The role of financial players in Rwanda’s post COVID-19 recovery

Financial institutions are set to play a pivotal role in the revival of small and medium enterprises (SMEs) in the aftermath of the COVID-19 pandemic. KCB Foundation, a social arm of the KCB Group, is at the forefront of empowering entrepreneurs and fostering sustainable business practices in Rwanda. In a recent interview with CNBC Africa, Jane Mwangi, the Managing Director of KCB Foundation, shed light on the organization's initiatives and the challenges faced by SMEs in the country. With a primary focus on promoting long-term sustainability, KCB Foundation has devised strategic interventions to address the unique needs of SMEs, particularly in the informal sector, which constitutes a significant portion of Rwanda's workforce. Mwangi highlighted the key areas of support provided by the foundation, including technical skills training, access to finance, market linkages, and business incubation. By equipping entrepreneurs with the necessary tools and resources, KCB Foundation aims to empower SMEs to thrive and expand their operations. However, the onset of the COVID-19 crisis presented new challenges for small businesses, requiring immediate humanitarian assistance and loan repayment relief. Despite the unprecedented circumstances, KCB Foundation remains committed to supporting SMEs on their journey towards recovery and resilience.