On June 30th, 2023, Women for Women Rwanda (WfW-Rwanda) hosted its Annual Finance Fair, a remarkable event aimed at facilitating connections between women micro-entrepreneurs and new markets. The fair provided a platform for marginalized women entrepreneurs to explore potential sources of investment, partnerships, and tailored financial products and services.
With the goal of strengthening the entrepreneurial ecosystem in Rwanda, the fair fostered discussions ranging from individual-level challenges to wider changes needed within the business environment. The event brought together representatives from financial institutions, NGOs, agriculture produce exporters, policymakers, and key line ministries, offering valuable insights and opportunities for these inspiring women.
Unleashing Potential:
The 2023 edition of the finance fair embraced the participation of 125 women micro-entrepreneurs from seven districts across Rwanda, namely Nyaruguru, Muhanga, Gasabo, Kicukiro, Bugesera, Kayonza, and Rwamagana. The event proved to be a transformative experience for these women as they were exposed to various business opportunities and provided a platform to pitch their startups for capital. The presence of key line ministries, including Gender and Family Promotion (MIGEPROF) and Agriculture and Animal Resources (MINAGRI), alongside financial institutions, the private sector, and donor organizations, ensured that the women received valuable information and advice on financial services and products tailored to their unique needs.
Supporting Entrepreneurial Growth:
The Minister of Gender and Family Promotion, Prof Jeannette Bayisenge, presided over the finance fair and expressed the importance of supporting women micro-entrepreneurs in Rwanda. While commending the initiatives undertaken by Women for Women Rwanda, Minister Bayisenge emphasized the need for continued support from partners to empower women financially. She urged women entrepreneurs in agriculture to be self-confident and take full advantage of the opportunities provided by the government and its partners. Minister Bayisenge also highlighted the importance of addressing challenges such as skills development, limited market access, technology adoption, and access to capital through collaborative efforts.
“Our purpose is to support families for a better future, like Donata and her husband. Her dream of buying a car will come true, and she'll surpass it” Said Bayisenge
The Impact of Women Entrepreneurs:
Women entrepreneurs play a pivotal role in Rwanda's economy, representing 43.2% of all entrepreneurial activities in Kigali. They are instrumental in generating economic progress, combating poverty, and reducing inequalities. Studies have consistently shown that income generated by women entrepreneurs contributes significantly to their families and immediate communities. Recognizing the potential of these women, the WfW-Rwanda's "Enabling Environment for Successful Female Entrepreneurs in Rwanda" project was initiated. This project aims to connect marginalized women micro-entrepreneurs in seven districts with opportunities, resources, knowledge, skills, and partnerships, ultimately supporting their journey toward entrepreneurial success.
Success Story
Donatha Murererehe, hailing from Gikomero Sector in Gasabo District, is a testimony to the transformative power of programs like WfW-Rwanda's training. Donatha, who previously lived in poverty and lacked literacy skills, acquired business skills in agribusiness through the program. Today, she not only cultivates French beans on rented farms but has also accumulated a capital of Rwf5 million. With her newfound success, Donatha has even assisted her husband in opening a shop, contributing to the financial stability of their family.
“I'm a proud WfW-Rwanda graduate from the Gikomero sector. "My dream is to become a successful female agripreneur in our community. I'm excited to share that by 2025, I plan to buy my own car" she said
One of the significant impacts of the Annual Finance Fair is its role in narrowing the wealth inequality gap. By providing marginalized women micro-entrepreneurs with access to business connections, financial services, and tailored support, the event becomes a catalyst for addressing wealth disparities. Women entrepreneurs, who often face barriers and limited resources, are given the opportunity to expand their networks, gain exposure to new markets, and access vital financial resources. This access to opportunities helps level the playing field and promotes economic empowerment, ultimately contributing to the narrowing of the wealth inequality gap. By fostering an inclusive and supportive ecosystem, the Annual Finance Fair paves the way for greater economic equality and the realization of the full potential of women entrepreneurs.