Women owning businesses will easily be able to access different economic recovery funds to help revive their Covid-19-hit enterprises. 

This was disclosed during the "Gender Café,” an event organised by the UN Women Rwanda Office on Thursday December 9. It brought together different key players in the public and private financial institutions, business women among others.

Vincent Munyeshyaka, the CEO Business Development Fund (BDF), said that around 22 per cent of their economic recovery fund is being accessed by women-led enterprises, while 68 per cent is being accessed by both women and the youth. 

BDF is mandated to support the development of Small and Medium Enterprises (SMEs).

"We are trying to build partnerships with different financial institutions, so that SMEs that have been hit by the pandemic are helped, and there is a big component of the economic recovery fund meant for them, where we are injecting Rwf30 billion so we can continue to support their businesses,” he said.

Diane Karusisi, CEO Bank of Kigali said that through the financial support of the European Investment Bank (EIB), 30 per cent of the €40 million fund they received will go to women whose businesses were hit by the pandemic. 

Fabiola Mukundente, who runs a photography business, hailed the initiatives by the different institutions to help their businesses recover from the Covid-19 slowdown.

"However, there is still need for more communication and sensitisation about the accessibility of these funds to the public, because most women out here who own businesses do not know how they can access loans, funds and where to seek help especially in these difficult times,” she added.

Fatou Lo, UN Women Rwanda Representative said: "as UN women when the pandemic hit, we put in place different alternatives to help women in businesses, and as it turned out many of them were struggling financially and legally and needed support, and we started business clinics, to support them.”

She added: "This Gender Café gave a platform to the different key players from public and private financial institutions and business women so they can communicate and find a way to bridge the gaps they have identified, together.”