Will new initiatives turn around exports sector?

Celestin Baranyerese is a mineral exporter. The business requires huge sums of money to run smoothly. Baranyerese, also the president of the Rwanda Co-operative for Miners in Northern Province, has failed to secure funding for the venture. He says he has applied for loans from all the commercial banks in town to no avail.   “I submitted all the requirements, including certified documents from Ministry of Trade and Industry, but banks have kept a blind eye,” he says. Baranyerese is not alone; the problem is experienced by most small exporters, across all sectors. “The only thing banks keep telling us is the sector is risky for them to commit large amounts of capital.” Lack of access to affordable credit is only part of the problem, according to business analysts. The country’s export industry is still struggling with challenges, including, limited market, high taxes, poor export infrastructure and lack of skilled manpower.