IMODOKA 5,000,000 3,750,000 2,500,000 1,250,000  

1,300,000 975,000 650,000 325,000
FRIGO
4,500,000 3,375,000 2,250,000 1,125,000
IBICUBA
AMAFARNGA 5,200,000 18,622,818 32,508,300 46,854,800 65,217,631 78,546,575
N'AMATA /FONDS
DE ROULEMENT
28,000,000 35,722,818 43,908,300 52,554,800 65,217,631 78,546,575
IGITERANYO
AHO YATURUTSE
20,000,000 20,000,000 29,929,641 40,753,641 52,554,800 65,217,631
NYIRUMUSHINGA
8,000,000 5,793,177 3,154,659
INGUZANYO
9,929,641 10,824,000 11,801,158 12,662,831 13,328,944
URWUNGUKO
28,000,000 35,722,818 43,908,300 52,554,800 65,217,631 78,546,575
IGITERANYO
• Mwibuke ko Ibikoresho bigenda byisazura nk’uko
mubibona
• Bitewe n’uko umushinga ugenda wunguka
Rwiyemezamirimo ashobora kongeramo ibindi bikoresho
biramba, cyangwa agakomeza gukoresha ibisanzwemo
ariko anashaka uburyo yagura ibindi kuko amafaranga
bisaba aba yaragiye ayazigama buri mwaka mu
bwisazure bwabyo
• Mwibuke nanone ko Inguzanyo igenda igabanuka nkuko
bigaragara mu mbonerahamwe.
• Muri Konti y’itubya n’iyongeramari hafatwa inyungu ku
Inguzanyo ntabwo ari amafaranga yose azishyurwa
Inguzanyo
 11. GAHUNDA Y’UKO AMAFARANGA AKORESHWA MU MWAKA

IBYARIBYO UKWEZI 0 UKWEZI 1 UKWEZI 2 UKWEZI 3 UKWEZI 4 UKWEZI 5 UKWEZI 6

AYINJIYE
AHEREWEHO - 1,498,198 2,996,394 4,494,588 5,992,780 7,490,970
NYIRUMUSHINGA 20,000,000
INGUZANYO 8,000,000
ACURUJWE 6,956,800 6,956,800 6,956,800 6,956,800 6,956,800 6,956,800
IGITERANYO 28,000,000 6,956,800 8,454,998 9,953,194 11,451,388 12,949,580 14,447,770
ASOHOKA
ARANGUWE 2,690,000 3,235,623 3,235,623 3,235,623 3,235,623 3,235,623 3,235,623
IMASHINI 12,000,000
IMODOKA 5,000,000
IBIPFUNYIKISHO 2,510,000 793,760 793,760 793,760 793,760 793,760 793,760
FRIGO 1,300,000
IBICUBA 4,500,000
GUKORESHA IMODOKA
AMAVUTA Y'IMODOKA 200,000 200,000 200,000 200,000 200,000 200,000
UMULIRO NA AMAZI 200,000 200,001 200,002 200,003 200,004 200,005
ABAKOZI 740,000 740,000 740,000 740,000 740,000 740,000
INGUZANYO YISHUWE 289,219 289,220 289,221 289,222 289,223 289,224
ASOHOTSE YOSE 28,000,000 5,458,602 5,458,604 5,458,606 5,458,608 5,458,610 5,458,612
ASIGAYE - 1,498,198 2,996,394 4,494,588 5,992,780 7,490,970 8,989,158
 11. GAHUNDA Y’UKO AMAFARANGA AKORESHWA MU MWAKA
(Suite)
IBYARIBYO UKWEZI 6 UKWEZI 7 UKWEZI 8 UKWEZI 9 UKWEZI 10 UKWEZI 11 UKWEZI 12
AYINJIYE
7,490,970 8,989,158 10,487,344 11,985,528 13,483,710 14,981,890 16,480,068
AHEREWEHO
NYIRUMUSHINGA
INGUZANYO
ACURUJWE 6,956,800 6,956,800 6,956,800 6,956,800 6,956,800 6,956,800 6,956,800
14,447,770 15,945,958 17,444,144 18,942,328 20,440,510 21,938,690 23,436,868
IGITERANYO
ASOHOKA
ARANGUWE 3,235,623 3,235,623 3,235,623 3,235,623 3,235,623 3,235,623 3,235,623
IMASHINI
IMODOKA
IBIPFUNYIKISHO 793,760 793,760 793,760 793,760 793,760 793,760 793,760
FRIGO
IBICUBA
GUKORESHA IMODOKA
AMAVUTA Y'IMODOKA 200,000 200,000 200,000 200,000 200,000 200,000 200,000
UMULIRO NA AMAZI 200,005 200,006 200,007 200,008 200,009 200,010 200,011
ABAKOZI 740,000 740,000 740,000 740,000 740,000 740,000 740,000
INGUZANYO YISHUWE 289,224 289,225 289,226 289,227 289,228 289,229 289,230
ASOHOTSE YOSE 5,458,612 5,458,614 5,458,616 5,458,618 5,458,620 5,458,622 5,458,624
8,989,158 10,487,344 11,985,528 13,483,710 14,981,890 16,480,068 17,978,244
ASIGAYE
ICYITONDERWA:Muri iyi Gahunda y’imyinjirize n’imisohokere y’amafaranga ugomba kumenya ibi bikurikira :

• 1. Imyinjirize n’imisohokere y’amafaranga ikorwa nibura buri kwezi mu gihe

cy’umwaka ;
• 2. Umunsi wa mbere utangije umushinga (ari 0) Ugaragaza Igishoro
cyakoreshejwe n’ibyo wagishoyemo ; Bishoboka kuba byarahwaniyemo
icyogihe ayasigaye aba ari zero (0.) Ni nayo utangizanya ukwezi ;
• 3. Ukwezi kwa mbere ugaragaza amafaranga yinjiye n’ayasohotse hanyuma
ukareba ayasigaye ;
• 4. Ukwezi kwa kabiri uhera ku yasigaye mu kwezi kwa mbere ukongeraho
ayinjiye ugakuramo ayasohotse hakagira igisigara nicyo utangiza ukwezi
gukurikiye gutyo gutyo;
• 5. Itonde nanone / uko ubara urwunguko uba wafashe ibyacurujwe agaciro
kabyo uko byaranguwe, naho aha ufata ibyaranguwe byose bigakurwamo ;
• 6. Iyo ubara Urwunguko ukuramo Inyungu z’inguzanyo gusa, naho aha
ukuramo inyungu ku nguzanyo hiyongereyeho n’Inguzanyo (Interest + capital)
• 7. Ubwisazure ntabwo bukurwamo kuko nta mafarnga aba yasohotse.
• 8. Wibuke ko umusoro ukurwamo mu mpera z’umwaka.
12. ISESENGURAMARI RY’UMUSHINGA
Mu gutegura gahunda y’ibikorwa by’umushinga,
birumvikana ko hagomba gukorwa isesenguramari
kugira ngo umenye uko Umushinga uzaba uhagaze no
kureba uko urwunguko ruzaba ruhagaze ugereranyije
n’imbaraga n’igishoro uzaba washoyemo.
Nanone ukaba wabasha kumenya igihe igishoro
cyawe kizagarukira. Si ibyo gusa, isesengura
rizagufasha kuba wabasha guhitamo uko wakoresha
igishoro cyawe utiriwe uvunika. (Urugero kuba
wazigama igishoro cyawe muri banki bakakungukira)
cyangwa se kuyakoresha mu bindi bikorwa
bikungukira.
1.2. IBIPIMO BYIFASHISHWA MU ISESENGURAMARI
(FINANCIAL RATIOS)
• Hariho ibipimo byinshi mu isesenguramari kandi ibisobanuro byabyo bifasha
ba nyiri gikorwa kibyara inyungu gusuzuma ubuzima bw’mari bw’ikigo.
• Ibyo bipimo bis kugabanywamo ibice bitandatu by’ingenzi:
• liquidity, profitability, debt, operating performance, cash flow and
investment valuation. Interpreting financial ratios requires understanding
income statements and balance sheets.
• Amafaranga ari mu mushinga (Cash and Liquidity)
• Ibirebana n’imyenda (Debt)
• Ubwiza bw’ibikorwa by’umushinga (Operating performance)
• Amafaranga yinjira nasohoka ndetse n’isesengura ry’ishoramari (cash flow
and investment valuation.
• Gusobanura ibipimo byimari bisaba gusobanukirwa raporo z’ifoto
y’umutungo (Balance Sheet) ndetse na Raporo y’bitubya n’ibyongera imari
• https://www.readyratios.com/reference/analysis/most_important_fin
ancial_ratios.html
Top 5 Financial Ratios
The most cost commonly and top five ratios used in the financial field include:
1. Debt-to-Equity Ratio
The debt-to-equity ratio, is a quantification of a firm’s financial leverage estimated by dividing the total liabilities by stockholders’ equity. This ratio indicates the proportion of equity and debt
used by the company to finance its assets.
The formula used to compute this ratio is
Total Liabilities / Shareholders Equity
2. Current Ratio
The current ratio is a liquidity ratio which estimates the ability of a company to pay back short-term obligations. This ratio is also known as cash asset ratio, cash ratio, and liquidity ratio. A
higher current ratio indicates the higher capability of a company to pay back its debts. The formula used for computing current ratio is:
Current Assets / Current Liabilities
3. Quick Ratio
The quick ratio, also referred as the “acid test ratio” or the “quick assets ratio”, this ratio is a gauge of the short term liquidity of a firm. The quick ratio is helpful in measuring a company’s
short term debts with its most liquid assets.
The formula used for computing quick ratio is:
(Current Assets – Inventories)/ Current Liabilities
A higher quick ratio indicates the better position of a company.
4. Return on Equity (ROE)
The return on equity is the amount of net income returned as a percentage of shareholders equity. Moreover, the return on equity estimates the profitability of a corporation by revealing the
amount of profit generated by a company with the money invested by the shareholders. Also, the return on equity ratio is expressed as a percentage and is computed as:
Net Income/Shareholder's Equity
The return on equity ratio is also referred as “return on net worth” (RONW).
5. Net Profit Margin
The net profit margin is a number which indicates the efficiency of a company at its cost control. A higher net profit margin shows more efficiency of the company at converting its revenue
into actual profit. This ratio is a good way of making comparisons between companies in the same industry, for such companies are often subject to similar business conditions.
The formula for computing the Net Profit Margin is:
Net Profit / Net Sales 

Share: 
12.1. IGIPIMO KIMENYESHA IMYUNGUKIRE Y’UMUSHINGA
(RATIO DE RENTABILITE DU PROJET)

UKO BIKORWA:
URWUNGUKO/IGISHORO X100%
RESULTAT ANNUEL/ INVESTISSEMENT X100%

• Uru rugero ruragufasha guhitamo umushinga washoramo

Igishoro : 100,000 frw Urwunguko 12,000 frw

Igishoro : 45,000 frw Urwunguko 12,000 Frw
12.2. IGIHE IGISHORO KIZAGARUKIRA/ PAY BACK PERIOD/DELAI DE RECUPERATION DU CAPITAL
INVESTI

Periode Flux financiers Cumul de FF

0 4,014,439,004 4,014,439,004
1 313,377,406 3,701,061,598
2 316,924,567 3,384,137,031
3 321,001,466 3,063,135,565
4 325,687,219 2,737,448,346
5 331,072,751 2,406,375,595
6 337,262,570 2,069,113,025
7 344,376,789 1,724,736,237
8 352,553,460 1,372,182,777
9 361,951,251 1,010,231,526
10 372,752,527 637,478,999
11 385,166,888 252,312,111
12 399,435,235 (147,123,124)
13 415,834,446  
14 434,414,660  
15 456,345,894  
16 469,257,624  
Delai de Recuperation du Capital Investi/
Pay Back Period
• Le délai de récupération du capital investi (DRCI ou encore pay-back
ratio) correspond au temps nécessaire pour récupérer le capital
investi lors d’un investissement.

• Pour estimer ce délai, on établit un ratio entre le montant initial de

l'investissement et le cumul des flux de trésorerie qu'il produira. Le
DRCI est un souvent interprété comme un indicateur de risque. Voici
quelques clés pour mieux comprendre le DRCI et son utilité.
UKO BIKORWA
• A Company X Ltd is considering the investment
that costs RWF 50,000,000 and which will
generate 10,000 per year of net cash flow. The
payback period for this capital investment is 5.0
years.
• 50,000,000/10,000,000=5 Years
UKO BIKORWA:
• 11 Imyaka + 12 (252,312,111/399,435,235)
• 11 Imyaka 7.5800657 amezi
• 11 Imyaka 7 amezi + 0.580065719540
• 11 Imyaka 7 amezi + (0.58 x30)
• 11 Imyaka 7 amaezi 17 Iminsi
12.3. TAUX DE RENTABILITE INTERNE / INTERNAL RATE OF
RETURN (TRI/IRR)

• ESE BYABA ARI NGOMBWA KO NKORA UMUSHINGA CYANGWA

UWAYABITSA MURI BANKI IKANYUNGUKIRA?
• REKA DUHITEMO
UKO BIKORWA
 INVESTISSEM
p 1 2 3 4 5 6 7 8 9 10 TOTAL ENT INITIAL FF- I

1,226,7 1,326,50 1,321,88 1,347,3 1,373,2 1,399,75

Flux financier 874,280 927,470 1,133,635 41 1 5 28 80 1,373,286 7   4,668,300.00  

(1+12%)-p 0.89 0.79 0.71 0.64 0.57 0.51 0.45 0.40 0.36 0.32      

van1ff((1+20% 6,628,98 1,960,686.

)-P 778,109 732,701 804,881 785,114 756,105 674,161 606,298 549,312 494,383 447,922 7 4,668,300.00 63

(1+13%)-p 0.88 0.78 0.69 0.61 0.54 0.48 0.43 0.37 0.33 0.29     -

6,320,70 1,652,406.
ff((1+13%)-P 769,366 723,427 782,208 748,312 716,310 634,505 579,351 508,113 453,184 405,930 6 4,668,300.0 41

(1+15%)-P 0.86 0.76 0.66 0.57 0.50 0.43 0.38 0.33 0.28 0.25     -

5,835,48 (1,167,186.
FF(1+15%)-P 751,881 704,877 748,199 699,242 663,250 568,410 511,985 453,182 384,520 349,939 6 4,668,300.0 29)
   

1,652,406.
  13% 2% 41  

2,819,592.
  70  

  0.59 1.172%  
                    14.17%      
• ICYITONDERWA: Kuko amafaranga agenda
ata agaciro, Igishoro cy’amafaranga
nashoye uyu munsi ntabwo ariko
azangarukira mu myaka icumi (10 ans) niyo
mpamvu dushaka ijanisha ry’uko urwunguko
mbona ruzahuzwa n’igishoro cyanjye . Ni
irihe rero iryo janisha ?
UKO BIKORWA:
• AMAFARANGA WUNGUTSE MU MWAKA WAMBERE UWUKUBYE NA
1/(1+…%)1

• Ufata umubare w’ijanisha = umwaka wa mbere 1/(1+0,12)

(FF/(1+…%)1+FF/(1+…)²+……………….FF/(1+….%)10) – INVESTISMENT =0
UMWANZURO
• Umushinga w’ikaragiro ry’amata ufite ubushobozi buhagije
bwo kwishyura inguzanyo nta mananiza kuko rifite
umusaruro kandi n’isoko rirahari;
• Ikindi kandi n’uko n’ubwo ari umushinga mushya Inyigo y’uyu
mushinga igaragaza urwunguko kandi ruhagije;
• Kugura ibikoresho no kongera amata yo gutunganya
bizongera umusaruro kandi biheshe umushinga icyizere muri
Banki. Usibye no kongera ubushobozi, Rwiyemezamirimo
arateganya gufungura utuduka hirya no hino muri Kigali
n’ahandi.
MURAKOZE!