Businesses should form partnerships

Rwanda has reached a defining moment in its quest to achieve its medium- and long-term development goals. The country has performed exceptionally well over the past five years, surpassing the initial expectations and targets under the first phase of the Economic Development and Poverty Reduction Strategy (EDPRS). This has provided further impetus and firm conviction that the country can actually achieve more than initially envisaged in its development agenda. The government is now mobilising every resource so as to transform the country to a middle-income economy in the next eight years – thus adjusting the initial GDP capita target of $900 by 2020, to $1,240, more than twice the current GDP per capita. It is in that context that bureaucrats are now working round the clock to cut the red tape, improve coordination and bridge other existing gaps, as well as provide better working conditions for businesses – a critical player in the process. Just last week, the Rwanda Development Board cut the time it takes to register a business, from 24 to six hours; and the government has announced a shift in the education system designed to orient more students into technical and vocational schools that will offer more employable and entrepreneurial skills. While the government has done its part, the private sector, which should take a more critical role, is still not functioning optimally. Businesses need to mobilise resources, create partnerships, both local and foreign so as to play a more coordinated role. This will give them the cutting edge when addressing challenges, especially competition as well as the lack of skills and resources, issues that have slowed down or even forced companies to close.

Opinions

Businesses should form partnerships