The private sector has for a long time decried the lack of finance to implement major projects. As a result, some have stalled or never been executed altogether, which hurts the economy and stifles job creation.

However, such a challenge could easily be overcome if the private sector became more open-minded and embraced joint ventures to undertake big projects like hotels, shopping malls and schools.

The co-operative movement has already shown us that we achieve more when we work together.

But this will need change of mindset, as the President said while inaugurating M. Peace Plaza and City of Kigali Hall on Monday.

With positive thinking and flexibility to embrace new ideas, local entrepreneurs can achieve more and help create much-needed jobs. Besides, private sector players can always exploit the goodwill of the government so that, together with its support, they are able to execute their projects and spur growth. 

It is essential for businesses to work together and support each other because working in isolation is always costly. Securing funding for any project can be tricky, but no bank will refuse to fund a good project.

That’s why the proprietor of M. Peace Plaza, which is now one of the largest buildings in Kigali, was able to raise $42 million (about Rwf30.4 billion) loan from the International Finance Corporation (IFC) and GT Bank to implement the project.

There are also other huge projects that are ongoing in Kigali and across the country, thanks to partnerships of this kind. Besides, the country has been able to achieve so much over the past 21 years through partnerships.

So the private sector players should have self-belief and work together to exploit the opportunities that exist in the country and help deliver the country’s economic agenda.

Remember, nothing is impossible when we believe.