Tuesday, December 14, 2010
Goldman Sachs Uses Cases for 10,000 Women Rwanda Training Program
GlobaLens is proud to release two cases based on the experiences of two participants in the Goldman Sachs 10,000 Women Entrepreneur Program, in collaboration with the William Davidson Institute (WDI) at the University of Michigan.
The cases -- one on growth strategy and the other on how to obtain a loan --have been translated into Kinyarwanda, the native language of Rwanda, and are being used in the entrepreneurship program. You may view these cases here: Coproviba-English and here Lumberyard-English.
“There is not enough material for entrepreneurship training, particularly in emerging markets,” said Amy Gillett, executive director of WDI’s Executive Education department, which administers the program. “The challenges entrepreneurs in emerging markets face, especially women, are different than what others face. These cases specifically address those issues.”
The case study on growth strategy features Christine Murebwayire, 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 throughout 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 entrepreneurship 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.
The case study on how to obtain a loan features Anastasie Nyirabukeye, who 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 credits the training program for 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.