With a mission to fast-track economic development in Rwanda by enabling private sector growth in order to transform the country into a dynamic global hub for business, investment, and innovation, Rwanda Development Board (RDB) has made enormous gains.
RDB leadership that has a tough mandate of accelerating this private sector led growth says the country is on an upward trajectory.
Last year alone Rwanda registered investment commitments of $1.67billion, and is expected to generate 37,548 jobs.
“This is an increase of $USD 515 million when compared to the investments registered by RDB in 2016,” said RDB CEO Clare Akamanzi.
According to RDB’s Annual Report for 2017, the country attracted several transformative investments in logistics, tourism, agroprocessing, health and mining.
Under tourism, the report says revenues totaled $438 million in 2017, constituting almost 50% of all services exports.
The country registered a massive 94000 visits to national parks which generated $18.7 million in revenue (Volcanoes NP generating >90%).
Rwanda also scooped the 3rd position in ranking as Africa’s leading MICE tourism destination by International Congress and Convention Association (ICCA).
Flipping the coin onto the Exports performance, the report says overall exports grew by 36% compared to 2016, with merchandise exports driving growth.
The report says that in 2017, 100 export market destinations were served through 81 different products.
Looking at the Business environment, the report says Rwanda was ranked 2nd in Africa, 41st in the World in World Bank’s Ease of Doing Business report (up from 56th position). The country also implemented the highest number of reforms in Sub-Saharan Africa in the past 15 years.