Leasing program as a tool to Empower Youth and the Nation
As most of Rwandan Youth are unemployed and have financial barriers to start their investment, various stakeholders helped six youth businesses via leasing program. Young people between 18 to 35 years old whose businesses were financed rejoiced with the leasing loan they received on June 14th 2019.
According to Yvete Benihirwe, who got material of more than 1, 7 million, said that this is an excellent approach to the youth who don’t have asset to hypothecate. “I got gazes and other materials for sell and I hope this will help me to develop, and make my family survive” She added
Sinamenye Emmanuel from Ndera Youth Cooperative and Tuyishime Sauda from Mbadukanimihigo Cooperative which operate at Remera, each received materials equivant to 3,5million and 2.6 millin respectively, are thanking AEE for their coaching and wealth creation. They commit to create jobs. They said “As we now got many materials to strengthen our businesses, it means that we we are going to give job to the surrounding Youth”.
On behalf of sponsors, the total of the leasing loan is 28 million Rwandan francs. African Evangelistic Enterprise and Amasezerano Community banking staff say “some of the beneficiaries got gazes, sewing machines, sound materials and much more”.
Jean Issac Ndayisenga, the interim Manager at Amasezerano Community banking said that through African Evangelistic Enterprise, they are inititating this kind of loan that aimed at strengthening the youth with brilliant ideas but who don’t have capital to run their businesses and most importantly those who don’t have asset to hypothecate to get bank loans.
“We will continue to make follow up to these businesses so that beneficiaries will implement their projects as agreed. We urge them to work hard and pay their loans at time. The one who work well is the one who work toward development. They have to think of the replacement of the given materials to sustain their businesses”, emphasized Issac.
This project aims at helping start up businesses and those who already started to uphold them. Moses Rubagumya, Chief of Lease it Program at AEE, explain how they equip Youth technically and link them to the bank for loan. “We give 3 days of training entitled business idea generation, and other 5 days of coaching them to write their business plan development”.
This program is supported by Inclusive Trade Initiative and other stakeholders will continue to other districts, as most of Rwandan Youth are unemployed and have financial barriers to start their investment. This loan is paid at the interest of 15% a year and it has to be paid within one and three years.