1. Sustained High Economic growth
- Over 8% average year-on-year real GDP growth rate since 2007 till date, stable inflation and currency depreciation.
- GDP growth rate one of the highest among African economies and neighboring countries.
2. Robust Governance
3. Access to Markets
- Market of over 12 million people with a rapidly growing middle class
- Rwanda is a hub for a rapidly integrating Arica: It is centrally located in the region and is part of East African Community (EAC) Common Market and Customers Union with market potential of over 132 million people. It is also signatory to the 2018 Kigali African Continental Free Trade Area Agreement (ACFTA) currently being implemented under the African Union.
4. Investor Friendly Climate
5. Untapped Investment Opportunities
- Vast opportunities for investment, particularly in the following sectors:
- Infrastructure: Opportunities in rail, maritime and air transportation to further open up Rwanda to the rest of the world as an economic hub.
- Agriculture: Rwanda’s main economic activity accounting for about 33% of GDP. Potential for growth through increased productivity and value addition for both export and local consumption.
- Energy: Big opportunities in both on and off grid power generation. Goal is to have universal electricity access by 2024 from the current 51% access.
- Tourism: Currently Rwanda’s leading foreign exchange earner with a diverse range of attractions and products suitable for both foreign and local tourists. Meetings, Incentives, Conferences & Events (MICE) sector growing fast as well.
- Information and communication Technology: Priority sector for Vision 2020, Kigali Innovation City being developed, home to Carnegie Mellon University Africa and others such as Africa Leadership University and the African Institute for Mathematical Sciences (AIMS Rwanda).
- Other attractive sectors include Real estate and construction, financial services and mining
Preferential trade regimes
Rwanda enjoys non-reciprocal preferential treatment under the Generalized System of Preferences (GSP), the U.S. African Growth and Opportunity Act (AGOA), and the Everything-but-Arms (EBA) preferential scheme of the European Union.
Rwanda is a member of the African Union (AU), the Common Market for Eastern and Southern Africa (COMESA), the Economic Community of Great Lakes Countries (CEPGL) and the East African Community (EAC).
In addition, it has bilateral agreements with individual countries, including China, Malaysia, South Africa, the United Arab Emirates (UAE), Republic of Israel, Morocco and Thailand.
The establishment of the Customs Union has implied the harmonization of tariffs on imports from non-EAC countries (the common external tariff – CET); the elimination of tariffs on goods originating from the EAC states and fulfilling the conditionality stipulated under EAC Rules of Origin (elimination of internal tariffs); the removal of non-tariff barriers (NTBs); and the harmonization of common rules of origin.
Rwanda also has double taxation Treaties with Barbados, Belgium, Jersey, Mauritius, Morocco, Singapore, South Africa and the EAC partner states.
Business opportunity – Large market size
+12 000 000 people
- EAC (East African Community) :
+132 000 000 people
- COMESA (Common Market for Eastern & Southern Africa) :
+390 000 000 people
- CEPEGL (Economic Community of Great Lakes Countries) :
+84 000 000 people
Rwanda has created an enabling INVESTMENT ENVIRONMENT
Business friendly regulation
- #2 in Africa for Ease of Doing Business and Global Competitiveness
- 7 year Corp. income tax (CIT) holiday for investors investing more than $50M in the country
- Business environment assessed annually resulting in new investor-friendly reforms each year
Multiple incentives for exporters & priority sectors
- Preferential CIT rate: 15% if 50% of production exported outside EAC or for priority sectors – 0% tax if regional HQ in Rwanda
- Accelerated first year depreciation rate of 50%
- Duty-free imports of machinery & inputs within EAC
Efficient, supported processes
- Free business registration
- Highly digitalized and efficient administration (6 hours to register a business)
- One-stop center for investors with dedicated investment acceleration and aftercare team
Commitment to foreign ownership
- No restrictions on foreign ownership
- No restrictions on capital flows
- Capital gains exemption on sale or transfer of shares
For more details on investment incentives or setting up in Rwanda, see the Law on Investment Promotion and Facilitation or the services provided by the One Stop Centre. Please reach out to the investment team at firstname.lastname@example.org for additional questions.”