IFC, PSF partner to develop SMEs

The International Finance Corporation (IFC) is in partnership with the Rwanda Private Sector Federation (PSF) to build capacity to enhance the development of Small and Medium Enterprises (SMEs).

The International Finance Corporation (IFC) is in partnership with the Rwanda Private Sector Federation (PSF) to build capacity to enhance the development of Small and Medium Enterprises (SMEs).

This was revealed on Monday this week at Prime Holding where 80 small and medium entrepreneurs were attending a one day workshop on capacity building organized by both IFC and PSF.

“We are partnering with the IFC in order to help us solve the challenges that business practitioners in the country face,” said Molly Rwigamba in charge of capacity building at PSF.

The partnership seeks to improve on the quality of the products that the businesses exports in order to become more competitive on the international markets.

The workshop aims at listing down training needs and technical assistance for the SMEs. It also aims at facilitating participants with business edge modules that can help improve business performance.

Rwigamba also stressed the need for the private sector to be more competitive in the East African Community (EAC).

He added that it can only be attained through the right standards of products that Rwanda is providing.

IFC will also train business owners in human resource management, access to markets and market information as well as financial management.

“We emphasize skills development in order for the businesses to expand in this regard, we have trained 20 trainers who will train many more Rwandans hence building capacity,” said Ignace Rusengamihigo the director of IFC Rwanda.

The IFC and PSF partnership will work closely with the MAXNET Group Limited which is the sole certified partner that is responsible for managing, localizing and distributing the SME toolkit in Rwanda.

PSF, whose primary mandate is to develop the private sector, is now educating the SMEs on the importance of book keeping and financial management skills.

The umbrella body of the private businesses is now encouraging businesses to form groups of ten so that it can provide them with an accountant.

In addition, the MAXNET Group also offers expertise in trade transactions, public relations, brokerage, and foreign company representation.

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