Different stakeholders and partners need to work together if the private sector is to drive Rwanda’s economy and GDP.
This observation comes a few weeks after Rwanda Development Board partnered with PEMANDU Associates, a global consultancy company, to implement the Rwanda Private Sector-led Transformation Program (RPTP).
Rwanda Private Sector-Led Transformation aims to fast-track private sector-led transformation by fostering collaboration and accountability between the government and the private sector.
Larvin Rengasamy, Managing Director at PEMANDU Associates said, “There is a lot of promise in the private sector. We need to get all stakeholders and partners together, if the private sector is to drive Rwanda’s economy and grow the GDP.”
He said that over the past seven weeks, RPTP has been progressive, where the private sector, ministries and government agencies have been collaborative in problem-solving and detailing of projects in an accelerated manner.
“This process is called Lab 50, and it is part of PEMANDU Associates’ Big Fast Results 8 Step Transformation methodology.”
Rengasamy added that through Lab 50, new opportunities worth more than US$6 billion, in three focus areas of agriculture, agro-processing, manufacturing, infrastructure and energy, that are catalytic for Rwanda’s future growth, have been identified and will be clearly detailed.
“The effort now would need to focus on inviting investors in a targeted and selective manner, for quality investments that can assist Rwanda in realising its ambition of achieving a high-income nation by 2050 through private sector investments.”
Desire Rusatira, Head of reinvestment and investor aftercare department at RDB, said PEMANDU is here to help and facilitate how they can address challenges in the private sector.
“What is the gap, and how can it be filled? We have the National Strategy for Transformation (NST1) that can help us reach these goals, since our mission is turning Rwanda’s economy to a private-led economy,” he said.
This is the second-week PEMANDU Associates is working together with RDB to address challenges in the private sector and how present gaps can be filled.
The consultants have partnered with the Government to implement Rwanda Private Sector-Led Transformation Program (RPTP). Key targets of RPTP are GDP contribution, job creation, private sector investments and export potential.
Source: All Africa
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