Guarantee fund to boost SMEs

The government is set to allocate a ‘guarantee fund’ that will facilitate Small Medium Enterprises (SMEs). This was disclosed by John Rwangombwa the Minister of Finance and Economic Planning (MINICOFIN) during the forum that brought together Private Sector Federation (PSF) members, National Bank of Rwanda, Rwanda Revenue Authority (RRA) and the officials from MINICOFIN.

The government is set to allocate a ‘guarantee fund’ that will facilitate Small Medium Enterprises (SMEs).

This was disclosed by John Rwangombwa the Minister of Finance and Economic Planning (MINICOFIN) during the forum that brought together Private Sector Federation (PSF) members, National Bank of Rwanda, Rwanda Revenue Authority (RRA) and the officials from MINICOFIN.

Speaking at the meeting, Minister Rwangobwa said that, the government aims at ensuring the development of the private sector and SMEs.

“We are going to set a fund that will help the SMEs develop and strengthen their performance because as the government we are widening the tax base and as well as widen the market for their goods,” Rwangobwa said.

“We  shall make sure that we build viable SMEs in our country.”

He added that governement is trying the best it can to have the SMEs get supported.

During the forum, Rwangombwa noted that the government is emphasizing investment in agriculture as something that is cross-cutting in the country.

Government is still deliberating on the figure Rwangombwa said adding that the amount will be announced when the whole process is finalised.

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