The role of social enterprise in post Covid-19 economic recovery

Small and medium businesses are considered the backbone of the region's economy, but with the COVID-19 crisis wreaking havoc on these enterprises, the focus has primarily been on providing financial support. However, amidst these challenges, social enterprises play a crucial role in equipping burgeoning businesses with soft skills necessary for sustainability. Will social enterprises be left behind in the post-pandemic economic recovery, and how will this impact the growth of the SME sector? CNBC Africa delved into these questions with Noretti Turimuchi, the Executive Director at Reasonet, to gain insights into the essential contributions of social enterprises in the economic recovery process. Turimuchi emphasized the significance of supporting nonprofits at this critical juncture, highlighting their role in uplifting communities and fostering sustainable development. As the world navigates a potential economic crisis following the pandemic, ensuring the resilience and continuity of social enterprises becomes paramount. Reasonet, as a social enterprise, focuses on enhancing the self-confidence and leadership skills of women and youth in Rwanda and East Africa. By empowering these individuals, Reasonet enables them to drive positive changes in their communities and fosters economic empowerment. Turimuchi pointed out that a significant portion of the women trained by Reasonet have assumed leadership roles, started businesses, or made progress in their professional and academic endeavors. These tangible outcomes underscore the impact of investing in soft skills and leadership development for women and youth, contributing to a more robust and inclusive economic recovery post-COVID-19. In response to the ongoing crisis, Reasonet has transitioned its in-person training programs to virtual platforms, ensuring the continuity of essential soft skills development for women and youth. Despite challenges such as limited internet access in rural areas, Reasonet remains committed to delivering trainings through innovative means like radio broadcasts and video content via messaging apps. This adaptability reflects the resilience and determination of social enterprises to overcome obstacles and support vulnerable communities during these trying times. While financial assistance remains a crucial component of sustaining social enterprises, Turimuchi acknowledged the need for enhanced financial discipline and creativity to navigate the current economic landscape. Collaborations with other nonprofit organizations, social enterprises, and government entities are seen as essential in developing cohesive strategies for addressing the evolving needs of communities. By fostering partnerships and leveraging collective expertise, social enterprises can amplify their impact and effectively contribute to the recovery and growth of the SME sector. As organizations like Reasonet continue to champion the empowerment of women and youth, their dedication to building resilient communities and fostering economic prosperity remains unwavering. While challenges persist, the commitment to innovation and collaboration underscores the pivotal role of social enterprises in shaping a more inclusive and sustainable post-COVID-19 future.