The United Kingdom has announced a new £25 million (approximately Rwf37 billion) funding initiative aimed at scaling up small and medium-sized agribusinesses in Rwanda.
This significant investment was confirmed by UK Minister for Africa, Lord Collins, during his visit to the Africa Food Systems Forum 2024 in Kigali.
The funds will be channeled through AgDevCo Ventures, a funding facility that has been instrumental in supporting agribusinesses across Rwanda.
Previous UK investments through AgDevCo have already contributed to improving food security, enhancing nutrition, and creating high-quality jobs, with notable successes in companies such as Kigali Farms and Kivu Choice.
“With this new contribution, we aim to further bolster Rwanda’s agribusiness sector, providing entrepreneurs with the resources they need to innovate and grow, ultimately contributing to a more resilient food system,” Minister Collins stated at the forum.
The Africa Food Systems Forum, regarded as the premier global event for African agriculture and food systems, convenes stakeholders from across the continent to tackle critical issues such as food security, climate resilience, and sustainable agricultural practices.
The summit began on September 3 and will conclude on September 6, with Rwanda playing host to this key gathering of global leaders, policymakers, and experts.
In addition to the agribusiness funding, Lord Collins is in Rwanda for a three-day visit that will also focus on reviewing UK contributions to climate finance and sustainable cooling initiatives.
He is expected to visit Trinity Metals to observe how responsible mining practices are supporting Rwanda’s transition to green energy, in line with the country’s ambitions for environmental sustainability.
“During my visit to Rwanda, I hope to gain a deeper understanding of our relationship. Our two countries continue to collaborate on a range of important issues, including climate change and mutual prosperity,” said Collins.
While in Rwanda, Lord Collins met with President Paul Kagame.
Their discussion focused on building on the existing bilateral cooperation between Rwanda and the UK in key areas of trade and investment, environment, education and more.
He had earlier met with Minister of State, James Kabarebe, to discuss bolstering bilateral relations and addressing regional issues.
This dialogue aims to deepen cooperation in areas of shared interest, including economic development, agriculture, and environmental sustainability.
The UK’s commitment to supporting Rwanda’s agribusiness sector is another step in the growing partnership between the two nations, reinforcing mutual efforts to drive sustainable growth and development in the region.
