Rwanda is the easiest country to do business in East Africa.
Our interventions are the following:
Rwanda offers an attractive environment to operate in or to run a business from.
Sustained High Economic Growth
• 7.1% average year-on-year GDP growth since 2004, stable inflation and exchange rate
• 3 year GDP growth rate highest among major African economies and neighboring countries
• A clear vision for growth through private investment set out by President Kagame (Vision 2020)
• Politically stable with well functioning institutions, rule of law and zero tolerance for corruption
Investor friendly climate
• Fastest global reformer of business regulations based on World Bank Doing Business Survey
• Most competitive place to do business in East Africa and 6th in Africa (WEF Global Competitiveness Report)
• Country credit rating upgraded to B by Fitch
• Among top 3 African countries in terms of internet connectivity (Ookla)
• Simple taxation, development of industrial parks and free trade zone, and creation of stock exchange
• Increasingly attractive destination for FDI – USD118 million in 2009 represents 14x increase from 2004
Access to markets
• Market of over 10 million people with a rapidly growing middle class
• A hub for rapidly integrating East Africa: located centrally bordering 3 countries in East Africa which has an existing Customs Union and a Common Market in 2010 for 550 million people in total
• Potential opportunities for investment abound, particularly in the following sectors:
Tourism: Unique assets creating booming sector; growth potential in birding and business (conference) tourism
Other attractive sectors include Real estate and construction, Financial services and Mining
Business in Rwanda
- Radical reforms which have made it easier for businesses to get credit, pay taxes, starting a business have boosted Rwanda’s ratings in the World Bank’s ‘Doing Business Report’.
- Rwanda is the 2nd most reformed country in the World, over six years, after Georgia (2005-2011).
- It came in 45th on the overall list, up from 58th last year.
- In 2011, Rwanda introduced about reforms to ease doing business in the country. It now takes 1 day to start business compared to 45-days average on the African continent, and 13-days for the rich countries to start a business.
- In 2012, the World Bank Doing Business report reflects Rwanda the 3rd easiest to do business in Africa after Mauritius, and South Africa.