Goldman Sachs 10,000 WomenEntrepreneur Certificate Program

Over the course of the six-month program, participants create a detailed, actionable business plan. They are assigned to one of five groups based on industry of interest. Each group has a local faculty consultant who provides hands-on assistance and consulting as the participants put together their business plans. At the end of the program, participants present their business plans to the group and program faculty.

Upon completing the program, participants receive a certificate of achievement. Program graduates may qualify for additional support and guidance through reunions, consultations, mentoring, and support in accessing capital.*

* The program staff assists participants and graduates on developing their business proposal and loan requests, but does not fund any projects.

The Goldman Sachs 10,000 Womensm Entrepreneur Certificate Program is organized by the William Davidson Institute at the University of Michigan in cooperation with the School of Finance and Banking in Rwanda. This program, part of the Goldman Sachs 10,000 Women initiative, is designed to equip businesswomen with the knowledge and skills needed to expand a successful small to medium-sized enterprise in Rwanda.

Goldman Sachs 10,000 WomenEntrepreneur Certificate Program

Anastasie Nyirabukeye, participant in the Goldman Sachs 10,000 Women Entrepreneur Certificate Program in Rwanda

“The entrepreneurship training program taught me how to become

a professional entrepreneur. Thanks to the program, I’ve more than doubled

my customers. With the increase in sales, I can easily pay off a loan and am

ready for the next phase in my business expansion.” AnAstAsie nyirAbukeye

Program Highlights

• A teaching team with local and international faculty from Rwanda and the USA

• Teaching materials developed by experienced international staff and faculty, customized for this program

• One-on-one consulting with program faculty

• Training focuses on real-life examples with entrepreneur guest speakers, business visits, and Rwandan business case examples

• Session in industry-specific topics• Access to a network of successful

women entrepreneurs• Post-program follow-up with additional

training, consulting, and support in accessing capital*

* The program staff assists participants and graduates on developing their business proposal and loan requests, but does not fund any projects.

Program Sessions

The 31 days of training and presentations span six months.

• Introduction to Business Management and Strategy

• Operating a Business in Rwanda• Customer Care• Marketing & Public Relations• Budgeting/Management Accounting• Financial Accounting/Loans• HR/Organizational Management• Developing a Successful Business Plan• Cohort Consulting• Business Plan Presentations

Program Highlights

Program graduates may also

receive training in:

• Leadership• Negotiating• Leveraging your network• Exporting

Thirty participants are accepted for every cohort. The cohorts start in January and July. The program is held in the local language of Kinyarwanda. Applications are accepted on an open basis.

Who Should Apply Rwandan women who would like to expand their small to medium-sized enterprise.

Selection Process Program candidates are required to complete an extensive program application and attend an interview.

Program Requirements

Participants are expected to attend all nine scheduled sessions as well as the business plan presentations and gradua-tion ceremonies. The program is held in Kigali, Rwanda. Preference is given to candidates who have at least one year of senior secondary school.

Program Fee

The program is sponsored by the Goldman Sachs 10,000 Women Initiative. If admitted to the program, participants will be charged a nominal fee of 10,000 Rwandan Francs. Lodging and meals will be provided for participants living outside of Kigali. All applicants must demonstrate a financial need to attend this program. You will be asked about your financial status on the application.

Goldman Sachs 10,000 Women Initiative

This initiative aims to bring high-quality business and management education to 10,000 underserved women around the world, over the course of five years. The program operates through a network of more than 70 academic and non-profit partners that develop and deliver locally relevant coursework to the women. The program in Rwanda started in September 2008, with Goldman Sachs working in collaboration with the William Davidson Institute at the University of Michigan and the School of Finance and Banking in Kigali to provide practical business training to women in Rwanda.

Photo rightParticipants taking notes during the financial accounting session.

Photo leftProgram graduate Emelienne Nyiramana with yoga mat bags her cooperative makes for export.

Christine Murebwayire is the managing director of a cooperative that produces banana wine. Previously a primary school teacher, she started the co-op with a group of close friends in hopes of increasing her income. A widow, she raises three young children.

Since she became the managing director, the wine has become known through-out Rwanda for its delicious taste and hygienic processing. In 2010, the co-op started exporting the wine to Tanzania and negotiating trade to Kenya. Since Murebwayire attended the program, her business has doubled its sales over a two-year period.

But the wine’s popularity raised new challenges — how to expand, be more efficient, and meet the increased demand. Murebwayire said the Goldman Sachs 10,000 Women Entrepreneur Certificate Program taught her how to restructure her workforce, bookkeeping, and accounting. She also has held training sessions for the entire staff on topics she learned through the entrepreneur program.

Anastasie Nyirabukeye owns and manages a lumberyard and furniture manufacturing shop. She completed

the Goldman Sachs 10,000 Women Entrepreneur Certificate Program in February 2009. Her revenue from 2008 to 2009 grew fivefold, and she expects her 2010 revenue to be seven times the amount from 2008. Since graduation, she has received and paid off loans totaling more than $38,000 USD.

Nyirabukeye attributes the training program to her rapid business success. “The training program taught me how to become a professional entrepreneur. Because of the program, I’ve more than doubled my customers. With the increasing sales, I could easily pay off a loan and am ready for the next phase in my business expansion.”

She has found ways to increase sales and expand her business despite the slowdown in the industry. She credits the program with giving her the confidence to succeed despite difficult situations.

WDI has developed two new case studies based on the experiences of Murebwayire and Nyirabukeye. The cases — one on growth strategy and the other on how to obtain a loan — will be used in the entrepreneurship program and in other WDI entrepreneurship programs.

Christine Murebwayire is the head of Coproviba, a co-op in Rwanda that makes banana wine.

Success Stories

Within RwandaAgnes UzarerwaProgram ManagerSchool of Finance and BankingMburabuturo-GikondoB.P. 1514 Kigali, RwandaTel: +250 785.209.112Fax: +250 502.911Email: uzagnes@hotmail.com

Outside of RwandaSharolyn ArnettProgram ManagerWilliam Davidson Institute724 E. University Ave.Ann Arbor, MI 48109Tel: +1 734.763.5961Fax:+1 734.763.5850Email: sarnett@umich.edu

For more information, please contact the program managers.

www.wdi.umich.edu/ee/rwanda