Rwandan Startups Can Benefit from the ASF credit Facility

Rwandan Startups Can Benefit from the ASF credit Facility

The Private Sector Federation has partnered with the African Solidarity Fund to enable Rwandan startups to access loans through ASF-supported credit facilities for investment projects.

The African Solidarity Fund is a multilateral and financial guarantee agency that was founded during the 1976 France-Africa summit in Bangui, Central Africa.

The organization has 14 members, the majority of whom are members of regional organizations like ECOWAS, SEDEAO, and COMESA. Benin, Burkina Faso, Burundi, Côte d’Ivoire, Gabon, Guinea-Bissau, Mali, Mauritius, Niger, Rwanda, Senegal, Chad, and Togo are also among them.

The organization support startups engaging in Tourism, mining, farming, telecommunications, energy, health, and transportation.

Before this collaboration, the organization had collaborated with several Rwandan financial institutions, including Bank of Kigali, BRD, and Access Bank, among others, and supported a total of 28 projects throughout the country.

Robert Bafakulera, director-general of African Solidarity Fund speaking on the partnership said that the partnership will benefit startups in the private sector.

“This partnership means a lot to the private sector, especially those affected by Covid-19, which sometimes made it harder for them to pay back the loans or get capital to startup businesses,” Robert said.

Application is open and Rwandan startups can access the credit guarantee by becoming part of the Private Sector Federation by clicking here.