The year 2016 has undoubtedly put Rwanda on the world map as a top African destination for most prestigious global conferences. Rwanda being one of Africa’s fastest growing economies and most secure places in Africa, it is only natural for the capital to attract more world-class activities. KORA Associates Ltd, a company which relocated its offices from Dubai, United Arab Emirates, has actively been promoting a new breed of professional Coaching practice in Rwanda. Its Kigali based entity was founded in order to meet exceeding need for efficient professional services in Human Capital Development. Its Managing Director, Mireille Karera stated that “Global Business Coaching industry is a multibillion dollar industry. Recent Market research studies on Business Coaching show a whopping figure of $12 billion contributed to the US economy.
Approximately $2 billion were attributed to Life Coaching and Self-Improvement markets. In the last three decades the Coaching industry has generated a new breed of entrepreneurs and multimillionaires.
Some high profile Coaches and Motivational Speakers include well known speakers such as Tony Robbins, John Maxwell, Les Brown, Brian Tracy, Robin Sharma etc. just to mention a few. When comparing the Coaching industry in Rwanda to that of its African peers or developed nations, there is a great gap needing to be bridged.
Provision of Coaching Services & Internationally Certified Professional Courses is still a niche area in Rwanda’s private sector.” Ms. Karera emphasized that “Over the years Rwanda has positioned itself as a strong and stable economy in Africa. Rapid economic growth requires a progressive approach in skills and capacity development. Adequate professional development is key for service-based economies to build and maintain a position of a regional hub. Our goal is to support Rwanda’s transformation and growth by offering Home-Grown Solutions and access to international best practices and high quality training from Rwanda.
Availing access to high standard on-the- job development programs right here in Kigali has been one of our priorities.Since our establishment in the country, we have been promoting the institution of a coaching culture in corporate structures. Studies show that a coaching culture improves employees’ engagement and companies retain workforce through effective talent management. The practice of internal or external coaching entails a large number of positive aspects within organizational Human Resources Management. Employees’ capabilities are harnessed through recognition of Talent and Personal Development Planning. With implementation of Executive Coaching models, Leaders & Managers develop and improve Leadership skills which directly impact employees & organizations bottom lines.”
Rwanda’s excellent business climate and good governance provide a safe space for new markets and groundbreaking ventures to flourish. According to the World Bank’s 2016 report on the ease of doing business, Rwanda is now ranked as the 2nd highest in Africa. This factor and the nation’s growth vision enable innovative approaches to take off at a fast pace. Karera elaborated on the firm’s vision to establish a professional business coaching culture in the country.
“We see multifaceted opportunities for Rwanda to emerge and shine as a country contributing to the global coaching industry. We believe that we have what it takes to contribute to Rwanda’s GDP growth through this niche industry. To put a dollar value to the profession’s typical earnings, we’ll give you standard figures recorded across the board. Typical coaching acting as keynote speakers, facilitators or motivational speakers in developed economies earn an average of $50,000-$100,000 annually. Top celebrities speakers can earn up to $250,000 per speaking engagement.
Some records show that in Africa a typical coaching & motivational speaking engagement can earn speakers between $1,500 and $10,000 per event. That depends on the size of participants and complexity of each assignment.The coaching industry also contributes to various other sectors. In addition to live events, major Professional Coaches publish books, produce Audio-Visual recorded teaching materials.
These are usually available either online or through DVDs or CDs. As you can see, the profession of a Coach feeds other sectors such as publishing and media. As a side-effect impact on the economy, more Coaches will be able to write and publish their teaching books or inspirational biographies. The knock-on effect of that is a boost of the publishing and media industries, which are also the rise in the nation. These activities usually attract international delegates wishing to be part of high profile workshops and events. This again translates into contribution to the Tourism & Hospitality industries. The Financial Services sector is by default a core beneficiary as a new stream of financial transactions takes place.
Each industry’s increase naturally translates into greater tax contributions toward our national Revenue Authorities. Having said that, to be able to secure a high paying speaking engagement and earning, there is a need for individuals to be equipped and certified as world-class Professional Coaches. Our mid-term goal for Rwanda is to produce homegrown Professional Coaches, capable of playing on a global arena. For this to happen, enrolled Coaches will need to be accredited through leading international regulatory bodies. The perspective of contributing to the country’s development in this area is both exciting and challenging at the same time. However, we have seen the rise of incredible new industries in this country for the last 22 years.
Thus we remain confident of its feasibility and success. We are grateful for the positive feedback and resonance we have received from local authorities and key corporations in the private sector. As we envision establishment of Professional Coaching Academies, we value partnerships with key stakeholders locally and globally. For this reason, we have also partnered with Innoverto FZE, a Dubai based boutique firm. INNOVERTO specializes in organizing high level training programs and celebrity events throughout the Middle East and Africa. Access to internationally acclaimed certification programs has drawn a great number of African delegates to Dubai, UAE.
The partnership between KORA and INNOVERTO now opens up an exciting new avenue for Kigali to be positioned as the hub for cutting-edge seminars and short term training programs. Kigali, now becoming the extended hub for these courses, we are already seeing a great interest from African organizations wishing to visit our nation’s capital. Through diversification of our combined services, we aim to contribute to country’s vision to become a MICE destination (Meetings, Incentives, Conferences & Events). International delegates attending KORA & INNOVERTO run workshops and courses will enjoy the same high standard facilities offered in Dubai, UAE. Kigali’s new landmark and iconic five stars hotel, Radisson Blu, Kigali Convention Center is the venue set to welcome local and international delegates”.
KORA Associates’s leadership has recently been involved in high-profile activities earlier this year. The country’s Managing Director, Mireille Karera, acted as Event Director for Global Women’s Summit on International Women’s Day, 8 th March 2016. As a new returnee Rwandan from the diaspora, she is a Certified Professional Coach, and passionate about personal development and growth. Karera said ”prior to becoming a Coach and leading KORA Associates, I enjoyed being on the receiving end of coaching during my career in the Financial Services.
In my previous employment roles I wroked in Sales & Business Development capacities for over 13 years. I can attest to the fact that coaching was a key factor to my personal development and business growth of companies that invested in their personnel’s development. Having enjoyed this advantage abroad, it is only natural for me to want Rwandan professionals to have access to these facilities.
Time has never been better for professionals and entrepreneurs to realize their potential and dreams in this nation. I believe that our country can grow its GDP size exponentially through seizing the enormous treasure of our human capital. In my opinion, a dozen of new industries, sectors and inventions are yet to spring forth from our youth and seasoned professionals. All it takes is the right mindset and a conducive enviornement to incubate new concepts and business ideas.”
Due to popular demand, registrations are limited and only open until 7th November 2016.