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Rwanda projects to attract total investments worth US$3 billion (approx. Rwf3.3 trillion) in 2023, riding on the back of services provided by the One Stop Center at Rwanda Development Board (RDB), according to reports.
Rwanda projects to attract total investments worth US$3 billion (approx. Rwf3.3 trillion) in 2023, riding on the back of services provided by the One Stop Center at Rwanda Development Board (RDB), according to reports.
The RDB in its recently released annual report said that the investments are expected to come up in priority sectors such as manufacturing, agro-processing, construction, ICT, tourism, and mining.
The country received a US$1.6 billion total investment in 2022, a 26 per cent increase from 2020. But it fell well below US$3.74 billion received in 2021. The fall in FDI can be attributed to a tough global economic environment due to inflation and the impact of the Russia-Ukraine crisis. Manufacturing, financial services, and insurance accounted for 45.6 percent of total registered investments.
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Those sectors are expected to create 38.5 percent of the total jobs to be generated from investments. Domestic investments accounted for 39 percent, and Foreign Direct Investments (FDIs) came from China at 13 percent. This was closely followed by India at 11 percent, and Germany at 9 percent. Other leading sources of FDIs are the United States, Canada, the UK, South Africa, Kenya, and Nigeria.
