A two-day Rwanda-Mozambique Business Forum started in Kigali on Wednesday, March 22, as business leaders from both countries explore ways to best tap into business opportunities in their respective countries.

A delegation of 23 business leaders, members of Mozambique’s investment and export promotion body, Agência Para a Promoção de Investimento e Exportações (APIEX), involved in sectors such as mining, ICT, energy, gas and infrastructure, are in Rwanda for the business forum, the first official mission of its kind from Maputo.

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After the business to business sessions, the visiting delegation will visit different local companies to continue exploring investment opportunities with their Rwandan counterparts.

At the start of the meetings, Rwanda’s Minister of Trade and Industry, Jean Chrysostome Ngabitsinze, noted that business exchanges play an important role in fast-tracking the implementation of the African Continental Free Trade Area (AfCFTA) Agreement.

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The Minister said: "We are very happy as Rwandans to be doing business with our brothers and sisters from Mozambique; our two governments are committed to working together.”

"Our two governments are committed to doing whatever is possible for you to invest in a conducive environment.”

The Deputy Director General of APIEX, Custódia Paunde, encouraged Rwandans to invest in Mozambique. She said that her country was ready to facilitate them to access the Mozambique market.

She said: "The Government is implementing strategies to simplify investment procedures, improve the business environment and facilitate private investment by creating one-stop shops for company registration and business licensing.

"We have investment opportunities in sectors like Agriculture, mining, infrastructure, energy, industry, gas, and oil and we would be happy to provide any assistance you to invest in our country."

Nuno Maposse, an economic advisor from Maputo, shed light on the legal framework for investment and business opportunities in Mozambique. Mapose told Rwandan business leaders that his country especially offers opportunities in the "priority sectors” of oil and gas, agriculture, energy, infrastructure, manufacturing and tourism.

The two countries have set on a journey to bolster relations across different sectors, especially in trade where statistics show that there is still need for joint efforts to enhance trade volumes. In 2022, Rwanda’s exports to Mozambique were worth $33,728 while imports were valued at $1,940,334.

Jeanne Mubiligi, Acting Chairperson of Rwanda’s Private Sector Federation, commended the steadily growing trade relationship between the Rwandan and Mozambican business community.

"We have seen a number of investors both private and public companies, participating in the Rwanda international trade fair in Kigali and this has created more synergy and confidence in terms of investment partnerships and doing business between our investors.”

She added that this forum came at a time when PSF is focusing on creating more channels to facilitate its members to access both local and international markets through various linking events.

"There are quite interesting investment opportunities in various sectors in which I think our collaboration can thrive, especially in mining, infrastructure, manufacturing, ICT, energy, tourism, services, and agro-business among others.”

In May 2022, both private sector authorities signed a Memorandum of Understanding to promote and strengthen investment and trade cooperation between both countries, during a trade mission in Maputo.

This was followed by the creation of a collective investment company, Zambezi Holding, that will invest in different lines of business in Mozambique.

Under the MoU, the Private Sector Federation Rwanda and the Chamber of Commerce of Mozambique, agreed to, on a regular basis, exchange business publications, market survey reports, and other relevant materials on export trade and economic policies of their respective countries for the benefits of their respective business communities.

Among others, they also agreed to recommend and introduce each other to trade, investment and other cooperation opportunities and partners, encourage and assist various forms of cooperation between enterprises in each country in order to promote the development of economic and trade relations between the two countries, especially for small and medium-sized enterprises.