Rwandan and UK business networks have entered partnerships aimed at connecting entrepreneurs and small businesses with investment, market opportunities and business expertise between Rwanda, the UK and wider African markets.
Afri-Global Cooperation Programme (AGCP) on September 30 signed a memorandum of understanding with Property Power Room (PPR), a London-based network of business and property professionals.
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Through the agreement, entrepreneurs, startups and micro, small and medium enterprises (MSMEs) supported by AGCP will be connected to PPR’s network of investors and industry leaders in the UK.
The partnership will focus on investor introductions, business matchmaking, mentorship and capacity building, alongside entrepreneurship education for young people. The organisations will also work to mobilise investment for growing businesses.
According to AGCP Chief Executive Michael Nyarwaya Shyaka, the partnership is intended to strengthen links between Rwanda’s startup and talent ecosystem and UK investors, while creating opportunities in sectors such as real estate.
"Part of what we signed is to see how Rwanda can be represented in the UK and how we can support the MSME, startup and talent ecosystem,” he said.
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The partnership will also involve capacity-building programmes, conferences and seminars, as well as efforts to connect businesses with venture capital and angel investors.
Shyaka said PPR representatives are expected to visit Rwanda to explore potential investment opportunities.
"They are coming to Rwanda in November and they are looking for opportunities in real estate,” he said.
AGCP also signed a separate memorandum of understanding with Rwanda Business UK (RBUK), under which Rwandan and African entrepreneurs, startups and MSMEs will be connected to UK market opportunities, investors and mentors.
The partnership will also support UK businesses and investors seeking to enter or expand their operations in Rwanda and other African markets.
The two organisations will work together on training, financial literacy and entrepreneurship programmes for young people, while helping businesses access funding opportunities.
They will also co-host business forums and other events bringing together businesses and entrepreneurs from Rwanda and the UK.
According to Shyaka, the RBUK partnership will help create links between Rwandan businesses and UK investors.
"Rwanda Business UK is into coffee and agriculture, and what they do is mobilise investors to come and invest in Rwanda. Those investors come and invest in different sectors,” he said.
Shyaka said AGCP also wants to use the partnership to strengthen financial literacy among entrepreneurs and help them move beyond relying solely on seed capital.
"We want to see how we can work together on financial literacy,” he said.
He said AGCP has traditionally encouraged people to save before providing seed capital to help them start businesses but is now looking to expand the model by connecting businesses with private investors.
"Our responsibility is to help people save and then provide seed capital to help them start businesses. But now we are upgrading that model to bring in venture capital and angel investors from the UK, who can either become partners, buy shares or invest as angel investors,” he said.