New PSF boss to promote joint investment ventures

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Benjamin Gasamagera, elected PSF Chairperson

PROMOTING INVESTMENT, co-operation and job-creation are the main areas the newly-elected Private Sector Federation (PSF) chairman, Benjamin Gasamagera will focus on.

Gasamagera said he will lobby government for better policies to encourage private investment into the country.

He was speaking after he was elected on Monday in a poll where he garnered 98 votes out of 102 votes at Lemigo Hotel in Kigali.

“The job starts now because the expectations from the private sector are very high...We have to work hard as a team to create more investments and jobs,” said Gasamagera.

He said in a developing country like Rwanda, the private sector drives the economy and creates more wealth to feed this transformation.

Gasamagera replaces Alphonsine Niyigena, who has been the acting chairperson since Faustin Mbundu resigned at the beginning of this year.

He said the major challenge Rwanda’s private sector faces was working as individuals or small firms.

“We need to join hands, share our experiences and networks as well investments to do big things to accelerate production and ensure the economy becomes more vibrant.

“Working as individuals is limiting...we have to find ways through which we can impact the economy positively as a group,” Gasamagera said.

Earlier this year, a survey carried out by Entrepreneurial Solutions Partners showed that high taxes, low access and high cost of finance as well as low access and high cost of electricity was hurting the private sector.

Grace Mbabazi Mulinda, the Royal Links managing director, a clearing and forward firm in Gikondo and a member of the Chamber of Women Entrepreneurs, was optimistic that the new leader would steer the private sector to greater heights.

She applauded the former chairman, Faustin Mbundu, for promoting good corporate governance that has made PSF vibrant and accountable.