President Kagame, on Friday hosted entrepreneurs, from across the country, to thank them for their support in the recently concluded presidential elections. In his speech, the President said that the government will look into ways to facilitate further growth of the private sector, through providing low interest loans, among other strategies.
Rwanda’s private sector has, recently, been growing like never before. New businesses are being registered every other day and financial institutions have come up to support small and medium enterprises, both financially and providing the necessary expertise.
A population of 11 million in Rwanda, and over 120 million in East Africa, offers the private sector a sizeable market that can ensure rapid growth of businesses.
As the country strives to be self-sustaining, the contribution of the private sector cannot be underestimated. It is important that the companies that are making profits do not sit back and relax. They should re-invest the profits, either in expansion drives or by venturing into other businesses.
There are regular high level discussions with the private sector which have resulted into initiatives that have helped turn the country ideal into an investment destination. Rwanda has already won international accolades for promoting a favorable business environment.
With unquestionable determination, on the part of the government, to promote trade and investment, the private sector should take maximum advantage and grow their businesses. A booming private sector will not only benefit the economy, but also the businesses persons will see their profits soar.