PSF challenged to boost export growth

Robert Bafakulera the incoming PSF chairman exchanges documents with the outgoing chairman Benjamin Gasamagera. Courtesy

Members of the Private Sector Federation (PSF) have been challenged to improve coordination and work harder in order to contribute to national development as well as exports growth.

Government officials made the call on Monday at the opening of a retreat bringing together members of PSF.

The three-day retreat is taking place in Bugesera District.

Michel M. Sebera, the Permanent Secretary at the ministry of Trade and Industry observed that PSF members are key players in national development.

“To reach the national strategy of Rwanda’s economic transformation, Vision 2020 and EDPRS2 we set export and investment goals which call for private sector involvement and good collaboration. There is need to coordinate our industry and foreign investment policies at macro and micro levels,” he told participants.

“PSF should be working with us (government) to promote not only made in Rwanda products but also to make sure that we can work together …we need to strengthen our collaboration and to work better,” he added.

He said there is need to focus on services as well as changing the mindset of people to start buying locally made products.

The government targets an annual exports growth of 28percent on average, according to official figures. Formal exports improved to 27 percent in 2016 against 24 percent which was recorded in 2015.

PSF members at the retreat in Bugesera on Monday. Courtesy

PSF upbeat

Robert Bafakulera, the incoming chairman of PSF called for tangible actions to attain the necessary economic transformation.

He noted that it was a responsibility of members to understand their mission to contribute to national development.

“We have understood responsibilities, our mission is to do profitable business and for us to do this, we need to first talk about challenges we face and how to address them,” he said.

“For the economy to grow we need to have a common ground to solve problems hindering our development,” Bafakulera said.

Alivera Mukantwari, representative of tailors said lack of materials remains their biggest challenges to boosting made in Rwanda products.

There are over 150,000 registered members of PSF but officials said there are plans to encourage more from informal sector to join cooperatives and get registered to work effectively and benefit more.