PSF Rwanda CEO Stephen Ruzibiza speaks during the launch
Private Sector Federation Rwanda (PSF) in partnership with International Trade Center (ITC), through the second phase of the European Union (EU) funded, EU-East African Community (EAC) Market Access Upgrade Programme (MARKUP II), officially launched the MSME Financing Gateway in Kigali City.
MSMEs contribute to more than 50% of Rwanda’s GDP and account for over 70% of employment. However, these businesses often face significant hurdles in accessing the finance they need to grow and innovate. The MSME Financing Gateway addresses the issue of information asymmetry by providing a centralized platform that connects MSMEs with relevant financial institutions and service providers. This initiative will enable financial players to increase their market reach and propose suitable solutions for MSMEs growth.
The launch of MSME Financing Gateway in Rwanda is a significant milestone to MSMEs contribution to the economic development of their communities. It will enable beneficiaries to access a large range of financial instruments, business and sustainable development services available in Rwanda; analyze, and match their requirements, and then connect directly to providers at no cost.
The facility will help MSMEs access financing.
Mumbi Maina, Access to finance lead at ITC said that the initiative will go a long way in contributing to the targets the country has set for itself, as MSMEs play a crucial role in the economy.
“The International Trade Centre is committed to partnering with Rwanda in achieving targets set in the National Transformation Strategy, within which SMEs are a critical driver to boosting exports and creating decent work opportunities,” Maina said
“The free to use financing gateway that we launch today is a powerful tool to strengthen visibility and access of financial solutions and business support for MSMEs, supporting their resilience and growth ambitions,” she added.
Stephen Ruzibiza, CEO PSF Rwanda said the new facility will boost the number of MSMEs in Rwanda through different financing initiatives that will contribute to the growth of the sector.
“In line with the NST2 Strategy, the platform is expected to increase the number of MSMEs accessing financial services in Rwanda by end of 2027,” Ruzibiza said.
PSF Rwanda has registered major successes since its creation in 1999. Beyond a strong brand and membership base, PSF pioneered Business Development Services (BDS), registered wins in advocacy and played a strong national, regional and international role.
Members of the Private Sector were present.
The International Trade Centre (ITC) is a multilateral agency which has the joint mandate with the World Trade Organization and the United Nations through the United Nations Conference on Trade and Development.
ITC developed the MSME Financing Gateway for the East African Community (EAC) under the second phase of the EU-EAC Market Access Upgrade Programme (MARKUP) funded by the European Union.
The European Union (EU)- East African Community (EAC) MARKUP II funded by the EU, aims to enhance economic development in the EAC through sustainable intra-African and EU-Africa trade. Focused on improving livelihoods, employment, and export competitiveness for MSMEs, the program supports the development of key export-oriented value chains as well institutional support in the six MARKUP II EAC recipient partner countries. MARKUP II will promote exports and investment through addressing trade barriers, value addition, quality compliance, trade facilitation and technology transfer.
It is implemented by the International Trade Centre in collaboration with the EAC Secretariat and national partners in the recipient countries.
