Rwanda bets big on forex inflows as country hosts top sporting event

Rwanda is set to make history as the host country for the UCI road world championships in September 2025, marking the first time the prestigious cycling event will take place on the African continent. The announcement was made earlier today by Rwanda and UCI, solidifying Rwanda's position as a growing hub for sports tourism. To discuss the significance of this event and the preparations underway, CNBC Africa had an insightful conversation with Amina Lanaya, the Director General of UCI. Lanaya shed light on the pivotal reasons behind selecting Rwanda as the host country, highlighting the country's safety, visa-free policy, welcoming environment, and its capacity to host such an international event. With the event poised to attract over 20,000 visitors, including athletes, officials, and spectators, Rwanda is gearing up to showcase its capabilities to the world. Lanaya emphasized the economic and social impacts of the championships, stressing the potential for significant returns on investment. Not only will the event boost the local economy through tourism and hospitality services, but it will also highlight cycling as a sustainable means of transport and promote healthy lifestyles. Additionally, Rwanda is taking a notable step towards achieving gender parity in cycling by introducing a new category for women under 23 in the championships, a move that underscores the country's commitment to developing women's cycling and promoting inclusivity within the sport. The UCI road world championships in Rwanda are not just about athletic competition; they represent a unique opportunity to showcase the country's potential, drive economic growth, and advocate for gender equality in sports.