By Juliet Mbabazi
On July 20th, the Rwandan government received Rwf 152 Billion from the World Bank and the European Union to create employment opportunities for the youth mainly in the areas of digital economy and tourism hospitality. The money will support job creation in the private sector by facilitating the implementation of the “Market Skills4Tourism” and “Tech Innovation/Incubation Hubs” projects.
”Equipping the workforce with the right skills for economic transformation is central to our long term development objectives, so this support will contribute to upskilling Rwanda’s workforce for long-term economic transformation,” Uzziel Ndagijimana, the minister of finance and economic planning, said in a statement while signing the financial agreement with the World Bank
“The program will address Rwanda’s needs to create employment opportunities for its youth. Activities will focus on two sub-sectors, namely the digital economy and tourism hospitality, which have the potential for rapid, sustainable private sector growth and job creation,” He added.
Skills development and employment promotion have been central to Rwanda ́s transformative vision, aiming to become an upper-middle-income country by 2035, and ultimately a high-income country by 2050. The country is making progress towards a middle-income export-oriented economy through prioritising knowledge-based industries.
According to the national institute of statistics of Rwanda (NISR), the number of employed persons increased from about 3,186,000 in February 2019(Q1) to about 3,569,000 in February 2020(Q1). However, the Rwandan government has, for the 2020-2021 fiscal year, budgeted Rwf16.2 billion on Job creation and entrepreneurship development, with the government targeting 205,500 new jobs through the National Employment Program (NEP).