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INVESTMENT & TRADE OPPORTUNITIES IN RWANDA
Rwanda is one of the most rapid growing countries in East Africa.
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Number of multinationals: unknown
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Population: 12 million
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Area: 26,338 km²
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GDP: 10,33 billion USD $
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Economic growth: 9,4% (2019)
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Key sectors: Services, Agriculture and Industrial sectors
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Export products: Coffee, Gold, Tea, Tourism and Minerals
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Import products: Transmission apparatus, Medicaments, Iron, Steel and petroleum
DOING BUSINESS IN RWANDA
Rwanda’s economy is traditionally dominated by agriculture and has tremendously recovered over the last two decades due to investments in hospitality (tourism), construction, manufacturing, financial services and the energy sector. Rwanda's Gross Domestic Product (GDP) has risen from $752 million in 1994 to $9.5 billion in 2018, and the GDP per capita has grown from $125.5 to $787 during the same period. The country registered an average GDP growth of around 8 percent per year over the last two decades, with a double-digit growth recorded in the last two quarters of 2019 (12% growth in the 2nd quarter, and 11.9% in the 3rd quarter).
The sustained economic growth has led to one million people being lifted out of poverty (between 2000 and 2017). Currently Rwanda is the 2nd best place to do business in Africa thanks to extensive 10-year doing business reforms.
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Investment climate
Over the last ten years, Rwanda has implemented a successful doing business reform agenda in order to create a favourable and competitive business environment. As a result, Rwanda jumped over 100 places in the World Bank Doing Business Index, today ranking 38th globally and 2nd in Africa. The value of investments registered more than tripled from US$400 million in 2010 to US$2.006 billion in 2018. In 2019, Rwanda registered investments worth US$ 2.46 billion, an increase of 22.6% from the previous year. Energy and manufacturing accounted for 75% of all investments registered (45% and 30% respectively). Other sectors that attracted significant investments were construction, agriculture, services including ICT as well as mining.
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Doing business in Rwanda
Are you interested to learn more about the countries economy, investment climate and business opportunities in Rwanda?
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Register now and join one of our online webinars about the latest business opportunities in Rwanda.
INVESTMENT OPPORTUNITIES
IN RWANDA
Rwanda is a hub for rapidly integrating East Africa and offers investors access to markets with over 10 million people.The sustained high economic growth with an average annual GDP growth rate highly favours domestic and foreign investors with a stable inflation and exchange rate. Growth momentum is expected to remain strong, driven by public and private investment through the country’s s National Transformation Strategy (NST) and vision 2050. Potential opportunities for investment abound, particularly in the following sectors:
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Infrastructure: Opportunities in rail, air transportation to further develop Rwanda as an EAC hub
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Agriculture: Backbone of economy. Potential for growth through productivity and value addition
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Energy: Power generation, off grid generation and significant methane gas, hydro and other opportunities
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Tourism: Unique assets creating booming sector, growth potential in birding and business/conference tourism
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Information and communication Technology: Priority sector for Vision 2020, new ICT park to be developed
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Other attractive sectors include Real estate and construction, financial services and mining
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On behalf of our members TAIC is continuously capturing and monitoring the most interesting investment opportunities in Rwanda. Our team of business consultants on the ground is well connected among key business leaders and policy makers working closely together with Rwanda Development Board (RDB). As a member of TAIC, you can opt in to receive our newsletter highlighting the most interesting Investment opportunities in Rwanda.
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TRADE OPPORTUNITIES
In 2020 Rwanda was the number 158 economy in the world in terms of total exports and the number 168 in total imports.
Exports
The top exports of Rwanda are Gold ($644M), Coffee ($66M), Tea ($54.7M), Niobium, Tantalum, Vanadium and Zirconium Ore ($46.4M), and Tin Ores ($20.2M), exporting mostly to United Arab Emirates ($594M), Turkey ($54M), China ($37.8M), United States ($31.4M), and Pakistan ($28.2M).
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Imports
The top exports of Rwanda are Gold ($644M), Coffee ($66M), Tea ($54.7M), Niobium, Tantalum, Vanadium and Zirconium Ore ($46.4M), and Tin Ores ($20.2M), exporting mostly to United Arab Emirates ($594M), Turkey ($54M), China ($37.8M), United States ($31.4M), and Pakistan ($28.2M).
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Do you want to expand your business in Rwanda, explore new trade opportunities and profit from the economic growth in the next years? Join one of our online webinars and learn more about the latest trade opportunities in Rwanda.
INVEST IN THE MOST INNOVATIVE & SCALABLE COMPANIES
Rwanda has a growing number of innovative and scalable companies with a high growth potential. In order to grow foreign capital is needed. TAIC is the matchmaking platform that connects founders, investors and enterprises. Every quarter we publish an executive report with a shortlist of the most innovative & scalable companies of Rwanda that are ready for foreign investment.
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Do you want to receive our newsletter with a shortlist of the most investable ventures from Rwanda?
HOW TO INVEST IN RWANDA
Rwanda offers many investment opportunities in different sectors. With the recent approved investment law, Rwanda has an array of investment incentives for investors ready to invest in the key priority sectors. The new law comes with a new package of incentives that are critical towards driving the growth of key priority sectors which include; exports, energy, ICT, transport and logistics, health, financial services, and affordable housing. The Rwanda Development board has developed an online registration system to make the process of submitting an application for investment and apply for the various incentives more efficient and cheaper.
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Fiscal incentives
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Zero corporate income tax for companies planning to relocate headquarters to Rwanda
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15% preferential corporate income tax for strategic sectors i.e. energy, transport, affordable housing, ICT and financial services.
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Accelerated depreciation of 50% for key priority sectors i.e. tourism, construction, manufacturing and agro-processing
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Exemption of capital gains tax
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Seven-Year corporate income tax Holiday for large projects in strategic sectors i.e energy, exports, tourism, health, manufacturing and ICT
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Repatriation of capital and assets
Non-Fiscal incentives
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Quick business and investment online registration
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Assistance with tax-related services and exemptions
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Assistance to access utilities (water & electricity)
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Assistance with obtaining visas and work permits
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One stop center that provides notary services
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Provision of Aftercare services to fast track project implementation
NB: All fiscal incentives listed above have requirements that need to be fulfilled before they are granted
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Do you need any assistance exploring the latest investment opportunities in Rwanda? Our team of Consultants on the ground can guide you on your journey. Feel free to contact us.
SUCCESS STORIES
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The most Impressive Construction Projects in Rwanda
Over the years, Rwanda has started a number of initiatives intended to boost the nation's economy, increase revenue, and generally improve the welfare of its citizens. The president of Rwanda, Paul Kagame, has stated that he wants his country to be the "Singapore of Africa." Therefore, it should come as no surprise that Rwanda is currently undertaking a number of massive development projects.
Most impressive mega projects in Rwanda
A construction boom is underway in Rwanda, the government understands the importance of infrastructure in the development of a competitive private sector. To this end, the government of Rwanda has continued to invest heavily in infrastructure. Almost a tenth of Rwanda’s annual budget is committed to transport and other infrastructure.
Rwanda Development board pitches 100 investment projects to investors
RDB has collaborated with Pemandu consultation agency to pitch 100 projects to investors for their consideration. With the right financing, these projects could fast track the country’s development
