Ten Rwandan Small and Medium Enterprises (SMEs) will, for the second time, pitch for financing opportunities at the Sankalp Summit where they seek to raise a combined Rwf24 billion. Billed as one of Africa’s largest events for raising capital, the forum attracts key investors and the continent’s most promising and scalable enterprises. Ten Rwandan SMEs engaged in clean energy, agriculture and finance are expected to showcase their investment opportunities in Nairobi, Kenya from February 27 to 28. The 2019 edition of the forum attracted over 440 entrepreneurs in healthcare, agriculture, clean energy, and financial technology among other sectors. Participants from Rwanda are supported by the United States Agency for International Development (USAID) through its Feed the Future Rwanda – Nguriza Nshore Project in collaboration with the Rwanda Development Board (RDB). According to officials, the participation is partly aimed at giving Rwandan companies an opportunity to approach private investment funds which offer debt, equity or a blend. It is also aimed at supporting Rwanda to become a leading regional investment destination. According to Mark Rostal, he Chief of Party at Nguriza Nshore Project, a special event has been organised at the sidelines of the summit for Rwandan SMEs to meet with investors, and so far about 75 investors have showcased interest to attend – particularly to link up with Rwandan businesses. There will also be a session where Rwandan business people will answer questions investors may have concerning investing in Rwanda. Francine Munyaneza, Founder and CEO of Munyax Eco, a solar energy company is one of the travelling Rwandan entrepreneurs. She said; “It is always a big challenge for SMEs to get financing and it is really a good opportunity for us to learn and look for money.” Munyaneza said her company is looking for $750,000 (over Rwf700 million), which she plans to largely spend on raising the skills of her employees. Julie Igiraneza, the Chief Executive Officer of Masaka Creamery, said she is seeking for capital to invest in new technology as well as expanding her business.
