KIGALI – Rwanda is shifting its gender equality agenda toward the private sector, with policymakers and financial leaders calling for stronger efforts to increase women’s participation in business leadership and investment.
While the country has made global strides in political representation, officials say similar progress must now be achieved in the economic sphere.
The call was made during a gender equality commemoration event hosted by the Rwanda Stock Exchange (RSE), where leaders highlighted the need for more deliberate action to close persistent gaps in economic participation.
Minister of Gender and Family Promotion, Consolée Uwimana, highlighted that Rwanda’s achievements in political inclusion should be matched by progress in the private sector.
“Rwanda is widely recognized for women’s representation in decision-making at the political level, but more needs to be done to ensure similar inclusion in business and investment,” she noted.
Despite the private sector employing close to 90 percent of the country’s workforce, women remain significantly underrepresented in key industries. They make up just 4 percent of workers in transport, 13.4 percent in construction, and 20 percent in mining.
Representation at leadership level also remains limited. Women hold approximately 32 percent of decision-making positions in the private sector and own about 34 percent of businesses, according to figures shared at the event.
Private sector’s role in closing the gap
Uwimana called for stronger collaboration between government, regulators, and businesses to unlock more opportunities for women entrepreneurs and professionals.
She urged companies to adopt clear targets for women’s representation in leadership, increase investment in women-led enterprises, and encourage girls to pursue careers in traditionally male-dominated sectors such as energy, infrastructure, ICT, and mining.
“Closing this gap requires more than commitments, it demands action. Strong partnerships between the public and private sectors will be critical in achieving Rwanda’s long-term development goals under Vision 2050,” she said.
Capital markets as a driver of inclusion
Leaders in the financial sector underscored the importance of capital markets in advancing inclusive growth. Pierre Celestin Rwabukumba, CEO of the RSE, said financial systems must play an active role in supporting women investors and entrepreneurs.
“Stock exchanges go beyond facilitating trade. They mobilize capital, enhance transparency, and influence corporate practices. Evidence shows that companies with diverse leadership tend to perform better and innovate more, making gender inclusion both a social and economic priority,” he said.
Romeo Ngarambe, Chief Executive Officer of the Capital Market Authority Rwanda, echoed these sentiments, noting that empowering women financially has ripple effects across society.
“When women are empowered economically, the benefits extend to families and communities. Studies indicate that women reinvest up to 90 percent of their income into their households and communities,” he said.
He added that ensuring capital markets are accessible and easy to understand is essential to encouraging greater participation from women, including first-time investors and entrepreneurs.
Global challenges persist
While Rwanda has made notable progress, speakers noted that gender inequality remains a global issue. Tikikel Tadele Alemu, representing UN Women, highlighted a significant financing gap that continues to hinder progress worldwide.
“An estimated $360 billion is needed annually to achieve gender equality. At the current pace, it could take more than a century to close the gap,” she said, referencing World Economic Forum estimates.
Alemu stressed that businesses and financial institutions have a crucial role to play in accelerating change by supporting women’s leadership and expanding economic opportunities.
Encouraging future women investors
The event also placed emphasis on nurturing the next generation of women investors. Students from Gashora Girls Academy of Science and Technology participated, with their investment club presenting initiatives aimed at promoting financial literacy and building an investment culture among young people, especially girls.
Officials noted that equipping young women with financial knowledge and skills is key to creating a more inclusive financial system, one where women actively participate not only as workers, but also as entrepreneurs, investors, and decision-makers.
