Rwanda has again defended its best ranking in ease of doing business by attracting more foreign investment tapping into her yet untapped opportunities.
The Rwanda Development Board (RDB) in 2017 registered investments in Rwanda worth $1.675 billion, an increase of $515 million compared to the year 2016 with $1.160 billion worth of investments.
According to RDB, three sectors took the lion’s share of investment. These include; construction and real estate($ 637,659,692), Mining ($267,344,495) and infrastructure which registered $202,660,135 or 38%, 16% and 12% of the total investments registered by RDB respectively.
RDB says that the largest individual investments registered last year were Bugesera Airport Company Ltd ($398.68 million), Ignite Power Rwanda Ltd ($113.84 million), Gasabo Investment Company ($89.02 million), African Panther Resources Ltd ($54.02 million) and Kigali View Hotel and Apartment Ltd which invested $53.2 million.
This makes the total investment worth $708.76 million from the above five investments.
In terms of the origins of the investments, says RDB, Foreign Direct Investment (FDI) dominated, with investments worth $1.041billion or 62.26% of all investments registered by foreign investors.
This was followed by local investments registered worth $ 470.98 million or 28.15% of all investments registered.
Joint ventures (local and foreign investors) worth $160.47 million were registered; they were worth 9.59% of all total investments registered by RDB.
In comparison, in 2016, foreign investments worth $650.4 million, local investments worth $479. 5million and joint ventures investments worth $160.47 million were registered respectively.
Commenting on the investments registered in 2017, RDB Chief Executive Officer, Clare Akamanzi said:
“In the last 10 years, registered investments in Rwanda have jumped from $800 million in 200u to $1.67 billion in 2017. This is an increase of more than 100% in only a decade. This is evidence that Rwanda is being seen more and more as great place to do business,” she said.
The country remains second in World Bank’s ‘Doing business” ranking – only coming behind Mauritius.
To continue creating a better environment for investors, RDB organises an ‘investor open day’ – a day-long session where investora meet RDB’s top management to discuss issues surrounding their business. The session is organized every Friday.
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.
This comes on top of the ‘Aftercare Services’ where RDB offers assistance in ensuring that business projects are implemented free of avoidable impediments.