A delegation of Polish business executives is in Rwanda to explore potential partnership avenues of trade and investment with their Rwandan counterparts, banking on existing bilateral ties.

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In the second edition of Rwanda-Poland Business Forum which convened on February 7, a total of 18 Polish business executives and different Rwandan businespersons met in a roundtable discussion presided over by President Paul Kagame and his counterpart President Andrzej Duda who is on a state visit to Rwanda.

For context, the meeting aimed at positioning the private sector to streamline the implementation of two agreements signed earlier, in the field of trade and economic cooperation, and another in the fields of green technologies, environmental engineering, geology, and energy efficiency, as well as other ongoing economic projects between the two nations.

In his remarks, President Kagame said that for a long time, Polish investors have shown a keen interest in exploring new opportunities with Rwanda’s private sector, whereby the latter has been working hard to create an enabling environment for businesses to grow and innovate.

"Because of the tragedy our country experienced, we did not have the luxury of developing a strong private sector, early on. The little we had, we were able to multiply it, by prioritizing the needs of our citizens. That is the best investment we ever made.”

He added that in collaboration with partners, the country is now focused on developing key sectors, such as health, tourism, sports, and banking, with an ambition to become a regional hub for each sector and contribute to the implementation of the African Continental Free Trade Area.

"Our continent is also endowed with natural resources, essential to power the future of our global economy. Amid global crises, a decisive factor for resilience is how well the public and private sector can work together, to manage this immense wealth,” Kagame noted.

According to him, investors are taking notice of Africa’s young entrepreneurs, and betting on their creativity and talent, generating employment opportunities for many.

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President Duda said that Rwanda enjoys a growing interest from Polish entrepreneurs who take into account the stability and high potential of the local market, hence, becoming an ever more attractive trade and business partner.

"It should be no surprise that many polish companies are interesting in starting their projects here. Because this country offers so much needed stability, security, high level management, excellent investment conditions, a wealth of natural resources and a lot of hardworking ambitious people.”

Duda expressed optimism about hosting another business forum in Warsaw for Rwanda’s private sector alongside the potential visit of Kagame to Poland.

According to available data, there are at least four projects from Poland registered in Rwanda with a total investment value of $72.3 million creating over 330 jobs key sectors such as health, energy, ICT services and construction.

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Jeanine Munyeshuli, Minister of State for Public Investment and Resource Mobilization, said Poland and Rwanda possess unique strengths and resources that can be leveraged for mutual benefit.

"In recent years, Rwanda has emerged as a promising destination for foreign investments, focusing on sectors such as agriculture, manufacturing, technology, and renewable energy. On the other hand, Poland boasts A diverse economy of expertise in various industries.”

"By identifying synergies between our economies, we can unlock new opportunities for increased investments, partnerships and growth.”

She further explained different measures taken by the government to attract investment including the one-stop center at Rwanda Development Board, tax incentives, and other frameworks that contribute to the ease of doing business in Rwanda.

Łukasz Słoniowski, Director of the Polish Investment and Trade Agency, based in Nairobi, said that for the last couple of years, they have identified sectors in which Polish companies and Rwandan entrepreneurs can build their businesses efficiently.

"We can see a big opportunity to increase the participation of Polish companies in the production of goods, modernizing agriculture, development of infrastructure in rural areas, as well as digitization and innovation.”

He encouraged the participants to engage in Business-to-Business discussions to get information and prospective for future partnerships.

With eight years of presence in Rwandan market, Jerzy Pietrucha, CEO of Pietrucha Group –a Polish company specializing in the manufacturing of geotechnical solutions, said that the company decided to have operations in the country because of the existing awareness on matters of climate change and the move to improve infrastructure with sustainable technical solutions concerning green technologies.

"I would tell my fellow Polish business leaders to not just seek to export their products to Rwanda, the country’s economy is at a stage where it is seeking investors who are keen to create value locally. This is the correct approach in my view.”