Experts speak out on EDPRS report

Experts within the financial and social sectors are optimistic that the second phase of Economic Development and Poverty Reduction Strategy (EDPRS II) will greatly facilitate relevant institutions to identify and improve development challenges.Antonia Mutoro, the Executive Director of Policy Analysis and Research (IPAR) said: “EDPRS I indicators show that poverty has reduced tremendously and all the hard work must be appreciated; however, they also show that youth employment remains very low and that HIV/AIDS is still a big challenge. These gaps are now what must be focused on”. “As we are guided at IPAR by values to promote opportunity, inclusiveness and prosperity, we are grateful that EDPRS I findings give us more ability to improve the lives of ordinary Rwandans,” she added. Morris Toroitich, the Managing Director of Kenya Commercial Bank (KCB) , argued that EDPRS acts as a blueprint that will guide future economic prosperity, particularly the private sector.“The private sector, including commercial banks, now has the prerequisite to create a conducive atmosphere for businesses to thrive, basing on EDPRS findings as the backbone of confident investment,” Toroitich noted. “At KCB, we are ready and willing to expand as the economy grows and ensure that more Rwandans can access our products such as loans and saving schemes”. Toroitich’s comments were echoed by Sajeev Anand, the Managing Director of Commercial Bank of Rwanda (BCR).“EDPRS I will increase investor confidence in Rwanda because they see a country on the rise; the fact that poverty can reduce by 12 percent in only five years indicates that Rwanda is actually the frontrunner in Africa,” Anand observed.Afrique Ramba, the Deputy Director General of the Rwanda Social Security Board, warned that focus must be placed on the next phase of EDPRS to ensure sustainability. “EDPRS I was very successful and there is no reason why we should not focus on it again; as Rwanda begins EDPRS II. I suggest that we do not change much from its targets but rather look deeper into it to find solutions to some of the challenges it provided,” Ramba said. Prof Manaseh Nshuti, an economist and former Minister of Finance, believes that although EDPRS I surpassed expectations and puts Rwanda in a good position to push towards becoming a middle class economy, emphasis must be placed on substituting imports. “There are a variety of products we import which are basic for any economy to have. Industrialisation must be emphasised so that at least basic products like sugar and salt are produced locally and are able to satisfy local demand, through a sustainable import substitution strategy,” Nshuti said. “Rwanda also needs to strategically align and integrate with the rest of the world economically. We must support local industries to export more to the region and also find enough market abroad. This will improve revenues and reduce aid”. EDPRS I was implemented by up to 90 percent, according to a household survey dubbed EICV3 and a Demographic Health Survey known as DHS4. The two surveys, whose findings were released on Monday, are used as yardsticks to determine government’s performance towards poverty reduction.Zulfat Mukarubega, the proprietor of Rwanda Tourism University College (RTUC), commented: “In the past, the government was doing everything and the private sector was sleeping; but now we are witnessing a shift, where the private sector is taking a stand and performing its role to develop our economy”. Mukarubega also emphasised the fight against corruption as one of the major factors that makes government programmes trickle down to poor communities.Sina Gerard, an investor and owner of Entreprise Urwibutso Nyirangarama, a food processing company that manufacturers household products like Akabanga and Agashya Juice, commended government programmes for zeroing on the poorest people in the community. “For poverty eradication programmes to work efficiently, such as the One-Cow-per-Family and VUP, it is important to ensure that there are no diversions, focus must be put on the poorest in the communities. “As an investor, I am sure that if we work together to create jobs and produce a variety of products for the country, we will be playing our part to eradicate poverty and compliment what the government has done”

National

Experts speak out on EDPRS report