Rwanda Registered USD 1.6 Bn Worth of Investments in 2017 – RDB

The CEO of Rwanda Development Board, Clare Akamanzi

The latest figures from Rwanda Development Board (RDB) indicate that Rwanda registered investments in the worth of USD 1.67 billion in the year 2017, an increase of USD 515 million when compared to the investments (USD 1.160 billion) registered in 2016.

Rwanda is ranked by the World Bank Doing Business Report as one of the top 50 countries in terms of ease of doing business.

“Our main mission is to successfully make Rwanda the investment destination of choice in the region,” says Clare Akamanzi, RDB Chief Executive Officer.

According to RDB, the three sectors that attracted the most investments were construction and real estate, mining and lastly, infrastructure.

The largest individual investments registered last year were Bugesera Airport Company Ltd (USD 398.68 million), Ignite Power Rwanda Ltd (USD 113.84 million), Gasabo Investment Company (USD 89 million), African Panther Resources Ltd (USD 54 million) and Kigali View Hotel and Apartment Ltd (USD 53.2 million).

The five registered investments are valued at USD 708 million in total.

In terms of the origins of the investments, Foreign Direct Investment (FDI) dominated, with investments worth USD 1 billion or 62.26% of all investments registered by foreign investors.

This was followed by local investments registered worth USD 470.98 million or 28.15% of all investments registered.

Joint ventures (local and foreign investors) worth USD 160.47 million were registered; they were worth 9.59% of all total investments registered by RDB.

In comparison, in 2016, foreign investments worth USD 650 million, local investments worth USD 479. 5million and joint ventures investments worth USD 160.47 million were registered by RDB respectively.

“In the last 10 years, registered investments in Rwanda have jumped from USD 800million in 2007 to USD 1.675 billion in 2017. This is an increase of more than 100% in only a decade which is evidence that Rwanda is being seen more and more as great place to do business,” Akamanzi added.

She said Rwanda’s ambition is to create about 150,000 off-farm jobs a year, adding investments registered so far will have an immediate impact on the employment prospects of young Rwandans.

In terms of investor facilitation RDB operates a One Stop Centre for investors, which provides information and services to guide investors through the key steps of starting a business such as registration, licenses, immigration, land, utilities, environmental clearances and tax and mortgage registration services.

In terms of Aftercare Services, RDB offers assistance in ensuring that business projects are implemented free of avoidable impediments. RDB helps investors to sort out simple and complex challenges they encounter along the way and provides any guidance required.

RDB has also introduced investor engagement platforms such as the’ Investor Open Day’ every Friday as well as ‘CEO Forum’ four times a year where RDB senior management meets and engages with business leaders.

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