{"id":72649,"date":"2024-05-11T15:27:08","date_gmt":"2024-05-11T15:27:08","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/access-to-finance-ife-embarks-on-technical-workshops-ahead-of-sector-open-call-for-proposals"},"modified":"2024-05-11T15:56:48","modified_gmt":"2024-05-11T15:56:48","slug":"access-to-finance-ife-embarks-on-technical-workshops-ahead-of-sector-open-call-for-proposals","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/sport\/access-to-finance-ife-embarks-on-technical-workshops-ahead-of-sector-open-call-for-proposals","title":{"rendered":"Access to Finance: IFE embarks on technical workshops ahead of sector-open call for proposals"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>In line with fostering sustainable job creation and promoting social security systems in Rwanda, the Facility Investing for Employment (IFE), established by KfW Development Bank, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) as an investment mechanism for job creation that provides co-financing grants for private and public projects in its eight African partner countries, organised a two-day technical workshops.<\/p>\n

The two-day technical workshops held on May 8-9 at Hotel des Mille Collines in Kigali, aimed at raising awareness around the forthcoming sector-open competition in Rwanda, which will see eligible applicants awarded grants.<\/p>\n

The event drew participation from diverse stakeholders, including representatives from private companies, public entities and non-profit organisations. These stakeholders convened with the shared goal of getting tips on preparing investment proposals where the key entry point is the creation of new decent jobs.<\/p>\n

Alessia Alvisini, IFE Country Manager in Rwanda and Ghana, emphasized the significance of job creation and maturity of the proposed investment projects.<\/p>\n

The technical workshops not only clarified the categories of eligible proposals, but also helped participants to understand the importance of project maturity, financial viability and partnerships to enhance the prospects<\/p>\n

She highlighted that the cost per job created must not exceed EUR 10,000. Moreover, projects promoting social benefits beyond the statutory minimum, women\u2019s employment and\/or facilitating a socially just transition to a climate-friendly economy stand to receive preferential consideration.<\/p>\n

The grant application window is scheduled to open on May the 15th, with a deadline of July the 1st, 2024. The facility offers grants ranging from EUR 650,000 to EUR 5 million per project proposal, encompassing a spectrum from purely private sector investments to public infrastructure projects.<\/p>\n

Joseph Byukusenge, representing Certitude Engineering Ltd, a local company engaged in building construction and the energy sector, lauded the training\u2019s efficacy in enlightening grant proposals. He emphasised the potential of the grants to catalyse development and employment opportunities for local businesses.<\/p>\n

Joseph Byukusenge, the Managing Director and Co-founder of Certitude Engineering, emphasized potential of the grants to catalyse development and employment opportunities for local businesses.<\/p>\n

The technical workshops not only clarified the categories of eligible proposals, but also helped participants to understand the importance of project maturity, financial viability and partnerships to enhance the prospects of success. Byukusenege articulated the transformative potential of such initiatives in bolstering local economies and fostering job creation.<\/p>\n

Previous grant recipient testifies <\/b><\/p>\n

So far, five Rwandan entities in the health, education and textile sector have signed financing agreements with IFE for grants worth more than a total of 10 million EUR.<\/p>\n

Yvette Mukarwema, CEO of Janiya Investment Ltd, which is among the five IFE grant beneficiaries and the first private company to sign a grant agreement with IFE, emphasized the accessibility of the grant application process, noting its ease of winning.<\/p>\n

However, she underscored the importance of meeting detailed conditions, such as maintaining a well-functioning business, adhering to tax obligations, ensuring fair employee compensation, and having a well-structured business plan supported by evidence, among other criteria.<\/p>\n

Mukarwema further commended the IFE for providing comprehensive guidance documents for the application process, urging individuals to assess and allocate sufficient time and resources to their projects carefully.<\/p>\n

She expressed gratitude for the grant awarded by IFE, stating that it would enable the company to produce its own fabrics instead of relying on imports. Additionally, it would allow them to sell both fabrics and finished clothing.<\/p>\n

Mukarwema elaborated on the plans for utilising the grant, mentioning infrastructure financing, including the construction of a new factory in the Muhanga Industrial Zone. She disclosed that the IFE would also cover 60% of the costs of acquiring technical machinery, essential for the new industry.<\/p>\n

The Facility IFE focuses on fostering inclusive economic growth and job creation in Rwanda, paving the way for a more prosperous and equitable future.<\/p>\n

Other new IFE grantees include Solid\u2019Africa, a local social enterprise that has made its mark in the country by providing food, hygiene and medical support to low-income patients at Rwandan public hospitals.<\/p>\n

The IFE grant, awarded in November 2023, will boost Solid\u2019Africa effort to build a training facility, the \u2018Institute of Culinary Arts\u2019 (ICAN) as an extension of the company\u2019s full industrial kitchen. The 3-floor building is designed for a maximum capacity of 300 full time students per year to host 6 different professional levels and specific courses fully compliant with applicable education sector regulation. The implementation of the project is to further onset the set-up of industrial kitchens \u2013 and thus employment of ICAN trainees \u2013 across Rwanda, to cover in-patient day-to-day nutritional meal needs of 47 district hospitals.<\/p>\n

aufitiwabo@newtimesrwanda.com<\/p>\n\r\n