RWANDA NGURIZA NSHORE ANNUAL REPORT FY 2020 October 1, 2019 – September 30, 2020 Project Period of Performance: April 2018 - 2023 This report is made possible by the support of the American people through the United States Agency for International Development (USAID). The content discussed is the sole responsibility of DAI and does not necessarily reflect the views of USAID or the US Government. Program Title: Rwanda Nguriza Nshore Sponsoring USAID Office: USAID Rwanda Contract Number: 72069618C00001 Contractor: DAI Global, LLC Contracting Officer Rep.: Fina Kayisanabo Activity Manager: Nadine Manzi, interim acting Chief of Party Date of Publication: October 30, 2020 Author: The Nguriza Nshore Team This report is made possible by the support of the American people through the United States Agency for International Development (USAID). The content discussed is the sole responsibility of DAI and does not necessarily reflect the views of USAID or the US Government CONTENT EXECUTIVE SUMMARY ...................................................................................................................................... 1 Activity Objectives ................................................................................................................................................. 3 Component I: Expand the Capacity of FIs and NBFIs to Finance SMEs and Agribusinesses ............... 4 Component 2: Increase private and commercial investment into SMEs and agribusinesses ............... 6 Component 3: Strengthen the policy environment for SMEs and agribusinesses to increase their performance and profitability .............................................................................................................................. 7 COVID-19: MARKET SYSTEM CHALLENGES AND INSIGHTS .................................................................. 8 The Impact of Covid-19 on the Financial Services Sector ........................................................................... 9 Impact of COVID-19 on the private capital ecosystem.............................................................................. 10 Impact of COVID-19 on Nguriza Nshore SME partners ........................................................................... 11 COMPONENT I: EXPAND CAPACITY OF FIs AND NBFIs TO FINANCE SMEs AND AGRIBUSINESSES ..................................................................................................................................................... 13 FY 2020 Achievements ....................................................................................................................................... 13 Highlights and Successes ..................................................................................................................................... 14 Responding to COVID-19 impact on Component 1 .................................................................................. 16 Lessons Learned and Opportunities Identified ............................................................................................. 24 Challenges and Mitigating Measures ................................................................................................................ 25 COMPONENT 2: INCREASE PRIVATE CAPITAL INVESTMENT FOR SMEs AND AGRIBUSINESSES ..................................................................................................................................................... 27 FY 2020 Achievements ....................................................................................................................................... 27 Highlights and Successes ..................................................................................................................................... 28 Responding to COVID-19 impact on Component ...................................................................................... 37 Lessons Learned and Opportunities Identified ............................................................................................. 48 Challenges and Mitigating Measures ................................................................................................................ 50 COMPONENT 3: STRENGTHEN THE POLICY ENVIRONMENT FOR SMEs AND AGRIBUSINESSES TO INCREASE PERFORMANCE AND PROFITABILITY ........................................... 53 FY 2020 Achievements ....................................................................................................................................... 53 Highlights and Successes ..................................................................................................................................... 53 Responding to COVID-19 impact on Component 3 .................................................................................. 58 Lessons Learned and Opportunities Identified ............................................................................................. 59 Challenges and Mitigating Measures ................................................................................................................ 61 CROSS CUTTING THEMES ................................................................................................................................. 62 Market Systems Development .......................................................................................................................... 62 Gender .................................................................................................................................................................... 63 Youth....................................................................................................................................................................... 64 Persons with Disabilities ..................................................................................................................................... 65 Cross Cutting Themes COVID-19 Updates ................................................................................................. 65 Lessons Learned and Opportunities Identified ............................................................................................. 65 Challenges and Mitigating Measures ................................................................................................................ 66 MONITORING, EVALUATION & LEARNING ............................................................................................... 66 Highlights and Successes ..................................................................................................................................... 66 Finalized a Suite of Nguriza Nshore Performance Monitoring Tool ....................................................... 67 Monitoring, Evaluation & Learning (MEL) COVID-19 Updates ................................................................ 70 Lessons Learned and Opportunities Identified ............................................................................................. 71 COLLABORATING, LEARNING, AND ADAPTING .................................................................................... 71 COLLABORATING ............................................................................................................................................ 71 LEARNING ............................................................................................................................................................ 73 ADAPTING ........................................................................................................................................................... 79 Collaborating, Learning & Adapting (CLA) COVID-19 Updates .............................................................. 80 COMMUNICATIONS ............................................................................................................................................. 80 Highlights and Successes ..................................................................................................................................... 80 Communications COVID-19 Updates ............................................................................................................ 85 Lessons Learned and Opportunities ................................................................................................................ 85 ENVIRONMENTAL COMPLIANCE ................................................................................................................... 86 CONSORTIUM OVERVIEW AND STRATEGIC PARTNERSHIPS ............................................................. 91 OPERATIONS AND ADMINISTRATIVE ACTIVITIES ................................................................................... 91 Development of Key Deliverables for USAID .............................................................................................. 91 Grants Management ............................................................................................................................................ 92 Staffing ..................................................................................................................................................................... 92 Financial Summary ................................................................................................................................................ 92 Operations and Administrative Activities COVID-19 Updates ................................................................ 92