Rwanda is set to host the Commonwealth Business Forum (CBF 2022) starting on June 21, which is expected to bring together business leaders from across the 54 member states of the Commonwealth.
The forum, which is one of the flagship events of the Commonwealth Heads of Government Meeting (CHOGM), will be the first and largest in-person gathering for Governments and Business across the Commonwealth since the start of the Covid-19 pandemic. Over 1,000 delegates have confirmed attendance.
Participants will include industry leaders, venture capitalists and angel investors among other business executives and this is a rare opportunity for Rwandan businesses to make the right pitches and establish the necessary networks to grow their enterprises.
This is a great opportunity that Rwandan entrepreneurs should seize with both hands, because, besides the opportunity for capital injections through angel funders and venture capitalists, it will be a great platform for them to forge business connections.
It is equally a great opportunity to seek markets for their goods or services because the Commonwealth is an enormous market. For instance, the global exports of goods and services from member countries were worth US $ 4.3 trillion in 2021.
Similarly, intra-Commonwealth exports are projected to grow steadily over the next five years and surpass US $ 1 trillion by 2026.
For an economy that is coming out of the devastation caused by the Covid-19 pandemic, this is a much-needed shot in the arm.
It is however incumbent upon the business community to properly position themselves to benefit from hosting this important gathering. By being ready means knowing what kind of partnership that they will be looking for, and gearing up to make a compelling case to prospective partners.
Facilities like the Kigali International Financial Center will be central in facilitating some of these partnerships.