Rwanda : Launch of a $20 million women investment fund
The fund will support women's access to finance.'New Faces, New Voices', a pan-African group which promotes finance for women, has announced it is finalising plans for a $20 million investment fund that will support Rwandan women who have been struggling to access credit.
"There are various problems that women experience as they try to access finance; we will look at how this fund can help to resolve such challenges. We will also be looking at how the fund can be financially profitable because we will be investing people's money. It should be a way for women to invest and make profits but also a solution to other issues she may have,"
the group's president Monique Nsanzabaganwa told the New Times.
She added that the fund will be sourced from members, donors, government and other stakeholders.
"We are currently 1000 members but we started out when we were only 18. Since March, women started buying shares and, so far, the shares bought are worth about Rwf80 million (€89,000) and we encourage many more to register," she said.
Equity Bank's head of marketing and communication, Athanasie Niragira, said that women face several challenges when seeking financial services, such as a lack
of training to create business plans and the absence of collateral required by banks.