14 February 2024
Rwanda Development Board (RDB), in conjunction with PEMANDU Associates, a global consulting firm on Wednesday 14 February 2024 launched the “Inspiring Rwanda’s Private Sector Innovation: Call for Project Ideas” to seek innovative project ideas that are big, bold, transformative, strategic, and ambitious, with the intention to accelerate private sector-led growth in alignment with Rwanda’s Vision 2050.
The call for ideas is to all Rwandans, partners and friends of Rwanda; including members of the public, Government ministries and agencies, development partners, experts, the diaspora, and private sector leaders; to submit dynamic and visionary project ideas that can contribute to the country’s development.
RDB and PEMANDU will then employ the 8-step Big Fast Results© methodology to select viable project ideas using set criteria. The selected projects will be further developed during Lab sessions.
The Lab sessions will comprise extensive qualitative and quantitative analysis of market research and global trends, benchmarking exercises, requirements and success factors stocktaking, viability assessments and detailed implementation plans to ensure effective realisation of project ideas.
Each session will involve pivotal ecosystem-wide collaboration between the Government, development partners, public and private sector leaders, subject matter experts, prospective investors and idea contributors to jointly develop the ideas into bankable projects that are ready to pitch to investors.
Chief Executive Officer, Rwanda Development Board, Francis Gatare stated, “The private sector plays a pivotal role as a driver of national economic development, and with RDB’s active facilitation through resource and policy support, the sector now possesses strong endorsement towards a pathway of rapid and sustainable growth in Rwanda. This call for project ideas is a critical call to action for visionary initiatives that will spearhead rapid economic growth on a brand new scale, expand fresh emerging sectors and propel Rwanda’s national development further than ever before. With our cemented position as the heart of Africa, doing business in Rwanda will inevitably unlock your gateway to the wider African region. This is our time to build a new future for Rwanda, and for Africa.”
Joint Managing Director & Partner, PEMANDU Associates, Aida Azmi said, “Rwanda is pivoting towards a new economic model based on innovation, impact and high-value-added activities, driven largely by the private sector, as it endeavours to unlock its fullest economic potential. This proven concept was integral in the Malaysian economic transformation which saw private sector investments grow from 45% of total investments in 2010 to 80% of total investments today.
“PEMANDU Associates is excited to bring our in-depth transformation experience with the Malaysian government and more than 29 countries to date, to Rwanda. Today, we continue to be a proud partner to the Government of Rwanda and we are confident that this call for project ideas will pioneer paradigm shifts that amplify the critical role of the private sector in making Vision 2050 and the upcoming National Strategy for Transformation a reality. We look forward to developing new sectors and economic capabilities that are scalable across the continent, starting here with this call for project ideas from the Rwandan diaspora.”
Submit your project ideas at forms.office.com/r/PRdcP8q8Z0 before 21 February 2024 at 11:59 PM CAT.
