AFR has embarked on a journey to understanding and addressing access to finance constraints for SMEs (including SMEs owned/led or benefitting women) in Rwanda through AFR SME Financing Facility, and the focus of this program is to develop the market system for SME finance resulting in greater number of transactions between the supply side (Financial Services Providers -FSPs) and the demand side (SMEs in productive sectors including those led or owned by women, youth, and other marginalised groups). Specifically, this program is meant support increased financial services provision to SMEs to unlock growth and jobs creation potential and increase women and youth participation in agriculture and agri-processing, light manufacturing, exports, Tourism, ICT, and logistics. The evidence on access to credit and other financing solutions in these sectors indicates they are clearly underserved yet they have the potential to contribute to significant job creation and growth of the Rwandan economy.
Project objective
To strengthen SMEs including (SMEs owned/led or benefiting women) capabilities to overcome gaps in financial practices, business growth skills and information asymmetry by enhancing technical, managerial, market knowledge, financial and non-financial capacity building in order to prepare them for appropriate financing opportunities.
Project overview/Key highlights:
Project name
SME Financing Readiness Support
Project period
2 years (Pilot Phase)
Key Project targets
Increased access and usage of appropriate financing for at least 50 SMEs in productive sectors and at the early growth stage. At least 40% women-led/owned and 20% youth-led SMEs
150 decent jobs (40% female, 20% youth) created and/or sustained
