Rwandas peace and stability is key for the private sector to accelerate socio-economic development and propel the country to its growth ambitions, General James Kabarebe, the Senior Security Advisor to the President, has reiterated. Gen. Kabarebe was speaking on Monday, May 9, during the Private Sector Federation (PSF) leadership induction retreat. Today, the General said, the private sector is well positioned to lead the country’s next phase of development, but “Now that the security is guaranteed, the private sector should be aggressive in advancing the country economically. The private sector is not yet aggressive to use power and opportunities availed by the government,” Kabarebe told the PSF leaders from local to national level. The retreat is organised under the theme: “Rwanda’s Liberation Journey: Role of the private sector”, and Kabarebe reminded the participants that the aim of liberating Rwanda was to launch a journey of social-economic transformation, adding that the private sector contributed a lot to the struggle and should sustain the fight against poverty. He also encouraged business operators to fight genocide ideology in their respective operations. “A strong private sector leads the nation to a highly developed economy. It works beyond differences among the people. The treasury of Rwanda are Rwandans themselves. Rwandans contributed a lot to the successful liberation struggle that lasted four years and therefore the Rwandan private sector should play a big role in liberating Rwandans from poverty,” he said. Robert Bafakulera, the Chairman of PSF, said the second phase of liberation is fighting poverty. “This is where the private sector federation must play a big role. We are still exporting raw materials such as mineral and cash crops from which we do not generate enough revenues. We need to build factories that process and add value to our raw materials to produce finished products that can be exported,” he said. He urged the private sector to tap into investment opportunities that are available both on the local and international markets. “There are opportunities but they have not been exploited to the maximum. The private sector should closely work with banks to get capital to boost their businesses. It should develop Made-in- Rwanda brands that can sell on the international market,” Bafakulera added. He made the case for learning from one another among business people, adding that study tours across the country and beyond will bring the much-needed partnerships and exposure to expand businesses and investments.
