NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Collins Mwai

The Rwandan business scene has grown over the last 4 years with about 800,000 Rwandan adults owning a business, the recently released 2020 FinScope Survey Report shows.

The survey established that the number of Rwandans who own businesses had grown by 200,000 from 2016.

Going by the survey’s assessment that there are 7.1M adults in the country, it means that 1 among every 9 Rwandan adults owns a business.

Though 53 per cent of the businesses are not formally registered, the report’s authors pointed out that the growth in business owners and businesses may indicate the attention given to developing the micro, small and medium business (MSMEs).

The growth of businesses and enterprise is key as small business are key contributors to job creation, value chain development as well as economic growth.

Photo courtesy of NESA by Makers.