Kigali Heights MD on what makes Rwanda attractive to investors

Rwanda's economy is projected to grow by 6.6 per cent in 2024, making it an attractive destination for investors seeking opportunities in various sectors. CNBC Africa recently spoke with Dennis Karera, Managing Director of Kigali Heights, to gain insights into the investment landscape in the country. Rwanda, currently ranked fourth in Africa in terms of ease of doing business, offers a conducive environment for investors looking to tap into emerging industries. Karera highlighted key sectors that present investment opportunities in Rwanda. Industrialization is a crucial area that is primed for growth, along with the burgeoning tourism sector. The country is also making strides in transforming its agriculture industry into mechanized farming, mirroring the practices seen in Europe. Additionally, opportunities abound in energy, infrastructure, and information technology, with Rwanda positioning itself as the financial center of the region. One of the key attractions for investors in Rwanda is the ease of doing business. Karera emphasized the straightforward processes for registering businesses, the support provided by government agencies and the revenue authority, as well as the efficient reporting mechanisms in place for addressing challenges. The Rwanda Development Board's aftercare mechanism ensures that projects are monitored and supported to enhance their performance. Moreover, the real estate sector in Rwanda is experiencing steady growth, particularly in commercial spaces. Kigali City has been a focal point for real estate development, with active participation from the private sector and banking industry. Karera praised the partnership between these sectors, highlighting the low rate of non-performing loans in real estate projects. While Kigali remains a hub for real estate growth, Karera stressed the importance of expanding to other cities to foster national development. Cities like Mohanga and Musanze are witnessing infrastructure and real estate projects, indicating the need for growth beyond the capital. The influx of people attracted to Rwanda for business opportunities necessitates the development of residential spaces alongside commercial properties. Karera drew parallels with Dubai's real estate landscape, where a diverse range of international businesses and individuals occupy commercial and residential spaces. As Rwanda continues to attract global interest, the expansion of industries, tourism, and technology will drive the demand for accommodation and office facilities across different cities. The imminent completion of the airport in Begesera is poised to further spur real estate development, creating a demand for housing, hotels, motels, and other amenities to support the influx of travelers and airport staff. Karera emphasized the need for strategic planning to ensure that Rwanda is equipped to accommodate the growing business landscape and infrastructure developments. In conclusion, Rwanda's commitment to fostering a conducive environment for investors, coupled with the steady growth in key sectors like industrialization, tourism, and real estate, positions the country as a promising destination for businesses looking to tap into Africa's emerging markets.