IFC commends CBS progress

The International Finance cooperation (IFC) has applauded the contribution by the Center for Business Solution (CBS) for the development of Rwanda’s Small and Medium Enterprises (SMEs) segment. IFC, which is the private sector body of the World Bank Group, is engaged in a partnership with the CBS— a one stop centre for all business requirements and an affiliate company to Maxinet Group Ltd to implement the SMEs Toolkit. Daniel Pate, the Head of the Commercial Department at CBS, said that the visiting IFC Vice President for Financial and Private Sector Development, Janamitra Devan, was impressed by the progress of the SMEs Toolkit. The SME Toolkit is a training package that facilitates SMEs with knowledge in accounting and finance, business planning, human resource, marketing and sales among others. The programme has so far benefited 800 entrepreneurs in various sectors countrywide “Two weeks ago Rwanda emerged the best country out of 31 countries in implementing the SME Toolkit and the business edge which the vice president needed to know,” Pate explained. The IFC official is in the country to check on the progress of the body’s programmes. “He wanted to meet with the entrepreneurs who have benefited from the SME toolkit that was launched this year,” Pate said Monday. He said Janamitra also encouraged CBS to work hard in helping the micro firms to graduate to medium enterprises. There are 70,000 micro enterprises in the country. In addition to the Toolkit, CBS also offers the business edge package which is the international range of management training products and services, specifically designed for owners and managers of SMEs. CBS also requested from IFC for more training of trainers because the demand is high with only 17 qualified trainers in the country. The business incubation centre also wishes to see the introduction of cooperate governance to the curriculum. IFC meets 80 percent of the training costs while the 20 percent is covered by the beneficiary. CBS has this year managed to get businesses access loans, most businesses are now tax compliant as well as getting into international partnerships with two South African firms. “Our mission is to try to understand our customers’ business attitude so as to be able to offer comprehensive solutions to their problems and maximize their potential,” said Pate. Ends

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IFC commends CBS progress