Rwanda seeks investors for $23b in lucrative projects to boost economy

Rwanda is seeking international investors to tap into 15 bankable projects worth $22.93b to boost its economy.

President Paul Kagame presented the projects on Monday during the Global Africa Investment Summit (TGAIS), held in London. Kagame addressed tens of international business executives and said his government offers red carpet treatment and safe environment. “Invest in Rwanda, in East Africa, and your money will be safe, you will have high returns; countries and citizens will benefit and we will develop together,” he said.

Key showcased projects include those in infrastructure, tourism and agribusiness. In infrastructure, the government intends to spend $930.4m on roads around the country, energy production, which includes extraction of oil and electricity generation, worth $2.7b.

The Mombasa-Kampala-Kigali and the Dar Es Salaam-Isaka–Kigali Railway worth $18b are also on the table. A successful bidder will construct Rwanda’s biggest airport for $700m.

In agribusiness, there is $83.2m up for grabs, through a $3m avocado project in Eastern Rwanda, a $10m beans processing plant, a $1.2m fertilizer distribution project, a $21m flower park and a $48m fresh wholesale food market in Kigali special economic zone.

Rwanda has already developed a conducive environment that allows businesses to thrive. The country, located in East Africa with 100 million people, has undergone radical reforms over the last five years, making it the easiest place to get credit, pay tax and process construction permits.

The World Bank’s ‘Doing Business’ 2014 Report index ranks Rwanda the 2nd most improved country in the world and the 2nd easiest place to do business in Africa.

Over 30 bankable projects in Sub Saharan Africa were presented as ‘in need of investment’.


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