Rwanda: Tourism entrepreneurs to benefit from COVID-19 resilience program

Rwanda's tourism sector is on the path to recovery with the introduction of a new COVID-19 resilience program called 'Komeza', a collaboration between Entrepreneurial Solutions Partners, MasterCard Foundation, and Equity Bank Rwanda. The program aims to support 120 SMEs in the tourism industry by providing them with technical assistance and up to $50,000 in financing each, to help them navigate the challenging business landscape brought about by the pandemic. CNBC Africa spoke to Charity Kabango, Director and co-Founder of ESP, to learn more about the program and its impact on the tourism entrepreneurs in Rwanda. The 'Komeza' program sets itself apart by offering a substantial amount of grant financing combined with personalized business support services to help entrepreneurs not only survive but thrive in the aftermath of the crisis. With the tourism sector being a key pillar of Rwanda's economy, the program aims to build resilience and foster growth in the industry. Through training, workshops, and one-on-one coaching, 'Komeza' will provide the necessary tools for SMEs to navigate the new business landscape and adapt to the changing market conditions. In addition to funding, the program focuses on building a strong support system for entrepreneurs to achieve their business goals and objectives. Rwanda, known for its strategic initiatives in the tourism sector, has taken steps to promote domestic tourism and attract visitors within the country's borders. By diversifying their customer base, Rwanda aims to create a sector that can withstand external shocks and reduce dependence on international travelers. The Rwanda Development Board and the government have been instrumental in encouraging domestic tourism, while also ensuring safety and promoting the country as a preferred destination. To adapt to the evolving market conditions, tourism entrepreneurs must embrace creativity and innovation in their business models. 'Komeza' will select entrepreneurs from the tourism and hospitality value chain, as well as innovators who see opportunities in the crisis and are willing to pivot their businesses. The program, spanning one year in two cohorts, will provide six months of support, coaching, training, and grants to each selected entrepreneur. Furthermore, through a partnership with Equity Bank, graduates of the program will have access to debt financing, enabling them to sustain and expand their businesses. The overarching goal of 'Komeza' is to create a vibrant and resilient tourism sector in Rwanda, with empowered entrepreneurs driving economic growth and providing new opportunities in the industry.