Rwanda: GAERG launches Rwf50-million investment fund for budding start-ups

Rwandan graduate Genocide survivors’ founded Groupe des Anciens Etudiants Rescapés du Génocide (GAERG) has unveiled an investment trust fund that is aimed at helping the young survivors and youth to create and grow their businesses.

A gigantic initial amount of Rwf50-million was raised from Survivors Fund (SURF) Rwanda and other donors. The fund will reportedly be utilized in businesses at multiple stages, including seed stage, early stage and late stage, as reported by The New Times.

The investment fund (labelled G-Innovation Development Fund) will consider financing either for the expansion of small to medium businesses or for small start-ups from across Rwanda. “We already have members who run small businesses but also have those who have ideas that can be turned into viable ventures. We want this Fund to invest in them,” the organization’s President, Egide Gatari said. According to him, some members can opt for poultry businesses and other small-scale trading activities.

Overall, the fund is aimed to create employment opportunities for young survivors and other youth groups. Over 50 percent of the members of the organization are currently employed. It (the organization) is comprised of over 3,000 members. It is also being revealed that Liaison Group will act as the fund manager for G-Innovation Development Fund. Since the fund is kept open-ended, it can attract investments from anyone. The plan is to generate resources from various development partners, private investors as well as members.

“We aim to mobilise about 1,000 members to invest in the Fund and we target to at least raise Rwf120 million in the first year of Fund’s operations. We also target to have 50 individual investors as well as two development partners,” Fidele Nsengiyaremye, the Fund’s Managing Trustee said.