Rwanda registers more than 170 investment projects worth over $2 billion

Rwanda Development Board (RDB) registered 173 investment projects in the country worth $2.006 billion in 2018.
The largest share of the 2018 investment registrations or 49% was posted by domestic investors, while Foreign Direct Investments represented 47% of the total.
Of the total investments registered in Rwanda in 2018, an estimated 26% represented export-oriented projects.

2018 was a good year for Rwanda and the tiny East African nation literally smiled all the way to the bank.

Rwanda through Rwanda Development Board (RDB) registered 173 investment projects in the country worth $2.006 billion in 2018, effectively surpassing the target by $6 million set for the year, a first in the country’s history.

Paul Kagame, President of Rwanda attends the session "The Transformation of Tomorrow" during the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland January 20, 2016. REUTERS/Ruben Sprich Reuters

The investments were an increase of $331 million or approximately 20%, compared to the investments registered by RDB in 2017. During 2017, $1.675 billion worth of investments were registered.

“In the last 8 years, registered investments in Rwanda jumped from $98 million in 2010 to slightly over $ 2 billion in 2018. Last year, we passed the $2 billion milestone, for the first time in the country’s history. This is evidence that Rwanda is being seen as a great place to do business, innovate and establish a hub from which to access the continent’s tremendous opportunities. The increased investments registered are a direct result of the initiatives that the Government of Rwanda, through RDB, has put in place to continuously make Rwanda an attractive destination for investment. In fact, this year, Rwanda was proudly ranked the 29th easiest place to do business in the world and the 2nd easiest place to do business in Africa,” RDB Chief Investment Officer, Guy Baron said.

RDB Chief Executive Clare Akamanzi. Pulse Live Kenya

According to the development board, the largest share of the 2018 investment registrations or 49% was posted by domestic investors, while Foreign Direct Investments represented 47% of the total.

Some of the largest investors during 2018, who registered expected investments over $ 70 million, included: Emerald Park ltd; Millennial Construction Ltd; Rwanda Innovation Fund; Jali Transport; and Mara Phones.

In 2018, the first made in Rwanda Volkswagen Polo also rolled out from Rwanda’s new plant located at the country’s Special Economic Zone Pulse Live Kenya

In 2018, the first made in Rwanda Volkswagen Polo also rolled out from Rwanda’s new plant located at the country’s Special Economic Zone, effectively setting the tiny nation on a path to becoming a manufacturer of new cars.

The German carmaker sank an initial investment of $20 million to set up the plant, which is the fourth in Africa after South Africa, Nigeria, Kenya and Algeria, expected to roll off 1,000 to 5,000 units annually to serve both the region and global markets.

City fireworks have always burst spectacularly over the multi-coloured dome of the Kigali Convention Centre Pulse Live Kenya

Joint ventures (local and foreign investors) represented the balance of 4% of all investments registered during the year.

Of the total investments registered in Rwanda in 2018, an estimated 26% represented export-oriented projects. Across sectors, manufacturing, mining, agriculture and agro-processing accounted for 57% of investments registered.

Other sectors that attracted significant investments were tourism, healthcare, business services and ICT.