Rwanda bets on driving investments portfolio to $4.6bn

Rwanda is making significant strides in attracting investments and boosting its economy through a new national investment strategy. Michelle Umurungi, Chief Investments Officer at the Rwanda Development Board, recently discussed the country's efforts to ease the cost of doing business and attract both local and foreign investors. Speaking at an engagement event in Nyagatare, Umurungi highlighted the importance of reaching out to local stakeholders and investors in secondary cities like Nyagatare. The event aimed to showcase the vast opportunities available for investments across the country and encourage local businesses and aspiring investors to tap into Rwanda's growing sectors. Umurungi emphasized that Rwanda's focus on creating an investor-friendly environment has led to significant improvements in ease of doing business. The Rwanda Development Board (RDB) has been working to streamline processes, provide essential information about investment opportunities, and engage with investors at all levels. By organizing investment forums in local districts, RDB aims to bridge the gap and ensure that local investors are aware of the diverse investment prospects within their regions. Nyagatare, a key sector identified for driving up investments, is renowned for its agribusiness and dairy farming activities. However, Umurungi revealed that there are untapped opportunities in areas like ecotourism, wildlife conservation, education, and healthcare. By broadening the scope of investment options, RDB is paving the way for a more diversified and robust economy. With the new investment strategy targeting a goal of raising $4.6 billion in investments, Umurungi outlined the progress made so far. The initial target of 2.2 billion Rwandan francs has been surpassed, and the focus is now on allocating investments across various sectors such as agriculture, ecotourism, and energy. Collaboration with districts and other organizations is crucial to attracting the necessary capital and driving economic growth. Rwanda's commitment to fostering a conducive investment climate and expanding opportunities for investors reflects its proactive approach towards economic development. By leveraging its unique strengths and resources, Rwanda aims to emerge as a vibrant investment hub in the region, attracting both local and foreign investors looking to contribute to the country's growth trajectory.