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This business advisory clinic seeks to empower women entrepreneurs in Rwanda
Last month BPN and the University of Rwanda conducted a survey to measure the impact of COVID-19 on Rwandan Entrepreneurs; the subsequent report revealed necessary information for policy makers to develop targeted solutions to the unique challenges facing Rwandan SMEs. BPN themselves also decided to take action and partnered up with UN Women, the PSF Chamber of Women and Kora Coaching to launch an initiative dubbed, the Business Clinic. CNBC Africa spoke to BPN Country Director, Alice Nkulikiyinka for more.
Mon, 20 Jul 2020 15:14:17 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The survey conducted by BPN and the University of Rwanda revealed the challenges faced by SMEs in Rwanda, including a significant drop in revenues and the underutilization of digital solutions.
- The Business Clinic initiative, launched in partnership with UN Women and other organizations, aims to empower women entrepreneurs by assessing the impact of COVID-19, providing emotional support, and offering financial assistance based on the assessment results.
- BPN has also launched a grant program for SMEs to access finance under favorable conditions, in collaboration with banks like I&M bank, in an effort to bridge the gap between SMEs and the banking sector and enhance their digital capabilities.
The impact of the COVID-19 pandemic has been felt worldwide, affecting businesses of all sizes. In Rwanda, a recent survey conducted by BPN in partnership with the University of Rwanda shed light on the challenges faced by SMEs in the country. The survey, which included 150 SMEs, revealed some eye-opening findings that not only highlighted the significant drop in revenues but also showcased the resilience and willingness of entrepreneurs to find solutions and contribute to the economy. One surprising finding was the underutilization of digital solutions, indicating a need for further adoption of technology in business operations. Alice Nkulikiyinka, the Country Director of BPN, discussed these findings and the subsequent actions taken to support SMEs during these challenging times. BPN has partnered with UN Women, the PSF Chamber of Women, and Kora Coaching to launch the Business Clinic initiative, aimed at empowering women entrepreneurs in Rwanda. The first step of the initiative involves assessing the impact of COVID-19 on women-led businesses and providing them with emotional support. The ultimate goal is to help these women navigate the current crisis and beyond by offering financial support based on the assessment results. Additionally, BPN has launched a grant for SMEs to access finance under favorable conditions, in collaboration with banks like I&M bank. The initiative aims to bridge the gap between SMEs and the banking sector, providing them with the necessary knowledge and skills to leverage financial tools effectively. The Business Clinic initiative and the grant program are part of a larger strategy to support SMEs in Rwanda and help them thrive in the face of adversity. By providing women entrepreneurs with the necessary tools and resources, BPN and its partners are empowering them to overcome challenges and contribute to the country's economic growth. As SMEs continue to adapt to the changing business landscape, the focus on digital tools and innovative solutions becomes crucial. The pandemic has accelerated the need for businesses to embrace technology and explore new ways of operating. For example, a multimedia company that previously focused on event coverage has shifted its focus to online streaming, showcasing the importance of adapting to the current environment. BPN is working closely with entrepreneurs to enhance their digital capabilities and expand their online presence through e-commerce and digital banking. By equipping SMEs with the skills and knowledge needed to succeed in today's digital world, the Business Clinic initiative is paving the way for women entrepreneurs in Rwanda to thrive in the long run.
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