Global week targets 25,000 local entrepreneurs

The global entrepreneurship Week is targeting to mentor and coach some 25,000 young local entrepreneurial businesses this year, a move that will possibly support private sector growth, which is needed for Rwanda to acquire middle income status by 2020.The 2012 global entrepreneurship week will run from November 12 to 18, where different initiatives aimed at nurturing young entrepreneurs will be carried out.It comes at the back of numerous challenges to young entrepreneurs, such as access to capital as local financial institutions are still reluctant to finance start up business due what experts call high risk perception. “The challenge we have is that no one believes in any businesses by young people, they always think it will never be sustainable, yet the ideas are the same or even bigger than those of old people,” Augusto Hakizimana, a businessman in Kigali said. Babison-Rwanda Entrepreneur Centre, the institution responsible for organising the global entrepreneurship week in Rwanda says they target young people with great ideas but have been lacking mentorship and training.The instauration plans to engage, train and mentor young entrepreneurs in order to strengthen the entrepreneurship culture in the country, a viable source of new Small and Medium Enterprises (SMEs), which are much needed to drive economic growth. Eric Rutabana, the Chief Investment Officer of Business Partners International (BPI) Rwanda, believes that trainings and mentorship aimed at empowering entrepreneurs will greatly increase access to finance especially equity which is a challenge to many businessesBenjamin Cox, a Director at Babison-Rwanda Entrepreneur Centre, the institution which is responsible for organising the global week in Rwanda said, “Together, we form an energetic, innovative, and forward thinking community that is essential if we are to develop as an entrepreneurial society and solve the pressing issues around us.”With 123 participating countries, 24,000 partners, and 7.5 million people involved, the global entrepreneurship week is arguably the largest entrepreneurial movement in the world.

News

Global week targets 25,000 local entrepreneurs