- According to the latest data of the National Institute of Statistics of Rwanda (NISR) , the Information and Communication Technology sector recorded a growth of 29 per cent in 2020.
- MTN Rwanda is expecting 20 per cent growth in revenue driven by demand in services in 2020.
According to the latest data of the National Institute of Statistics of Rwanda (NISR) , the Information and Communication Technology sector recorded a growth of 29 per cent in 2020 .For most of the other sectors, the growth was in the negative due to the economic distortion created by the pandemic.
Gross Domestic Product at current market prices of ICT activities was projected to hit Rwf208bn against Rwf186bn in the previous year. MTN Rwanda is expecting a 20 per cent growth in revenue driven by demand in services in 2020. Internet services, gadgets, software, and programmes also recorded healthy growth. NSIR also reported that the agriculture sector grew by 1 per cent. The Health Sector largely driven by demand for medical services in response to the pandemic recorded a growth of 16 per cent respectively.
International Monetary Fund had projected that Rwandan economy would decline by 0.2 per cent due to the effects of the Covid-19 pandemic. The latest figures indicate that Rwanda’s gross domestic product (GDP) contracted by 3.4 per cent in 2020. The manufacturing sector declined by 4 per cent while services shrunk by 6 per cent largely due to lockdowns, constrained spending and travel restrictions. Hotels and Restaurants diminished by 40 per cent while education contracted by 28 per cent. The estimated GDP Per Capita in 2020, was $816 down from $836 in the previous year of 2019.
Rwanda has started countrywide vaccination. Consequently, Some Covid-19 restrictions such as working hours and easier countrywide movement, economic activity etc are expected to grow in the coming months. The hosting of the Commonwealth Games scheduled for June 21 this year is further increasing economic activity. The country is also set to host the Commonwealth Heads of Government Meeting which can boost economic activity
