Rwanda seeks innovative ideas to fuel private sector-led economic growth

On 15 February 2024 at 08:55

The Rwanda Development Board (RDB), in collaboration with PEMANDU Associates, a globally recognized consulting firm, have unveiled the "Inspiring Rwanda’s Private Sector Innovation: Call for Project Ideas." This initiative aims to gather innovative and transformative project ideas that will catalyze private sector-led growth, aligning with Rwanda’s Vision 2050 objectives.

The initiative is open to a wide array of contributors, including Rwandan citizens, international partners, government entities, development agencies, industry experts, the Rwandan diaspora, and leaders within the private sector. These stakeholders are encouraged to present forward-thinking and impactful project proposals that will contribute significantly to the nation’s progress.

Following the submission phase, RDB and PEMANDU will apply the 8-step Big Fast Results© methodology to filter and select project ideas based on predetermined criteria. The chosen projects will undergo further refinement during dedicated Lab sessions, which will feature a comprehensive approach to analysis, including market research, global trends, benchmarking, and viability assessments, culminating in the formulation of detailed implementation strategies.

These Lab sessions are designed to foster deep collaboration across the entire ecosystem, involving government officials, development partners, private sector figureheads, specialists, potential investors, and the original idea proponents. The goal is to evolve these ideas into viable, investor-ready projects.

Francis Gatare, the CEO of the Rwanda Development Board, emphasized the critical role of the private sector as a catalyst for national economic progress. He highlighted RDB’s commitment to supporting this sector through resources and policy initiatives, aiming to secure a future of rapid and sustainable growth for Rwanda and offering a gateway to broader opportunities within Africa.

Aida Azmi, Joint Managing Director & Partner at PEMANDU Associates, shared her enthusiasm for the project, drawing parallels with Malaysia’s economic success story driven by private sector innovation. She expressed confidence in replicating this success in Rwanda, supporting the nation’s shift towards an innovation-led economic model, and fostering the development of scalable sectors across Africa.

Interested parties are invited to submit their project ideas via an online platform before 21 February 2024 at 11:59 PM CAT.

About the Rwanda Development Board

The RDB stands as a pivotal government agency in Rwanda, dedicated to transforming the country into a vibrant hub for business, investment, and innovation. Its mission is to expedite Rwanda’s economic development by fostering private sector growth.

About PEMANDU Associates

PEMANDU Associates is a leading consulting firm specializing in public sector transformation, business revitalization, and strategic communications. The firm partners with top government and corporate leaders worldwide to achieve their strategic objectives effectively and inclusively.

Rwanda's public and private sector have convened for discussions on innovative and impactful investment opportunities in Rwanda.
RDB CEO, Francis Gatare at the launch of the Call for Projects Ideas on Wednesday.
The "Call for Project Ideas" seeks for catalytic and transformative projects that will accelerate the realisation of Vision 2050.