• New SME Growth Fund aims to improve access to long-term capital
• Initial $30 million could scale up to $100 million over time
• SMEs remain central to Rwanda’s economy but face funding constraints

Rwanda has launched a new investment fund to expand financing for small and medium-sized businesses, as part of efforts to support private sector growth.

The Rwanda Social Security Board (RSSB) introduced the SME Growth Fund on April 27. The fund starts with $30 million in capital and is expected to grow to $100 million over time. It will be managed by asset management firm Enko Capital.

David Ganesha Tetteh, Director, Catalytic Transactions, FSD Africa.

“The establishment of the Rwanda SME Growth Fund marks a major milestone in unlocking long-term, local currency financing for small and medium-sized enterprises (SMEs) in Rwanda. Despite SMEs driving over 55%… pic.twitter.com/JQIYdKtz75

— Rwanda Social Security Board (@RSSB_Rwanda) April 27, 2026

The fund will provide flexible, long-term growth capital to SMEs in local currency. It is designed to support job creation, innovation, and economic resilience. The initiative aligns with the government’s National Strategy for Transformation (NST2), a five-year plan focused on private sector-led growth.

Beyond financing, the fund will also offer technical support to help businesses scale and expand into new markets, according to Enko Capital co-founder and managing partner Cyrille Nkontchou.

Small and medium-sized enterprises play a central role in Rwanda’s economy. According to the Ministry of Trade and Industry, micro, small, and medium enterprises account for 95% of all businesses, employ more than 2.5 million people, and contribute around 55% of gross domestic product.

Despite their importance, access to financing remains a major challenge. A study by IPAR-Rwanda found that 36% of SMEs face difficulties obtaining loans, while 38% have easier access, with the rest falling in between.

With the SME Growth Fund, authorities aim to address this financing gap and support the development of the country’s business sector.

Lydie Mobio