CAIRO: Government has set aside funds of about Rwf400 million to cater for scientific innovations, especially in the areas of Information Communication Technology (ICT), Agriculture and Manufacturing. The fund, known as Rwanda Innovation Endowment Fund (RIEF), was initiated by the Ministry of Education in partnership with the United Nations Economic Commission for Africa (UNECA) sub regional office under the One UN Rwanda. “Rwanda's vision of becoming a knowledge-based economy will be realized through the support of extensive research and innovations in science and technology,” said the Minister of Education, Vincent Biruta. Aida Opoku Mensah, the Director ICTs and Science and Technology Division at UNECA, said that innovation today is a key driver for economic and social development even in developing countries. “Africa is not short of talented innovators and entrepreneurs. It is African innovators that are at the forefront of developing mobile money transfer systems in the developing world,” she said. “This fund will play a key role in promoting innovations that will benefit Rwandans,” he noted. Faustin Kananura Mbundu, the Chairman of Private Sector Federation, said that for the private sector to be highly-effective in terms of service provision and to be ready to realize market challenges in the region, they need this type of fund. BM Michelle Tongo
