Experts say that low participation by youth in starting up development projects that would boost income generation is due to lack of knowledge on what services and products are demanded on the market.
This, according to Emmanuel Nzeyimana, country program Manager; DOT Rwanda results into youth failing to bring up convincing and profitable businesses that financial institutions can finance for their growth.
“The challenge is not of financial institutions which do not provide loans to the youth, the youth themselves don’t know what is on the market so that they can design profitable businesses,” he said
This comes at the time when youth that are trained in entrepreneurship complain of lack of credit to put into action their dream business while others who have already established business close due to losses.
“So what we do at DOT Rwanda is to train thee youth intermsof startup and financial literacyand provide skills to run businesses to minimize the risks that financial institutions always complain about,” Nzeyimana noted
Digital Opportunity-DOT Rwanda is a leading international social enterprise headquartered in Canada with current operations in Seven countries around the World including Rwanda.
Nzeyimana says that startup knowledge based trainings as well as financial literacywould help change revert the current situation, something that will translate into increased employment for the youth.
The government underits long term development strategy plansto create over 200,000 off farm jobs every year till 2020 especially for the youth to offsetthe unemployment gap.
Through its programStartup, DOT Rwanda equips youth with ability to develop an effective business mode that will reduce the risk of having their own startups fail.
Recently, under the Startup program, DOT Rwanda awarded certificates to 116 youth who successfully completed the program and are able to start and manage their own businesses.
“Individuals who attended this 10 week comprehensive course are those who wanted to expand their businesses or recover as they were at-risk or failed business,” Nzeyimana noted
He adds, “All these have been equipped with business skills helping them to put into reality their business ideas or scale up the existing businesses.”
Participants say that they have acquired solid idea on how they can run their businesses and also access credit from financial institutions to expand their businesses.
“Now I have knowledge on what can sell on the market but also know how to present my business proposal to banks to provide me with loan to expand my business,” Godance-Dukundimana, who trained in tailing, said
Startup is DOT entrepreneurship program that helps participants develop an effective business model that will reduce the risk of having their startup businesses fail.DOT is expecting to train over 7,500 disadvantaged Rwandan youth into employment, self-employment or further education.