A BLESSED PLACE TO BE AT

Officially known as the Republic of Rwanda, or Kinyarwanda, the small hilly, fertile country of 13 million people is blessed with 365 days of cool and medium weather conditions. They proudly call it the 'land of thousand hills,' a land so elevated that it is at about a 1,000 metres above sea level at the lowest point and 4,500 metres at the highest. Mountains line up in the west, while savanna can be seen in the southeast. The country abounds in lakes, adding to the overall scenic charm that has been a tourist attraction. Largely rural and agricultural, Rwanda has of late registered a leap in tourism that fetches respectable foreign exchange. Rwanda has peace, lovely weather, liberal policies, good governance, and cost-effective and youthful labour. The combination is ideal for investment.

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Rwanda had reforms captured and reflected in 4 indicators which strongly impacted its regulatory business environment. These were:

1. In starting a business, Rwanda made starting a business easier by exempting newly formed small and medium-size enterprises from paying the trading license tax for their first two years of operation. This improved Rwanda's ranking on the indicator from 51st in the 2019 Doing Business Report to 35th globally in 2020.
2. In dealing with construction permits,Rwanda went up by 25-points from 106th last year to 81st globally. This was attributed to reducing the time to obtain a water and sewage connection. Rwanda also improved building quality control by requiring all construction professionals to obtain liability insurance on buildings once in use.
3. In the getting electricity indicator,Rwanda improved the reliability ofpower supply by upgrading its power grid infrastructure. This led to the indicator improving from 68th to 59th globally.
4. The enforcing contracts indicator saw the highest jump from 78th to 32nd globally. This was largely due to the new small claims procedure and reduction of court fees.

Kigali has been ranked the second most popular destination in Africa for hosting international conferences and events by ICCA, International Congress and Convention Association. Rwanda's popularity as a preferred MICE destination stems from its simplified visa process that allows nationals of every country in the world to get a visa on arrival in addition to its easy accessibility, due to the multitude of flight options offering connectivity to Kigali and the rest of Africa through the national carrier Rwandair.

A MAJOR REGIONAL HUB

Rwanda's government itself has taken the initiative to make it a regional trade, logistics, and conference hub. That would see several new international business class hotels, a convention center in downtown Kigali, a new inland container terminal and bonded warehouse in Kigali. The government says it “has also invested in expanding the fleet for the national carrier RwandAir and is pursuing US authorisation for a direct flight from Kigali to the United States.”

Relations with the US have flourished. As per government websites, bilateral trade in 2020 totalled $60 million. “Rwandan exports to the United States have grown significantly over the last 10 years.”

The World Bank recently said in a report: “With the support of the International Monetary Fund and the World Bank, Rwanda has made important economic and structural reforms and sustained steady economic growth rates for over a decade until COVID-19 and its impact threatened to reverse the trend., “After a strong rebound in 2021 from the COVID-19 induced-contraction in the preceding year, the economy faced multiple challenges in 2022—pandemic scars, headwinds from the war in Ukraine, climate-related shocks, and mounting inflationary pressures. Despite these challenges, real GDP grew by 8.2% in 2022.”, The CIA calls it a “fast-growing Sub-Saharan economy.”

USAid says: “The Vision 2020 plan created by the government aims to make Rwanda a middle-income country by year 2035. Data trends suggest that Rwanda is actively moving toward achieving this goal.” Rwanda's leading sectors include energy, agriculture, trade and hospitality, and financial services. The economy is overwhelmingly rural and heavily dependent on agriculture, notes the government. The World Bank says: “Strong growth in the services sector over the past decade, particularly in construction and tourism, has contributed to overall economic growth. GNI per capita was $830 in 2019.”

YOUTHFUL COUNTRY

The country is landlocked. This is where the African Great Lakes region and Southeast Africa converge. Kigali, the capital, is located in the middle. For the world outside, the name could suddenly bring memories of a genocide. That's old story. Rwanda has seen a decent democracy bringing not only reconciliation, but also progress and unity.

It would be interesting to note that the country boasts of a predominantly young population. Perhaps one of the youngest in any country. The Germans and Belgians have ruled Rwanda and provided it with the basics of governing a modern country that aims at the future.

POLITICALLY STABLE

The Rwandan Patriotic Front that boasts of solid leadership runs the country. Paul Kagame, leader of the party, has remained the President since 1994. The party has maintained an iron grip because they want to avoid ethnic troubles that are typical of many African societies. However, Kagame's days have seen a system that is well-appreciated by the international community., The statute, adopted in 2003 after a referendum, says in clear terms: “Political organizations are prohibited from basing themselves on race, ethnic group, tribe, clan, region, sex, religion or any other division which may give rise to discrimination."

Parliament has 61% seats filled by women, suggesting their important role.

LEGAL SYSTEM

The legal system has been drawn from German and Belgian statutes and has been supplemented by traditional law. It gives an independent status to the judiciary. Rwanda has received praise from the Human Rights Watch for its legal system. Transparency International, which tracks corruption in governance, has lauded Rwanda and rated it as the fifth cleanest of 47 Sub-Sahran countries.

The country has been admitted to the United Nations, African Union, Commonwealth of Nations, OIF and the East African Community. It is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of Congo: all countries that have made significant progress.

LEAP IN MINING

The government website says: “Rwanda is one of the world's largest producers of tin, tantalum, and tungsten, and also exports gold and gemstones. Rwanda also possesses a variety of minerals such as silica sands, kaolin, vermiculite, diatomite, clays, limestone, talcum, gypsum, and pozzolan.

“Small-scale mining accounts for around 80 percent of the country's mineral output. The government is eager to formalize the sector, attract international mining investors, and increase processing of minerals in the country.

"A new Rwanda Mining, Gas and Petroleum Board was established in 2017 to coordinate government efforts in these sectors. Potential investors should note that Rwanda is subject to Section 1502 of the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act, which includes the 3Ts and gold.”

Leading sub sectors that are listed include Tin Ore, Tungsten, Niobium-Tantalum and Gold., Opportunities abound in the fields of mineral exploration, Tin, Coltan, and gemstones, industrial mining equipment and in forging partnership with local mining companies Mineral trading and smelting are other opportunities.

One of the fastest growing capitals in Africa, Kigali is building a new airport which would boost international connectivity. The city is estimated to contribute 41% of the national GDP. It claims an annual 4% urbanization leap. The 21 to 27 degree Celsius temperature and zero humidity are factors that add to the city's charms.

As for visitors, there are quite a few attractions in Rwanda. Kigali hosts a beautiful memorial for the 250, preserved in Kigali., The NIYO art gallery and Inema Art Centre are two major attractions for art lovers. The Kimironko Market is the place to look for all that's uniquely Rwandan when it comes to clothing, bags, fabrics, arts and crafts.

For fruit lovers, Rwanda offers avocados, mangoes, pineapples, passion fruit, bananas, and strawberry., The Nyungwe National Park in southwest Rwanda near the border with Burundi is another tourist attraction. Nyungwe is one of the oldest and biggest rainforests of the continent., 000 metres above sea level at Rusizi River, 2023 in Kigali, 000 leaders that reflects Africa's diversity, 3Ts, 000 who died in the 1994 genocide. One standing witness to the country's sad history is the Nyamata Church.