The Emerging Markets Private Equity Association noted last year that “Sub-Saharan Africa has emerged from a once overlooked region to an increasingly attractive destination for private equity investment.” Rwanda’s President Paul Kagame said at the London Leadership Summit on Private Equity in Africa that in fact, great strides had been made in the region to procure an investor-friendly atmosphere, particularly in Rwanda.
He added that Rwanda was named the fastest reforming country worldwide, with business regulations now easier in Rwanda than the average economy in Eastern Europe, Asia, Latin America, and the rest of Africa. And while no real statistics or sources were given regarding that statement, the president did say the country needs to improve its energy and transportation infrastructure. He said, “Rwanda’s position as a landlocked country is often looked upon as a disadvantage to trade and investment- we, on the other hand, see numerous opportunities arising from this strategic positioning.”
He added, “I believe that the more investors come, the more misconceptions about our continent will be dispelled. There may have been a time when investors came to Africa motivated by charity. But today, we submit that in addition to contributing to social development, it makes good business sense to invest your money in Africa, and particularly in Rwanda.”
Kagame said that investors should look into the country’s various energy projects that include power generation and off-grid generation. And with Rwanda, another advantage is the numerous alternative energy opportunities for domestic and regional markets. With the creation of the Rwanda Development Board (RBD), strategic sectors have made business –start-up procedures simpler, now only requiring two steps and less than three days to register and start a business in Rwanda.
Alternative Energy Africa reported on August 18 that many Kenyan companies were eyeing Rwandan ventures (Kenyan Companies Eyeing Rwandan Investment Opportunities). Kagame said, “We are determined to do what it takes to bring in investment, and last year, we created the Rwanda Development Board (RDB), modelled on international best practice examples, to help fast-track investments.”