Rwanda Social Security Board (RSSB) and Enko Capital have launched a $100 million Rwanda SME Growth Fund to provide long-term, flexible local-currency financing to small and medium-sized businesses. The fund, launched on April 27, is aligned with Rwanda’s second National Strategy for Transformation and its wider ambition to build a stronger private sector-led economy. RSSB will act as cornerstone investor with an initial $30 million commitment, while Enko Capital will manage the strategy through its Rwanda subsidiary.
The fund also includes a $3 million technical assistance facility seeded by RSSB to support businesses before and after investment, helping them improve governance and execution as they scale. SMEs account for more than 90% to 97% of businesses in Rwanda, contribute 55% of GDP, and provide over 60% of employment. Yet many remain constrained by limited bank financing, heavy collateral demands, and reliance on informal lenders. Enko Capital, which manages $1.6 billion in African assets, said the fund reflects its belief that “African development will come from African capital.”
Source : Fintech Association Of Kenya
