An investment fund aimed at supporting small and medium-sized enterprises (SMEs) will be launched by the Rwanda Social Security Board (RSSB) by the end of February, as the institution continues to post strong asset and profit growth. The announcement was made by RSSB’s Chief Executive Officer, Regis Rugemanshuro, on January 30, during the 30th Africa Social Security Association (ASSA) Governing Council Meeting in Kigali. The meeting focused on positioning African pension and social security funds as key drivers of development and financial inclusion across the continent. By channelling resources into SMEs to improve their access to financing, the fund is expected to stimulate innovation and drive economic growth, according to RSSB. Rugemanshuro said the fund was scheduled to begin this year and would be launched soon (in February), although the exact date has not yet been disclosed. He indicated that the fund will begin with an initial capital of $30 million, with plans to gradually expand it to $100 million or more. ALSO READ: RSSB assets rise to Rwf3tn: What it means for Rwandans “This initiative aligns with the second phase of the National Strategy for Transformation (NST2), which places the private sector at the heart of economic growth,” Rugemanshuro said. “Since much of the money we use comes from the private sector, we want to reinvest it to help build that same sector. This will be managed professionally, with a dedicated fund manager.” ALSO READ: Unpacking Rwanda’s five-year development strategy: Here are the 14 goals Rugemanshuro said that a fund manager had been identified and was awaiting licensing from the Rwanda Capital Market Authority (CMA). Speaking to The New Times, the Chief Executive Officer of Private Sector Federation (PSF), Stephen Ruzibiza, welcomed the development, saying if the new fund addresses the challenges that businesses face, particularly the issue of collateral, it will be crucial, as access to funding has often been limited due to inadequate security. “For SMEs, especially those just starting, securing enough collateral to match the loan amounts they need is sometimes unrealistic,” he said. Also, he pointed out that SMEs often struggle with high interest rates, with lowest charges estimated at 14 per cent annually, while other rates in the market can go as high as 17 or 18 per cent. Meanwhile, there have been concerns regarding higher interests charged by microfinance institutions, such as Umurenge Savings and Credit Cooperatives (U-SACOs), where rates can rise as high as 24 per cent per year. Growth in RSSB assets, return on investment According to RSSB, the institution's total assets under management stood at more than Rwf2 trillion for the financial year ending June 30, 2023, and have steadily grown to Rwf3.2 trillion in 2025. This means they increased by more than 50 per cent over the last two years. Rugemanshuro also highlighted the significant improvement in RSSB’s return on investment over recent years, which has risen from 1.6 per cent around 2021 during the Covid-19 period to 15.6 per cent in 2025. RSSB indicated that its annual return on investment reached Rwf413 billion in 2025.
