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Do you want to know what business opportunities exist in Rwanda for foreign investors? Rwanda has become a popular African destination for foreign investors. Furthermore, Rwanda’s public procurement body will be present at the Business Expo on March 23rd, 2023, where various opportunities will be explained; however, before then, here are some of the business opportunities in various sectors that can make your stay in Rwanda pleasant and profitable.
Information & Communication Technology: Rwanda is promoting a progressive ICT sector as part of a strategy to become a ‘tech hub’ and has laid fiber optic broadband cables across the country. A project with an investment value of USD 1.9 billion, Kigali Innovation City aims to provide world class ICT infrastructure, products, and services. It targets universities, international financial service companies, data centers, business continuity centers, agriculture, commodities & knowledge management.
Finance & Banking: Rwanda aims to become the financial hub of the region. It has recently introduced Kigali International Financial Centre (KIFC), an initiative that seeks to position Rwanda as a financial jurisdiction for investments into Africa. Opportunities for foreign investors. These include; Investment banking services, asset management, Insurance schemes, Private equity fund, venture capital and mutual funds, mortgage and agricultural banks, brokerage activities (Rwanda Stock Exchanges).
Agriculture: Rwanda’s economy is predominantly dependent on agriculture and the sector is the principal contributor to employment creating jobs for about 80% of the population. Coffee and tea are the main sources of foreign exchange in agriculture. The Government’s policy is to diversify and increase productivity. Opportunities exist for food processing in domestic and international markets, including the mechanization and export of fruits and vegetables such as potatoes, French beans, peas, African eggplants, apples, pineapples, bananas, passion fruits and avocados
Other sectors
Tourism: The sector is one of the leading foreign exchange generators. Rwanda has unique assets, such as Mountain Gorillas, a great variety of bird species and primate species, game reserves, equatorial forest and the most remote source of the Nile. Major international brand hotels have established their operations in Rwanda. Projects available for investors include Kigali cultural village and Kivu Belt projects.
Glass: Rwanda has significant deposits of the main raw materials required for float glass manufacture. There is an opportunity to establish a glass container factory serving the regional beverages industry with bottles and drinking glasses. Float and architectural glass for building construction is in high demand.
Pharmaceuticals: Rwanda offers generally accessible health insurance schemes, which has stimulated demand for pharmaceutical drugs in Rwanda making it a good ground for foreign investors.
There are opportunities to produce generics of brand-name products andto work with public-private partnershipswith the government.
Mining: There are opportunities for mining and trade in:
- -tin, tungsten and coltan
- -gemstones.
- -industrial minerals and rocks like silica sands, limestone, talcum, kaolin, vermiculite, -diatomite, clay, gypsum and pozzolan.
There is an interest in the upgrade of mining technology and establish ore smelting plants. These plants will smelt the ores.
Textiles and leather: Currently there is no operational tannery, and all hides and skins are exported as raw material. The EAC has introduced a single tourist visa to ease movement of both home and foreign tourists in the three EAC countries (Uganda, Kenya, Rwanda).
In general, Rwanda remains one of the African countries that are attractive to foreign investors; don’t miss out on the business expo. Come make connections with Rwandan business leaders and pave the way to broadening your business’s boundaries.
You can register herehttps://eabexpo.com/attend/
