BCR LEASE AND GO - Papyrus Company tells their story.

As one walks into the Papyrus premises, the smell of fresh wood and varnish fills the air. Rich blends of brown and cream colours meet your eyes, as you admire the beautiful pieces of furniture that are tastefully arranged in the showroom. A wall to wall kitchenette lies in one corner, a huge seating room setting in another. Each piece of furniture has a fresh, cozy look about them, clearly made for class and comfort.

“I have been a leasing client with BCR for the past two years.  “They are not just a bank to me, they are my partner in financial solutions”, said Ismael Khanabadhi, the proud co-owner and Managing Director of Rwanda’s upcoming furnishing and interior design company, Papyrus Company Ltd. After settling his business comfortably into Rwanda’s business hub, Mr. Khanabadhi seems satisfied.

Mr. Khanabadhi reflects abit on his business, over the past two years, “My brother and I had the same kind of business in Uganda and when I got here I immediately settled in with this cool and quiet country and thought- why not start the same business here?” he said. Together with his Rwandan business partner, they approached BCR and asked for an equipment lease facility that could assist him to buy better equipment for processing and producing furniture. They were introduced to the Lease and Go finance product.

“It took three to four months for money to be transferred and for equipment to be shipped in.  Initially the business made a profit of about 10 to15million Rwandan Francs and now after a two year term, I have made an increment four times more than I first injected into the business.”
He also mentioned that at the start, Papyrus was importing 1 container of raw materials every four months, and now the company imports 15 containers in one year. Today, Mr. Khanabadhi not only provides locally made furniture that is of good quality, but also at affordable prices. He stressed that this was because he didn’t have to import and assemble any of his furnishings.
“Although I have a huge market in Rwanda, about 20% of my clients are individuals, the rest are institutions. Said Mr. Khanabadhi, “The retail market still believes that furniture is expensive, because it is imported. It is about time that individuals should have a taste of good interior designs in their own homes that can be bought locally at a surprisingly cheaper price.”

When asked about how leasing has contributed to the development of the country, Khanabadhi gave a prime example of the increase in labour. “My company began with only 10-15 employees in the first year. Now, after two years, I have about 55 employees.
He proudly added, “As a professional technician with 13 years experience, I also give courses to my workers. So far, I have about three of my employees who have moved up the ladder in technical skills and are currently teaching in technical academies.”

 Jean Marie Dusabe, 23, is one of the first employees to work at PAPYRUS and is contented with the growth of the company. “I got here with no skills to use the machinery and underwent one year training which now enables me to help newcomers catch up as well,” he said.  “Work is done faster but I wouldn’t mind more machinery for extra-ordinary production. It means more business!” he added.

Plans for the Papyrus’ future? Khanabadhi plans to expand his company by opening up branches in the Northern and Southern Provinces in Rwanda. He also intends to start producing locally for export purposes to neighbouring companies.
“Business looks good, and I intend to come back to BCR for a second lease. I know how to make my company grow and leasing is a tool of success.”