Rwanda Investment Programs

 The Government of Rwanda aims to transform the country into an upper-middle-income country by 2035, and a high – income country by 2050. Achieving Rwanda’s social and economic develop­ment objectives is mainly dependent upon its most valuable resource – it’s people. To achieve these goals, the Rwandan people must be provided opportunities to build knowledge, skills, and attitudes to compete in the labor market and contribute to the social and political life of their country. 

 Structure of Rwanda’s education system

In Rwanda, the education system is composed of four main levels: Pre-primary, Primary, Secondary, and Higher Education, with a significant TVET stream at both secondary and higher education levels.

Pre-primary education is organized in nursery schools and for three years for children between the age of 4 and 6.

Primary education lasts six years, with the official school age at this level being from 7 years to 12 years. This stage focuses on core literacy and numeracy skills, as well as preparation for secondary studies.

Secondary Education also lasts for six years, with the official age for this level being from 13 years to 18 years of age. It is subdivided into lower secondary (the first three years) and upper secondary (the last three years), both culminating in national examinations, which respectively determine eligibility for university education

Rwanda’s financial sector has made great strides towards becoming modern. The sector is stable, well-capitalized, profitable, and liquid. The sector consists of a vast and growing array of institutions, a stock exchange, Banks, microfinance institutions, savings and credit cooperatives (SACCOs), insurance companies, and pension funds and is becoming increasingly diversified.

In terms of total assets, the banking sector continues to dominate the financial system with Banks 66.1%, followed by the pension, insurance, and microfinance with 17%, 9.7%, and 6.4, respectively.

Rwanda’s priorities are to increase long-term savings and credit to the private sector to 30% of GDP. This will be achieved by enhancing savings mobilization, especially long-term savings and mobilization of long-term capital for investment.

The government has started to regularly issue bonds to deepen the capital market and lengthen the yield curve, with the most extended maturity today being twenty years.

Rwanda aims to become a Business and financial center of excellence. The country has started to attract large-scale investment opportunities in new and upcoming sectors, including green and sustainable financing and FinTech.

International bank representative office

International banks can adopt a low-risk familiarization route into the Rwandan market by establishing a representative office in Rwanda.

• An International/Global bank represented in Rwanda will be in a position to support large projects initiated by both government and private sectors. This will include financing through syndication or directly and also transaction advisory services.
• The Rwandan economy presents various opportunities for the representative bank office to introduce to the wider bank group. These opportunities range from Trade Finance, investment management, corporate structuring, corporate finance, Treasury and Pension Fund Management, and asset finance, to mention but a few.
• The recent Africa 2018 Wealth report highlights that Rwanda will be one of the strongest performing wealth markets over the next ten years.

Agricultural financing

Increased credit in the agriculture sector is key to ensuring the development of the industry in Rwanda.

Several innovations/products (weather-based crop insurance, warehouse receipt schemes, etc.) can be introduced to improve value chains within the agriculture sector.

SME financing

Small and Medium Enterprises are the lead drivers of job creation and economic development in Rwanda. If the business environment for these firms can be improved, they can become more profitable, increase in size, and tap into regional and global markets.

Financial institutions experienced in SME financing such as private equity and venture capital funds will help to increase access to finance for this category of enterprises.

Real estate investment trust

Commercial REITs present a massive opportunity for the Rwandan Market, especially financing and supply options for affordable housing, shopping malls, hotels, and offices.

Also, our business and financial ecosystem offers access to products and services that are conducive for activities such as Fund Management; Private Equity Investments and Global Trading

• Tourism is the largest source of foreign exchange earnings in Rwanda and is growing rapidly. In 2019, revenues generated from the sector were USD 498 million.

• Rwanda is the second easiest place to do business in Africa according to the World Bank’s Doing Business Ranking. Registering a business takes just six hours.

• A 7,000 km nationwide fibre network and a 4G LTE network that covers 95% of the country provide instant connectivity wherever you are – from Kigali to the shores of Lake Kivu.

• A business-friendly investor law provides generous incentives for entrepreneurs and established companies alike.

• Rwanda offers free visa on arrival for AU, Commonwealth and Francophonie member states. Entry visas are available on arrival for all other international visitors.

• The rapid growth of national airline RwandAir and the construction of a new world class international airport are positioning Rwanda as a key regional hub for business and trade.

 Volcanoes National Park Experiential Centre 

• Located in Musanze District in Rwanda’s Northern Province, the Volcanoes National Park Experiential Centre is a ground-breaking project that will share success stories of mountain gorilla conservation and harness the power of responsible tourism. 
• The Experiential Centre will sit on 15 hectares and encompass the Kwita Izina Amphitheatre, a vibrant conference centre, a state-of-art research and veterinary centre, visitor centre and an enlightening conservation museum, among others.
• The site is located at the foothills of Volcanoes National Park, home to the endangered mountain gorillas, and just two and a half hours from Kigali. 
• The Volcanoes National Park Experiential Centre will:
  • benefit from and contribute to Rwanda’s fast-growing tourism sector
  • expand law enforcement and research activities for the effective conservation of the park and enhance visitors’ experience 
  • support community development through job creation
  • feature a multi-purpose venue for year-round events

5-Star Golf Resort & Residential Villas 

• Located on the shores of Lake Kivu, this unique 18-hole championship golf course in Karongi District, Western Province, will be an attraction for the international, regional and national upmarket leisure traveller. 
• The site is strategically located near Nyungwe National Park and Gishwati-Mukura National Park. Rwanda is positioning itself as a prime golf destination in East Africa, attracting a new clientele to the region through the golf course and a luxurious 5-star resort. 
• This development will be a favourite addition for tourists visiting the country’s national parks and wishing to extend their stay in Rwanda. Along with the golf course and the 5-star resort, a residential complex will be developed in the beautiful surrounding of the golf course.

Karongi Lakeside Resort

• Located in Karongi and in close proximity to Lake Kivu, this prime site is available for development of a hotel, lakeside lodge or resort.
• Lake Kivu has been demarcated as a priority area for tourism development with a number of new tourism experiences developed, including the Congo Nile Trail, a 227 km adventure and community trail, Gishwati-Mukura and Nyungwe national parks (both less than 50 km away), water sport activities, hiking and biking trails as well as community-based tourism.
• The site offers direct lake access and a total land of up to 3.7 hectares.

 Hotel Strip, Rubavu District  

• A Hotel strip development is planned along the beachfront of the main Rubavu tourism zone in Rwanda’s  Western Province. The property will be highly visible from the entry point of the city and easily accessible from the beachfront road.
• The terrain is almost flat with little vegetation on site. It is strategically located at the shores of Lake Kivu, a hotspot for tourism activities. 
• This facility will tap into Rwanda’s growing events industry with the Rwanda Convention Bureau extending conferences to cities like Rubavu. 
• The hotel strip will consist of a mixed-use entertainment and leisure development, accommodation, public areas, retail, spa, casino, and event facilities.

 Cultural Tourism Infrastructure Project 

• The Kigali Cultural Village will promote and conserve the rich cultural heritage and environment of Rwanda, generate diversified tourism income for the country and open up new social and entertainment amenities and services. 
• The Kigali Cultural Village aims to enhance Kigali’s tourism offering, and to showcase Rwanda’s attractions to both local and international tourists.
• The village sits on 30.1 hectares and will have an outdoor auditorium, museum, heritage and food museum, camping site, eco-lodge, cinema with theatres and galleria, a playground, business centre and a botanical garden. The Government of Rwanda has invested in the basic infrastructure and the site is serviced with water and electricity 
• The proposed model of project implementation is a public private partnership.

 Gicumbi Vacation Village 

• Located in Gicumbi District in Rwanda’s Northern Province and only a one hour drive from Kigali, the vacation village is a lucrative concept geared towards families, singles and groups of friends that enjoy an eventful and nature-orientated lifestyle.
• The vacation village will provide visitors with every amenity required for a relaxing and exciting holiday.

 Lake Kivu Sport   

• The project comprises three marinas to be constructed in the three tourism centres of Rubavu, Karongi and Rusizi.
• Additional jetty stations and mini ports in Rutsiro and Nyamasheke will be developed along the shores of Lake Kivu.
• Regular boat services between these hubs will not only trigger tourism between these centres and along the lake, they will also facilitate domestic tourism and business.

 Akagera National Park  

Be part of one of the most exciting conservation stories on the continent and invest in tourism around Akagera National Park. 

• Nyakagonji: Camping site, eco-lodges, two Vacation Villas (16 & 24 beds respectively) and a conservancy area 
• Mutumba: Eco-lodge, including leisure facilities and community conservancy area 

 Infrastructure in Information and Communication Technologies (ICT) 

Rwanda has the ambition to become a regional hub for top-tier capacity building in ICT, and to accelerate this, the Government has invested in developing ICT infrastructure to enable service delivery.

Rwanda’s ICT competitive advantage

• 4500Km+ of Fibre-optic broadband cabling has been laid throughout the country connecting all 30 districts and with nine regional links to neighboring countries;
• 10 Gbps of broadband capacity
• 6% of population Connected the 4GLTE network
• Increased mobile penetration to 76.2%, with over 8.5 million subscribers.
• 1% of internet penetration across the country.

 
There are opportunities to establish more data centers and business continuity centers

Investment Opportunities in the ICT sector

• Infrastructure management services
• Software development
• Cloud computing
• Business process outsourcing
• Mobile applications
• E-government
• ICT education and training
• ICT business financing
• Application development & integration
• IT consulting
• Software R&D

 Infrastructure in Information and Communication Technologies (ICT) 

 Rwanda has an array of incentives for investors ready to invest in the country 

Rwanda understands the importance of infrastructure in the development of a competitive private sector. To this end the government continues to invest heavily in infrastructure. Almost a tenth of Rwanda’s annual budget is committed to transport and other infrastructure. To develop a vibrant private sector, Rwanda is investing in Roads, Rail and water transport infrastructure with the intent of dramatically reducing the cost of transport to businesses and individuals.

• Development of two major regional lines in a bid to link the country to the major sea ports of Mombasa and Dar-es-salaam
• Development of the Dar-es-salaam- Isaka-Kigali railway project, which will connect Kigali (Rwanda) from Isaka to the Tanzanian port of Dar es salaam. The project is estimated to cost UsD 5 billion once completed.
• The Mombasa–Nairobi-Kampala-south sudan-Kigali standard gauge railway line: The project is part of the Northern Corridor Integration Projects, an East African Community regional effort to develop a railway system network that will link the four partner states to
• stimulate trade and reduce the cost of doing business.

• Rwanda transport sector has greatly improved over the recent past. The transport sector system centres primarily on the road network, with over 1210 Km being paved. The target is to pave around 500Km by 2018.
• The sector contributes about 7% to the GDP representing about 15% of total service delivery.
• Maintenance of the national paved road network is a high priority. Currently, 86% of roads are in good condition with a target to achieve 95% by 2017-2018.
• Projects in pipeline that will require development in the near future include: 80km ring-road in Kigali City, 208 km road and 140km roads in the secondary cities.

• The country’s main gateway is the Kigali International Airport, serving the domestic and several international destinations.
• The airport is also home to the country’s national carrier RwandAir
• The airport hosts different international airlines serving different destinations: Addis Ababa, Amsterdam, brazzaville, brussels, bujumbura, Dar es salaam, Dubai, Entebbe, Johannesburg, Libreville, Mombasa, Nairobi, Istanbul and Doha,
• The Government plans to set up a second airport to complement Kigali International Airport. The new airport will provide both extra capacity for passenger transport and cargo freight.

• The project is being implemented jointly by the four countries: Kenya, Uganda, south sudan and Rwanda.
• Value of project: UsD 1.5bn Rwanda section (13.5bn entire project)
• Mombasa to Nairobi section launched in November 2013
• Feasibility studies are on-going for sections from Kampala to Kigali
• Proposed delivery mechanism: Public Private Partnership.

• Project to devellop a modern mass public transport system included in Kigali
• Master Plan to reduce congestion & emissions.
• 2 Phases: 1st Phase
  North-East to Wesr, 2ndPhase South to West (40km in total).
• Way Forward: Conduct feasibility studies, detailed design and secure funding.

• Value of projects: USD 240M
• 80 Km of ring roads identified to increase mobility and reduce traffic congestion
• 2 Phases: 1st Phase, East to South section, 2nd Phase, connecting | 1st Phase from South around Kigali to Eastern section.
• Project provided in the Kigali City Master Plan-Detailed study underway.
• Proposed model: Public Private Partnership with toll-road system.

• Fast ferry system for passengers in touristic and highly populated area, stopping at Rubavu, Karongi and Rusizi.
• Introduction of cargo system additional optionFeasibility study completed in 2010
• Project will be implemented through a Public Private Partnership model.

In line with National Strategy for Transformation (NST1) 2017-2024, the industrial policy prioritizes inclusive economic growth, job creation, and private sector-led development with a focus on high-value intensive agriculture and agro-processing, manufacturing, tourism, and knowledge-based services and ICT.

The manufacturing sector grew by 8%  for the fiscal year  2017/18 from 6% in the previous financial year (Source: NISR Annual Economic Report, January 2019). The sector is still small, but it has been growing steadily. Since the adoption of the National Industrial Policy in 2011; several critical policy interventions and strategies have been developed such as Made in Rwanda policy, Entrepreneurship Development Policy (EDP), SEZ policy, the Domestic Market Recapturing Strategy (DMRS), the National Export Strategy, SMEs strategy, the National Export Strategy and Cross Border trade strategy.

To increase the local domestic and foreign supply of manufactured goods, the Government has put in place the Special Economic Zone and 9 Industrial parks in Bugesera, Rwamagana, Muhanga, Nyagatare, Musanze, Huye, Nyabihu, Rusizi, and Kicukiro. This is aimed at addressing shortcomings in the business environment by developing infrastructure, streamlining business regulations, and facilitating fast-moving investors.

For market access, Rwanda has access to African and global markets through robust free trade agreements, namely:

• Common Market for Eastern and Southern Africa (COMESA) with a market of 492M
• East African Community (EAC)with a market of over185M
• Tripartite Free Trade Area Agreement (COMESA EAC SADC) with a market of 600M
• Continental Free Trade Agreement (CFTA)
• Cotonou Agreement established with the EU through Everything but Arms (EBA) and conclusion of EPA
• World Trade Organization (WTO) Declarations

Rwanda has preferential access to several international markets through the WTO’s special and differential treatment provisions. This has included access to the US markets through a unilateral commitment by the US to reduce tariffs under the African Growth and Opportunity Act (AGOA).

Rwanda also has access to preferential bilateral trade offers with other countries such as

China, India, Korea, Japan, and Switzerland.