WHO: African Development Bank and Private Sector Federation
WHAT: Seminar on Private Sector Development in Rwanda
WHERE: Radisson Blu Hotel & Convention Centre, Kigali, Rwanda
WHEN: Tuesday, 16th May 2023 (9:00am - 5:00pm, Kigali time)
The African Development Bank Group will organize a seminar on Private Sector Business Opportunities on 16 May 2023 in Kigali, Rwanda.
The seminar seeks to raise awareness of the Bank's activities in the Rwandan private sector community and to strengthen relations between the Bank and Rwanda.
The seminar also aims to increase the participation of the private sector in the structural transformation of the Rwandan and African economies through the sharing of the Bank Group's financing instruments, policies and operations in the private sector.
The Bank's development program focuses on providing financial and technical support to transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth. Its 2021-2025 private sector development strategy has three pillars: improving business climate, promoting access to integrated socio-economic infrastructure, and promoting enterprise development.
The seminar will also be a platform for supporting the implementation of the Bank's Rwanda Country Strategy Paper (CSP) 2022-2026. The strategy is anchored on two mutually reinforcing priority areas: strengthening physical infrastructure to enhance the productive resources, and reducing the cost of doing business, and improving skills and financial capabilities. This would foster private sector and productivity-led growth.
The Rwanda CSP is aligned with Rwanda's Vision 2050, which works to forge quality of life for all, modern infrastructure and the transformation of livelihoods for prosperity.
OBJECTIVE
The main objective of this seminar is to familiarize Rwandan economic actors with financing instruments for private sector operations available in the Bank. By bringing the Bank's private sector arm closer to the private sector operators in Rwanda and exploring areas of partnerships and financing, the efficient implementation of Bank Group development initiatives in the country will be enhanced.
In Rwanda, the African Development Bank has been more active in public-sector lending activities and less in private-sector interventions. As of May 2023, the active Bank Group's portfolio in Rwanda consisted of 26 projects with a total commitment of $1.5 billion, with only 12% of this investment in the private sector, hence this participation needs to keep growing.
Media Contact:
Moses Kazoora
Tel: +250 788357575
