On the first day of an historic joint United Nations/World Bank Group mission to the Great Lakes region, the World Bank Group announced $1 billion in proposed new funding to help countries in the region.

The funding will provide better health and education services, generate more cross-border trade, and fund hydroelectricity projects in support of the Great Lakes peace agreement that was signed by 11 countries in February, this year.

The announcement was made ahead of the World Bank Group’s President Dr. Jim Yong Kim, who is currently traveling with the UN Secretary General, Ban Ki-moon, on a three-day trip to the Democratic Republic of Congo (DRC), Rwanda, and Uganda,

Kim said that a secure and developed Great Lakes region was vital to Africa’s efforts to dramatically reduce extreme poverty and create prosperity for millions who have had little economic opportunity.

“We made extraordinary efforts to secure an additional $1 billion in funding because we believe this can be a major contributor to a lasting peace in the Great Lakes region,” Kim said.

“This funding will help revitalize economic development, create jobs, and improve the lives of people who have suffered for far too long. Now the leaders of the Great Lakes region, by restarting economic activity and improving livelihoods in border areas, can boost confidence, build economies, and give new opportunities for millions of people.”

Kim said the new regional pledge, in zero-interest financing from the International Development Association (IDA), will support two major regional development priorities: recovery of livelihoods to reduce the vulnerability of people living in the Great Lakes whose communities have suffered greatly during conflict in the region; and revitalizing and expanding cross-border economic activity to spur greater opportunity and integration in the areas of agriculture, energy, transport and regional trade.

The World Bank’s proposed additional funding includes roughly $100 million for supporting agriculture and rural livelihoods for internally displaced people and refugees in the region; $340 million to support the 80 megawatt Rusumo Falls hydroelectric project for Burundi, Rwanda, and Tanzania; $150 million for the rehabilitation of the Ruzizi I and II hydroelectric projects and financing for Ruzizi III, supplying electricity for Rwanda, Burundi, and DRC; $165 million toward building roads in DRC’s North and South Kivu and Province Orientale; $180 million for improving infrastructure and border management along the Rwanda-DRC border; and additional millions of dollars for public health laboratories, fisheries, and trade facilitation programs among others.

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The newly appointed World Bank Country Director, Diariétou Gaye has expressed satisfaction with the existing cooperation and partnership between Rwanda and the World Bank Group.

“It is a pleasant job to work with the Government of Rwanda, we can see the result of our work on ground” Gaye said.

Gaye made the remarks while paying a courtesy call to Rwanda’s Prime Minister, Dr. Pierre Damien Habumuremyi this 22 May 2013. Gaye is the World Bank Country Director in charge of Rwanda, Kenya and Erithrea with her office in Nairobi.

Premier pointed out that the Government is committed to work closely with the World Bank for the benefit of the people of Rwanda and appreciated the good partnership and support of the World Bank that match with the Government priorities.

In a related development, the Minister Agnes Kalibata, who also received the World Bank representative at the ministry this May 21, 2013; congratulated and welcomed her to the support of the Ministry of Agriculture & Animal Resources. She expressed her enthusiasm for working closely together in the future.

World Bank has also maintained a long relationship with Rwanda, especially with the Ministry of Agriculture & Animal Resources. Two of its most notable support projects to the agriculture sector based in Rwanda are the Rural Sector Support Project (RSSP), which began in 2001, and the Land Husbandry, Water Harvesting, and Hillside Irrigation Project (LWH), started in 2010.

Because of these World Bank interventions and collaborations, over 6,500 hectares of marshlands have been rehabilitated or developed, and about 26,000 hectares of hillsides have been sustainably developed. Yields of various crops have improved drastically, and access to markets has been improved.

Rwanda has also proved it worth with a growing economy at the rate of 8% in the last five years according to its poverty reduction strategy, despite the shortfall in donor funding. The World Bank 2013 report on Doing Business in EAC released this May 2, ranked Rwanda as the most favorable place to do business and stated that it’s much easier and faster in Rwanda to register a business than it is in any of its neighbors in the East African Community (EAC) according

The World Bank Group mission to the Great Lakes region, the World Bank Group has also announced $1 billion in proposed new funding to help countries in the region to provide better health and education services, generate more cross-border trade, and fund hydroelectricity projects.

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Rwandan exporters will continue to enjoy easy and reliable air cargo services from Kigali to Istanbul, courtesy of Turkish Airlines once the airliner launched its services in Rwanda this June 2013.

Rwanda and Turkey have continued to develop a business relationship since president Paul Kagame’s visit to Turkey that sparked-off profound business collaboration between the two countries- which also share some common aspects in culture

Turkish Airlines service started operation in Kigali, Rwanda last year adding Rwanda to their growing list of destinations, offering a service that will fly 3-4 times a week between Istanbul and Kigali during the initial launch period.

According to Burchin Isler, the Turkish airlines Country Director in Rwanda, the cargo service will enable Rwandan exporters to easily manage to access and expand their trade activities into the Europe and across Asia.

“Our job will be to facilitate business men and women to access the world markets. Our cargo plane is brand new from Airbus, with capacity of 64tons and its first air route from the manufacturer will be straight to Rwanda” he said.

Burchin noted that this program was supposed to be launched in May but due to some delays the new plane will be delivered and the services launched on June 3, 2013.

Apparently, a delegation of Twenty nine Rwandan businessmen led by Minister of Trade and Industry, François Kanimba is currently attending the Rwanda-Turkey Business Forum and Exhibition scheduled to be held in Istanbul, Turkey starting from 18th to 23nd May, 2013

Kagame’s visit to Turkey has sparked-off profound business collaboration between the two countries- which also share some common aspects in culture. Various Turkish investors, including the world class airline-Turkish Airlines, have invested in Rwanda. Other Turkish organizations and operations in Rwanda today, include education, hides and skins business among others.

Rwandans have opportunity of trading with Turkish people in areas of real estate and construction business- which is one of the highly developed sectors in turkey.

This May, 2013, the Rwandan business community has also been blessed with a cargo service that was initiated after a new agreement was signed between the Ethiopian Cargo and RwandAir, Rwanda Development Board and traders, to transport at least 30 tonnes of Rwanda’s exports to Brazzaville twice a week.

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Minister of Trade and Industry, François Kanimba requested  Turkish businessmen  to invest in Rwanda. Rwanda and Turkey, developed a profound bilateral relationship since President Paul Kagame’s visit to Turkey in 2012.

Minister Kanimba said that the Government of Rwanda has offered incentives for foreign investments that are as favorable as possible and that Turkish and Rwandan businessmen should come together to exchange ideas more often.

The Minister was addressing a Turkey-Rwanda Trade and Investment Forum, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON). A delegation of Twenty nine Rwandan businessmen led by Minister of Trade and Industry, François Kanimba attended the Rwanda-Turkey Business Forum and Exhibition held in Istanbul, Turkey starting from 18th to 23nd May, 2013.

“Rwanda stands out with its gold, tin ore, methane and hydro-electricity power potential as well as vast arable lands suitable for farming. And Turks are welcome to invest in the country”, Rwandan Trade Minister François Kanimba told a group of Turkish businessmen in İstanbul.

Rwanda-Turkey Business Forum will be the first of its kind and it comes as part of the growing business relationship between the two countries after President Paul Kagame visited the Turkish people and was introduced to some of the world’s renowned investment organizations like Tuskon, at a world economic summit that was held in Turkey in 2012.

Kagame’s visit to Turkey has sparked-off profound business collaboration between the two countries- which also share some common aspects in culture. Various Turkish investors, including the world class airline-Turkish Airlines, have invested in Rwanda. Other Turkish organizations and operations in Rwanda today, include education, hides and skins business among others.

The Tuskon Deputy Chairman Ahmet Ciğer noted that food and mining are the most promising investment fields for Turkish entrepreneurs in Rwanda.

“Ten years ago, Rwandan villagers would ask the government for food and basic necessities; today they demand better roads, improved electricity access and fast broadband,” Rwandan President Paul Kagame wrote, describing his country’s economic development in an article published in The Wall Street Journal on Sunday.

As Rwanda moves quickly to overcome the destructive impacts of the 1994 Genocide on the economy, Rwanda is looking to attract long-term foreign investments and through the Rwanda Development Board (RDB) Rwanda investment lobby, the country hopes to attain this goal and become a region hub for business.

Starting a business is much easier and faster in Rwanda, and so is registering property, than it is in any of its neighbors in the East African Community (EAC) according to the World Bank 2013 report on Doing Business in EAC released this May 2.

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Another group of about 90 students from Rwandan universities will be selected by the ministry of Agriculture, to attend internship studies at the AgroStudies, International Center for Agricultural Interns in Israel

The Minister of Agriculture and Animal Resources, Dr. Agnes Kalibata said the Rwandan students will leave for Israel beginning in the new school year, October 2013.

This announcement comes after the CEO of AgroStudies, Yaron Tamir and Head of International & Student Relations Inbal Shoval on May 20th, 2013, visited the ministry to discuss the parameters of the internship program and its benefits to the students of Rwanda.

Last year, in October 2012, a group of 30 students selected from two Rwanda Universities- ISAE Busogo and Umutara Polytechnic University were admitted to follow their internship in Horticulture in Israel.

Minister Kalibata says that the internship program comes at the perfect time; one of the biggest challenges in Rwanda and its agriculture sector is capacity development.

“This internship program will provide huge benefits to the youth of the country. As the next generation, investing in youth means ensuring a good future for Rwanda, especially for the agriculture sector, which is viewed as a high priority for the country in its development and international success,” she said

Kalibata also stated that learning from other countries and drawing from international lessons equips students with multiple perspectives and a greater ability to transform Rwanda.

The internship comes from the MOU signed between the ministry of Agricuture and Agro Studies Institution which represents the Government of Israel in July, 2012.

“Agro Studies” is the biggest institution in Israel that deals with Agriculture and has developed the sector despite the small arable land challenge that the country is facing.
Agro Studies offers the training to 500 students from 6 countries and this year the number will increase to 650 students and they accepted that among them 30 will be from Rwanda.

Agro studies offer several courses in Poultry, Aquaculture, Apiculture and Horticulture. The course they offer is divided into two programs: Theoretical class learning program  and practical training  where students go into farms for practical skills .

The program gathers students from South Asian and African countries including the Philippines, Myanmar, Laos, Cambodia, India, Vietnam, Rwanda, Togo, Borkina Faso, and Ivory Coast to Israel, offering a program that combines practical training and theoretical studies in one or more various agricultural fields.

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UN Secretary General Ban Ki-moon and the President of the World Bank Group Jim Yong Kim, make this week a historic visit to the Great Lakes region in Africa. The purpose of their visit is to show their support for the recent peace agreement and support the economic development of the region.

The duo visited DR Congo ahead of their arrival in Rwanda on May 23. They will also proceed to Uganda; and hold meetings with the each Heads of State in each of the countries respectively.

In Rwanda, a country that has made significant progress over the last ten years in governance and increased its growth rate of 1% in 2003 to 8.2% in 2013, will meet President Paul Kagame and members of the government.

They will also have the opportunity to meet with ex-combatants and to know and more about the efforts to ensure the demobilization and reintegration of all men and women who now return to their home communities after years of conflict.

“The leaders of the Great Lakes region will be key enablers of peace, stability and economic growth,” said Mr. Kim. “We are committed to us that the United Nations and the World Bank Group are working closely together in new and more advanced means, following the impetus given by the country. We must ensure that the implementation of the political and security aspects of the framework agreement goes hand in hand with economic development which is essential to a lasting peace and stability. ”

Moon also stated that this new, large-scale approach to peace provides the DRC and the Great Lakes region’s best hope of peace they have known for many years, but insisted on action.

“The commitments on paper must translate into action on the ground. A peace agreement must produce a peace dividend in the form of development, opportunity and hope for people who have suffered too long” the UN Secretary General said.

The Great Lakes region in Africa has seen its situation destabilized by the conflict that has raged for several years in the DRC and has also spread to neighboring countries. The destruction of infrastructure that resulted had the effect of reducing the supply of electricity and damage of major trade routes. This instability has also prevented the country to be able to provide all the basic services to their populations and fragile health systems and education, while causing an increase in unemployment and a slowdown in growth economic.
Despite these problems, the countries of the region are now working vigorously to ensure their reconstruction, to improve governance and to invest in their human and natural resources with the support of the United Nations and the Bank Group World.
For its part, the Bank Group is working closely with the national authorities, the private sector and international partners in these countries to support the reconstruction effort and help them achieve their development goals. To date, investments in support of development programs undertaken and totaled approximately $ 6.7 billion in the DRC, Rwanda 2.5 billion and $ 7.3 billion in Uganda.

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President Kagame speaks to a group of women during a visit to Southern Rwanda in February 2013. The President told an event at Oxford University today that accountable leadership has put the country at its current level (Photo by PPU)

President Kagame has said that his leadership style of being accountable to the people has contributed to Rwanda’s performance in development.

Speaking at Oxford University May 18, Kagame emphasised the need for “taking responsibility for what I need to take responsibility for”, adding: “I work with my team – hold them accountable and am held accountable to them.”

The President made the remarks this afternoon at the Oxford Africa Business Conference where he gave a keynote address and was later awarded the inaugural ‘Distinction of Honour for African Growth Award’ by the Oxford Business Network for Africa.

Drawing on Rwanda’s recent development trends, President Kagame said that the nation’s growth has relied on structural factors like political stability.

Now Rwanda is 5^th best place in the world to do business, as it takes only six hours to open a business in Rwanda. Rwanda targets 11.5% growth in the next 5 yrs, said the President.

He said the current government never envisaged the struggle to develop Rwanda to be anything easy, which helped to make hard, but right decisions.

Turning to education, Kagame explained how Rwanda’s education system has changed and produced more university graduates, from 2500 in 1995 to 75 000 to-date.

Brushing off sceptics

Regarding criticism about his administration, Kagame took a swipe at sceptics describing their views as not based on facts on the ground about Rwanda’s gains. “It’s not possible for positive and negative sides of Rwandan story to co-exist,” he said.

“How can providing health coverage and education to over 90% be authoritarian?,” he asked the audience of business personalities, academicians, politicians and university students.

He added that democracy and human rights are about people and Rwanda’s good record on health, education and women empowerment are indicative of Rwanda’s positive gains.

“We have focussed on the number one asset, which is our people,” he said, adding: “our people are mobilized, motivated and ready to embrace meaningful partnerships and meet their full potential.”

Aid cuts confused

The Q&A session also touched on the recent suspension of donor aid to Rwanda, that the President described as “confused”, adding that Rwanda is being blamed for the failures of the DRC government and the UN.

Several donor countries slashed aid to Rwanda amounting to about $240m, but most have already reinstated their packages to Rwanda. Rwanda criticised the alleged support to M23 rebels, as baseless and unfounded.

Recently Rwanda initiated the Agaciro Development Fund as a pool where Rwandans and well-wishers can contribute as the nation works towards self-sustainability.

Third Term talk

On speculation that he may seek a third term, President Kagame said that this is not part of his plans. “I have not even given thought to a third term,” he said.

Even as questions keep piling up on the topic, President Kagame has stated on numerous occasions that he does not intend to seek a third term come 2017 when his current term ends.

His call to the nation has centred on looking at continuity, change and stability for Rwanda.

Progress on unity and reconciliation

President Kagame also responded to questions regarding unity and reconciliation as the nation recovers from the 1994 Genocide against the Tutsi. He said that the government had opted to achieve justice and reconciliation at the same time.

Rwanda adopted Gacaca, a traditional justice system that has tried about two million cases relating to the Genocide.

Through the Unity and Reconciliation Commission, Rwandans are also encouraged to reconcile and live together.

Optimism over Africa’s potential

Talking about Africa’s development, President Kagame expressed optimism over the continent’s growth pattern, saying that what remains is how such growth can be sustained. He advised that structural changes are needed to sustain it.

Kagame predicted that about 40 African countries will gain middle income status by 2025 due to increasing stability and governance.

He said that poverty rate in Africa is falling and there is indication of a bright future for investment.

Kagame praised African countries for “charting their way forward and recognising the need for partnership”.

The Oxford Africa Business Conference was attended by academicians, business personalities and university students. President Kagame is also scheduled to attend the Rwanda Day 2013 event in London that has attracted over 3000 guests.

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Rwanda’s economic performance for the financial year 2013-2014 will not be affected by the financial uncertainties caused by the recent suspension of donor aid, according to Finance Minister, Ambassador Claver Gatete.

Tabling the tentative 2013-2014fiscal-year budget to both members of the Lower Chamber and Senate, May 14, 2013, Gatete predicted that the country’s economy will remain stable.

The budget frame work paper that has already been approved by cabinet shows that government spending will increase from Rwf1.4 trillion to 1.6 trillion in the 2013/14 fiscal year.

Addressing both chambers of Parliament, Minister Gatete noted that the provisional 2013/14 fiscal budget is aligned to the second Economic Development and Poverty Reduction Strategy (EDPRS 2).

According to the government’s resource allocation plan, Rwf808 billion, representing about 50% of the total fiscal budget, will be spent on the second Economic Development and Poverty Reduction Strategy (EDPRS 2) thematic areas. These include economic transformation, rural development, productivity and youth employment as well as accountable-governance.

Fund allocation

Most funds amounting to Rwf818.8billion (50%), have been allocated to economic transformation and poverty reduction by the year 2017.

Economic transformation was allocated Rwf511.4 billion (31%), to be used to improve agriculture, increase exports, develop infrastructure and create farm jobs through creation of secondary cities.

Rural development, with Rwf161.4 billion (10%) allocation will be channeled to integrated land approach to land use and rural settlement, increase in agriculture productivity, integrated social protection programs and connecting rural populations to economic opportunity through improved infrastructure.

While productivity and youth employment pillar will take up Rwf104.5 billion (6%) and it will be used to increase off- farm jobs, develop skills and link them to labor markets.

Apparently Rwf40.8 billion (3%) allocated to accountable governance will be used to strengthen citizen participation in delivery of development, improved accountability, service delivery and security.

The expenditure plan will also allocate Rwf676.2 billion which is equivalent to 42% of the total provisional budget to strengthen foundational issues that have already been achieved in EDPRS1. These include: macroeconomic stability, universal access to primary health, education, rule of law and proper management of public funds among others.

However for the above allocations to be expedited properly, the budget has allocated Rwf32 billion (8% of total provisional budget) for support functions such as coordination, diplomatic activities among others.

Issues at hand

Members of both parliaments probed the finance ministry for assurance on mechanisms of how the country has and will fair especially at the time when the donor countries have suspended aid to Rwanda.

The minister said that the country has managed to cushion the financial hiccup since 2012 and besides the untimely aid cuts and world economic crunk, Rwanda has survived the test and its economy has instead grown to 8%.

Gatete also noted that the government has managed this turmoil, by selling it government treasury bills- which were bid for over $400million and the development programs have continued to be implemented at a good pace (80%), while more organizations like the World Bank have chipped in along with other donor communities like China.

The parliament also probed the ministry on the issue of increasing complaints from the business community on high taxations rates, which have allegedly resulted to some business operators either withdrawing or threatening to pull out of business.

However, the minister said that the taxes have been essential in absorbing the economic shocks, but there are more constraints that have surrounded the taxations bill, since Rwanda is a landlocked country.

Gatete said that this year’s fiscal budget will focus on increased exportation to cover the gap created by the dependence on imports from other countries.

In a related development, the World Bank on May 14, 2013 approved a grant of US$50 million to support Rwanda’s efforts to improve decentralised service delivery. Rwanda is also expecting some more financial support from other countries, such as China- that will enable the country to work within its budgets targets.

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The two year technical assistance program was launched by the minister of Education, Albert Nsengiyumva, at Serena Hotels Kigali, on May 9, 2013. The minister was accompanied by the RDB Head of Tourism and Conversation Rica Rwigamba, and other Serena Hotels Africa delegates.

Charles Muia, the Country Manager of Serena Hotels-Kigali said that the move marks a significant step in the hotels internal talent and skills improvement agenda and Serena will provide training to at least five persons in each of the tourism and hospitality institutions in the country.

The program will also benefit Rwanda’s dynamic hospitality industry by identifying, mentoring and developing young people from selected hospitality institutions, and by working with students from hospitality colleges, the program will give opportunity to local talent development.

Selected students will by trained by Lobster Ink, s South African firm specializing in training hotel staff, and acquire English language skills courtesy of the British Council. The targeted institutions include: Rwanda Tourism University College, Akilah Institute for Women, New Hope Technical institute, Kigali Catering Center and Esther’s AID.

“Serena hotels places great importance in human resource development, and as a growing employer of young people in East Africa, we recognize the critical role of youths in Africa’s development. We are hopeful that this program will enable us to achieve this goal” S

The RDB Head of Tourism and Conversation, Rica Rwigamba said that skills development is very vital in the hospitality sector and this program will particularly benefit the Rwandan community and if the project is taken seriously by the beneficiaries, the tourism sector will grow to the desirable level.

While the State Minister of education, Albert Nsengiyumva stated that the management of the development is very crucial and it is not something to be neglected since the country is in dire need of capacity building and has relied on imported manpower.

“Can we rely on the other people each time? Definitely no. this is a development which am proud to be part of because it will bridge the gap in skills in the sector. The demand for skills is very crucial and we need to respond to the shortage by training now and in the future”

The project comes after a series of meetings to enhance the skills development and establishment of stakeholders in the sector.

The minister said that skills development needs shared efforts and it is not an issue of competition; and the government has taken the initiative of creating a working ground for stakeholders to expand the skills of the existing institutions in the hospitality sector.

The question is sustainability after the two years. How will Rwanda ensure that these skills are extended to the entire Rwandan community? The minister said that there is need to encourage such skills taught in schools at an early stage, so that the community develops a culture of customer care and service delivery.

The issue of customer care has been a topic of debate for most Rwandans today. Many believe that the level of service delivery is still very lower in standards, compared to other countries in the region, an issue that has cost the country.

Despite efforts of the government calling on the private sector to improve its services, the problem of poor customer care in Rwanda is believed to be costing the country over US$ 40 million annually, according to survey by World Economic Forum on the regional travel and tourism competitiveness.

“We will train until we get to the best standards. This is not going to stop here and we are not about to give up on the program of improving customer care in Rwanda” Muia said.

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The Baseline Profitability Index (BPI), published by the Foreign Policy Magazine, has ranked Rwanda among the top 10 countries best destination for investment in the world.

The report puts Hong Kong in the first position with 1.23 BPI value, followed by Botswana (1.22). Taiwan (1.21), and Singapore (1.19), third and fourth, respectively, and Rwanda in the fifth- with 1.18 BPI value out of 102 countries surveyed across the world.

Though Hong Kong and Singapore, regularly top indexes like the World Bank’s Doing Business rankings and the World Economic Forum’s Global Competitiveness Reports, three African countries- Botswana, Rwanda, and Ghana; have managed to surface in BPI report.

Why Rwanda?

Rwanda has put its focus on investment promotion and attracting as many investors –both local and foreign through various institutional reforms and polices. This has enabled many investors to startup business in Rwanda’s untapped opportunities in areas such as: Infrastructure opportunities in rail, air transportation to further develop Rwanda as an EAC hub, Investment in tea and horticulture.

Rwanda also has quality Tea and coffee and growing conditions among the best in the world. The Energy: Power generation, off grid generation and significant methane gas opportunities, and Tourism: Unique assets creating booming sector; growth potential in birding and business (conference) tourism.

Some of the foreign investors say they chose to come to Rwanda without even thinking twice about the decision. Mevlüt Kayar, the Turkish Airlines Vice President of Marketing & Sales says that the star alliance airline chose to invest in Rwanda because of the good governance and political will in the country, which gives assurance of the future.

“When you compare Rwanda to other countries, it is very assuring when you don’t have to bribe to do business. Rwanda is a small country but it has a future and we will be proud to be part of this” he said.

Even mediocre investors, like Peggy Masambu, a Kenyan who run a consultancy have tasted the difference in the way Rwanda is running its investment climate business. I registered my company and I was given the certificate in six hours. That is not common in this region because of the chain of corruption” Masambu says.

Rwanda’s secret magic

Rwanda has given all reasons for making herself an investor’s destination. The country has been defined by a commitment to ensuring an investor-friendly attitude, and its investment climate has totally been re-defined by peace and stability and zero tolerance to corruption.

The Government of Rwanda is acutely aware that achieving the objectives of its Vision 2020 requires a substantial contribution by foreign investors, who need to be welcomed and assisted on the ground. This awareness is reflected in several ways in the investment regime.

Starting a business is much easier and faster in Rwanda, and so is registering property, than it is in any of its neighbors in the East African Community (EAC) according to the World Bank 2013 report on Doing Business in EAC released this May 2.

There are no sectors that are barred to foreign investors and no restrictions on the percentage of equity they might hold. The Constitution of 2003 also guarantees investors against expropriation, except in the public interest and with fair and prior compensation, which may be repatriated.

Rwanda’s investment promotion division under the Rwanda Development Board has been a gateway to investing in Rwanda. The division reaches out investors with specific investment opportunities through international road shows, facilitate prospecting investors coming to Rwanda by putting them in contact with people and entities they wish to meet; organizes sector specific conferences and networking session, assists with inquiries and information gathering on behalf of the investor and seeking potential local and foreign partners in Rwanda for potential investors.

Rwanda’s Tax incentives are offered to both foreign and local investors. The investment code and tax laws and East African Community tax regulations make provisions for tax incentives. Among these incentives are exemption capital goods and raw materials; hotel equipment; as well as a flat rate of 5% in lieu of taxes and duties for property and real estate developers.

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