English, featured, Ibikorwa|January 12, 2013 10:28 am

SDF winners acquire financial management skills

Winners of SDF grant pose with some of the trainers

Winners of the first round of the Skills Development Fund (SDF) grants, a support by the World Bank gained financial management and procurement procedures skills.

Participants included Heads of finance and procurement departments from the 17 schools which were awarded the SDF grant worth Over Rwf500 million November 2012.

According to the SDF Project Manager Wilson Muyenzi, participants, the training was intended to help in minimizing risks of mismanagement where the beneficiaries of the SDF grants are expected to work according to both the World Bank and Rwandan laws governing financial management.

Sectors supported through this grant include Carpentry, Automotive Mechanics, Handcraft and Tailoring, Beauty and Esthetics, Building services, Manufacturing, Welding, Agriculture, Hospitality and Tourism.

Leocadie Mwenzikazi, a procurement specialist briefed the 70 participants about policies and guidelines on procurement which include open competition in order to enhance fairness and equal opportunity to suppliers or contractors.

One of the beneficiaries Beatrice Bamurange the representative of the ‘Rise and Shine women Association’ engaged in tailoring and weaving, located in Kicukiro district believes that the skills will enable participants develop more funds management and to develop a sense accountability in all undertakings. The association secured a grant of about Rwf23 million.

Livingstone Byandaga the SDF Manager emphasis on fraud, corruption and detection in sub-grant activities and asked beneficiaries to avoid them through following lawful procedures.

SDF Financial Specialist Augustine Hitimana advised the beneficiaries to guard all support documents regarding all financial transactions for any future reference.

After this training and finalizing the remaining requirements which include recruiting more experienced trainers, qualified accountants and opening special bank accounts for the fund, the next step will be releasing the funds to respective beneficiaries.