Foreign investors continue to flock to Rwanda, making it a desirable destination for business and lots of investment oppurtunities. Rwanda’s economy is one of the world’s fastest-growing and boasts a business-friendly climate, a burgeoning private sector, and major infrastructure projects. Investment in manufacturing is a major focus for Rwanda’s industrial parks.
A number of well-known multinational corporations have set up shop in Rwanda, including Volkswagen, Motorola Solutions, Andela, and Radisson Hotel Group. The first smartphone manufacturing in Rwanda was recently built by Mara Phones. Carnegie Mellon University and other educational institutions have established campuses in Rwanda.
Investing in Rwanda: Here Are Top Key Investment Opportunities in Rwanda:
Agricultural and Agro-processing Industries
Roughly 54 percent of the country’s working population is employed in agriculture, which produces about 24 percent of Rwanda’s GDP. The Gabiro agro park, a fully irrigated commercial farm of 15,600 hectares, is one of the most promising chances in the industry.
Another is the Gako beef initiative. Developing a farm of 5,600 hectares to produce high-quality beef for export markets is the primary goal. As a result of the initiative, there are investment opportunities and employment possibilities in agriculture, a feedlot or mill, slaughterhouses, tanneries, or rendering plants may be created.
Additionally, there is the Kigali wholesale market: a fresh agricultural product trading platform situated inside Rwanda’s Special Economic Zone. The Special Economic Zone has already acquired 10 hectares of land for the actual market.
Currently, manufacturing accounts for 17% of the country’s total gross domestic product (GDP). The industry is characterized by progressive diversification from basic manufacturing to higher value-adding industries. Glass manufacture, e-mobility, and the production of electrical items, packaging materials, wood products, textiles, and apparel all provide significant investment prospects in this area.
For instance, in the glass industry, the goal is to leverage Rwanda’s excellent sand resources to build a flat and a container glass plant for the local and regional markets.
The proximity market, which includes 60 million people and more than one million automobiles, is increasing rapidly under the umbrella of e-mobility. 180 million people populate the EAC, which boasts a $3 billion automotive industry.
ICT and entrepreneurship
It is the government’s goal to improve service delivery through investing in ICT infrastructure. One of the world’s largest fiber optic networks, with 7,000 kilometers of backbone and 95 percent LTE network coverage, as well as BPO industry standard equipment, ensures high-speed and reliable communication.
The Kigali Innovation City, or KIC, is all about the establishment of an Innovation and knowledge center integrating world-class learning institutions, IT firms, innovation friendly funding and strong government engagement.
For the initiative, there will be four leading institutions, 2,000 students and researchers, 50 percent of the major worldwide think tanks, global technology businesses as well as an active local market.
The Rwanda innovation fund is another option. It is a $100 million fund supporting the development of world-class creative entrepreneurs and enabling technologies in the ICT industry in Rwanda, East Africa and Sub-Saharan Africa, which is privately managed. Funding for Tech-Enabled SME’s and building the country’s entrepreneurial or innovation ecosystem capability will be the emphasis of the investment vehicle established by the fund.
This includes the Kigali Green City project, which aims to build a sustainable neighborhood for middle-income inhabitants on 16 hectares of land. This includes the Kigali Green City project Environmentally friendly architecture and design, efficient and renewable energy, recycling, and an inclusive way of life will all be part of the Green City Kigali initiative, which will also make use of locally produced solutions and materials. The project’s total cost is $86 million, and the German government has already committed EUR40 million in finance.
Another important project for Rwanda is the Dar-Isaka-Kigali standard gauge railway.
Building 139 kilometers (on Rwanda’s side) of railway and running trains to accommodate the strong demand for fast goods and passenger transit between Rwanda and Tanzania is the goal of this project. An extension to Bujumbura, Burundi, and the eastern Democratic Republic of the Congo is possible; the whole line (Isaka-Kigali) is 534 kilometers long.
Another possibility is the use of ferries to transport goods across Lake Kivu: Purchasing and operating ferries to accommodate the enormous demand for lake Kivu marine transport of goods and people is part of this effort. A total of 4.5 million people live in six major cities around the lake, four in Rwanda and two in the Democratic Republic of the Congo. Four ports are presently being built by the Rwandan government (Rubavu, Rusizi, Nyamasheke and Karongi).
Opportunities abound in the healthcare industry
A multi-tiered administrative framework, spanning from the national to the village level, now covers around 12 million Rwandans under the country’s health system. Equipment manufacture, the construction of medical consumable manufacturing facilities, and the development of brand pharmaceutical items are only some of the opportunities accessible in the medical tourism industry.
An eight-step plan by the Rwanda Development Board might help the country’s tourist industry recover from the Covid-19 outbreak.
Additionally, financial possibilities abound in this field. The government is urging investors to build luxury eco hotels around the twin lakes in Burera District, for example, as part of the massive Kivu belt project.