Investing in value chains to hasten economic growth for Africa

Rwanda and China have reaffirmed their commitment to deepening economic cooperation to accelerate economic development in Africa. During the commissioning of Rwanda's third largest cement firm, the President of Rwanda emphasized the importance of investing in industries to enhance manufacturing capabilities. The state-of-the-art factory is expected to play a significant role in Rwanda's transformation journey, with the President expressing gratitude and assurance of the country's full support towards such initiatives. The growth prospects for Africa's cement industry are bright, fueled by a rapidly growing and urbanizing population that is driving demand for housing and infrastructure. This trend presents manufacturers with ample opportunities to expand into new markets and create job opportunities within local communities. Despite existing challenges, cooperation among key stakeholders is seen as essential to overcoming hurdles and driving industry performance. Key strategies include delivering higher quality products, adopting sustainable manufacturing practices, and implementing investment-friendly policies. Rwanda has positioned itself as an attractive investment destination, with China emerging as a top source of investments in the country. In the past five years, Rwanda has attracted close to a billion dollars in investments from China, expected to create up to 25,000 jobs for Rwandans. The country has also implemented programs such as the Manufacture and Build to Recover initiative, aimed at accelerating investments in manufacturing, real estate, and agro-processing post the COVID-19 pandemic. This initiative has already attracted over 122 projects worth $2.3 billion, showcasing Rwanda's appeal as an investment hub. The successful partnership with Angier and other investors serves as a testament to the conducive business environment in Rwanda, encouraging more companies to consider investing in the country. The President's call to 'Visit Rwanda. Invest in Rwanda.' encapsulates the government's commitment to bolstering economic growth through strategic partnerships and robust industrial development.