The survival of any business largely depends on the managerial and entrepreneurship skills of the proprietor. With this in mind, local small-and-medium enterprises (SMEs), and well as micro-finance sector, have lately been engaged in various training initiatives to sharpen their business skills. 

Next is the training of SMEs by the Rwanda Institute of Co-operatives, Entrepreneurship and Microfinance (RICEM) to help improve their skills in business planning and management, according to Damascene Hakuzimana, senior advocacy and communications officer at the Association of microfinance Rwanda (AMIR).

Hakuzimana said the training, that starts next month, will also equip participants with expertise on how to handle financial challenges and risks. The one-week training programme is targeting people from co-operatives, entrepreneurs and the microfinance industry.

Valence Twagizihirwe, the RICEM programme manager, said the training will help enterprises, co-operatives and lending institutions become more efficient and competitive.

He added that capacity building plays a critical role in business growth, as well as strengthening the human capital to become more competitive, an ingredient that is essential in sustainable development of the private sector and economy generally.

The institute was launched last year to develop tailor-made training modules to help stakeholders enhance their skills, especially in product innovation, bookkeeping, computer studies, financial management and entrepreneurship.

In December, the institution churned out its first group of trainees who included board members of MFIs. The group trained in microfinance regulations and loan management.

business@newtimes.co.rw.