Today, give yourself credit for your resilience, determination, and the progress you've made so far. You are more powerful than you realize. Own your strength! ☀️
RDB would like to clarify the recent media report by @rbarwanda following the proceedings of Public Accounts Committee (PAC):
✳️ The findings were about the Rwanda Innovation Fund, a US$ 30 million pan-African venture capital fund, funded by @AfDB_Group. In June 2021, the fund started equity investments in ICT startups in and out of Rwanda.
✳️ Contrary to the media reports, this was not about RDB's procurement but the fund which invests in Rwanda, East Africa and across Africa in line with Rwanda's pan-African strategy.
✳️ To date, the fund has deployed US$ 6.6 million in 11 startups, including 4 Rwandan-based startups. More startups are currently undergoing due diligence and are receiving technical or advisory support.
✳️ The fund is a catalytic fund therefore other international investors can match or exceed @RwandaGov's equity investment in the startups. These investments are expected to generate a return and the fund is one of many programs to develop the technology and innovation ecosystem.
✳️ RDB together with other stakeholders @RwandaICT, @rwictchamber and partners are committed to continue supporting the development and growth of Rwandan startups in order to increase their competitiveness in accessing the fund designed for both local and international companies.
UPDATE: NIRDA, the Gov agency responsible for facilitating small and medium enterprises has Rwf 4,6bn ($4.3m) cash laying idle in BRD bank since 2019, say AG. The money was sourced from donors, meant to give grants to SMEs so that they can improve production and reach markets
UPDATE: Kigali City collected Rwf 388,603,725 ($350,000) from public bus travellers supposedly for internet, but the buses had no connection. Anyone taking bus pays Rwf 10 on the trip fare meant for internet. New info shows the City authorities kept this accumulated money.
@Bruce_Rukundo Of course the #cashless campaign is there to make them more money bro, despite the fact that they advertise it as "essential" to the customer