The private sector is hoping that Inspire Africa’s business competition reality show will boost efforts to promote entrepreneurship, which is seen as key in nurturing a private sector led economy.
The private sector is hoping that Inspire Africa’s business competition reality show will boost efforts to promote entrepreneurship, which is seen as key in nurturing a private sector led economy.
Faustin Mbundu, the Chairman Private Sector Federation (PSF) says that the reality show will help inspire young entrepreneurs to set up businesses needed to provide a strong backbone to the private sector.
"This programme helps us to tackle some of the obstacles we have in promoting entrepreneurship in the private sector,’ he said during the launch of the Inspire Africa’s television Business competition reality
show- Rwanda chapter.
The show that will see its grand finale held in Kigali on March 31, this year and the winner walking home with a cash prize of US$ 50,000. The show will be telecast on Rwanda Television and other television stations in the region.
Mbundu is optimistic that the programme will invigorate competitiveness among Rwandan entrepreneurs to enable them to compete within the East African region and Africa.
The Business Competition reality show is a project initiated by Inspire Africa where participants drawn from across the region present their ideas and go through business tasks. The participants are then evicted at intervals until few are left for a grand finale.
The show aims at engineering successful entrepreneurship in Africa through identifying the best business minds on the continent and supporting their entrepreneurial cause through logistical assistance, knowledge and other requisite services needed to propel them into successful business personalities.
Rwanda was represented by Esther Kunda, Clarilles Iribagiza,Tom Rwahama, Raissa Muhatwurukundo, Gaston Rurangwa and Tadeo Nyarwaya.
Clarisse Iribagiza, the proprietor of Hehe Ltd says that the youth will be challenged to set up their own businesses after being able to share their ideas with their counterparts in the region.
"I believe this show is telling us Rwandan youth that we have capacity to start our own businesses and drive the economy and be able to compete with our friends in East African region,” Tadeo Nyarwaya, one of the participants told Business Times.
The Chief Executive Officer of Inspire Africa Nelson Tugume said the purpose of creating the reality show is to create and empower a fresh generation of African entrepreneurs with practical entrepreneurial experience, while extending to them; sufficient financial head start, practical business exposure, and developmental mentorship.
"It’s time we start giving our youth and our principals a chance. We can’t achieve success by looking back,” he said adding "If we are to address 21st century challenges, we must run away from 20th century strategies and embrace 21st century approaches”.
The Permanent Secretary in the Ministry of Trade and Industry, Emmanuel Hategeka noted that the programme is in line with the current government’s efforts to boost entrepreneurship dubbed Hanga umurimo, which target new businesses.
"The challenge is probably bigger, any challenge to tackle the entrepreneurship challenges is desirable,” he noted.
Tugume noted that Rwanda was chosen to host the grand finale due to its good business environment and strategic projects to foster private sector growth in the region.