Challenges in the sector

1. Traditional gender roles and other negative attitudes inspired by the patriarchical nature of Rwandan society prevent easy entrance to the field for women.
2. Lack of financial literacy leads to an inability to form business plans.
3. Many women lack a credit history, which makes it a lot harder to get a loan.
4. A lack of collateral and personal property forms another barrier to private and business loans.
5. There is still a gender gap in terms of financial and entrepreneurial skills and expertise.
6. Lack of access to finance inhibits entrepreneurship, and vice versa.
9. Women are quickly discouraged from entering the field; this affects their confidence.
10. Women often face trouble accessing the property of their elders.

Solutions within the sector

1. Education is of paramount importance, with financial literacy as one of the most crucial areas to develop.
2. Awareness campaigns for financial education can improve gender relations.
4. Gender-related training to bankers can change attitudes at the level of employers and leadership.
5. Consultants and mentors should be identified and encouraged to help women with business development.
6. Women and Youth Centres should be set up or expanded, so people have the chance to meet and discuss new business ideas in a safe environment.
7. Investment groups at universities could raise awareness of entrepreneurship opportunities.

Current opportunities for students to get further involved in the sector

1. Guarantee funds such as Hanga umurimo provide capital to starting entrepreneurs.
2. There are many grants available, some with specific programmes for women.
3. Advisory services from government institutions can help provide financial literacy training.
4. Young women entrepreneurs are often eager to network, mentor, and discuss topics with women and youth.
5. The Rwanda Innovation Endowment fund (RIEF) under the leadership of MINEDUC provides start-up capitals to new businesses.

Share this Story