A new Aguka Youth Fund is set to unlock opportunities for young entrepreneurs by tackling one of their biggest hurdles—limited access to affordable financing.
It was unveiled on March 27, during Youth Empowerment Day, alongside the YouthConnekt Awards 2025, which recognised outstanding youth-led businesses. The initiative highlights Rwanda’s growing bid to back youth innovation., according to its initiators.
Held under the theme Innovate4Impact, the event brought together youth, among other participants, spotlighting bold ideas, celebrating top innovators, and reinforcing the growing role of young people in driving Rwanda’s economic transformation.
The event celebrations took place simultaneously across the country, including in Kigali where hundreds of youth gathered at Kimisagara Youth Centre; in Gakenke, Kirehe, Nyamagabe and Rutsiro, bringing together young entrepreneurs, policymakers and development partners.
YouthConnekt Awards recognise top innovators
At the centre of the event was the recognition of outstanding youth-led businesses through YouthConnekt Awards 2025, where 270 winners from across the country were rewarded for their innovation and enterprise.
The winners included 41 from the City of Kigali, 62 from Eastern Province, 53 from Western Province, 47 from Northern Province and 67 from Southern Province. Each of the Kigali winners received Rwf1 million, as officials emphasised the importance of supporting young entrepreneurs to scale their ideas into sustainable businesses.
Aguka Youth Fund to expand youth’s access to finance with low-cost lending
A new financing initiative designed to expand access to capital and affordable loans for youth-led businesses, Aguka Youth Fund is expected to offer loans at an interest rate of 9 per cent with a flexible collateral requirement of 10 per cent.
The Minister of State for Youth and Arts, Sandrine Umutoni, commended the award recipients for taking initiative and making use of available opportunities.
"We congratulate those who received support today. You have shown that you do not wait for opportunities; you go out and look for them. Make good use of these opportunities, grow them, and share them with others who were not able to be here today,” she said.
"I also want to remind everyone here that opportunities are not reserved for a select few; they go to those who are prepared," she added.
Talking about the launch of the fund, she stated that it is designed to encourage young people to take bold steps in business.
"Today, we also launched the Aguka Fund, which aims to make it easier for young people to access capital through affordable loans. This is a step meant to help you take risks and expand your businesses,” she said.
Leaders urge youth to seize opportunities
Across the country, leaders used the occasion to urge young people to seize opportunities and avoid behaviours that could hinder their progress.
In Eastern Province, the Minister of Youth and Arts, Jean-Nepo Abdallah Utumatwishima, encouraged youth to be bold and take advantage of available opportunities, warning against drug abuse and harmful substances that continue to affect young people.
Leaders also highlighted emerging opportunities in sectors such as agriculture, irrigation and healthcare, calling on youth to invest and share knowledge with peers.
Platform to showcase innovation and programmes
Beyond the awards, the event served as a platform to showcase government programmes aimed at youth development, including initiatives in agrifood systems supported by partners such as AGRA—an organisation driving food system advancement in Africa.
Young entrepreneurs exhibited products ranging from handmade crafts and fashion to creative arts and publishing startups.
Young entrepreneurs share success stories
The event also featured testimonies from young entrepreneurs who have benefited from YouthConnekt programme.
Kwizera Ganza, who started a tailoring business while still in high school, shared how she grew her savings from Rwf3,000 to Rwf250,000 before winning Rwf5 million through the initiative, which helped her expand and hire two employees.
"I wouldn’t have achieved anything if I had been afraid [of undertaking a business],” she said, calling for more skills training alongside financial support for business success purposes.
Comedian Merci Ndaruhutse, founder of Gen Z Comedy and a recipient of Rwf10 million prize under the programme, also shared his journey, noting that success requires persistence and initiative.
"Opportunity will not find you at home; you have to go out and look for it,” he said, recalling how he used to pitch his Gen Z Comedy project in hotels and faced rejection before eventually finding success.
Partners reaffirm support for youth-led enterprises
Development partners reaffirmed their commitment to supporting youth-led enterprises, underscoring that young entrepreneurs are key drivers of economic transformation.
In her remarks, the UNDP Resident Representative in Rwanda, Fatmata Lovetta Sesay, described young people as innovators and job creators who are central to the country’s future.
"We do not see you just as participants. We see you as pioneers, problem-solvers and job creators who are driving economic transformation. You are the present and the future,” she said.
She observed that initiatives such as the Aguka Youth Fund will help unlock opportunities by providing not only financing but also skills and networks needed to grow businesses.
"These programmes equip young entrepreneurs with skills, resources and networks to scale their businesses and compete not only nationally but also regionally,” she said.
Ms. Sesay emphasised that investing in youth-led businesses is critical, stating that small and medium enterprises (SMEs) remain the backbone of African economies.