Kenyan investors wowed by Rwanda’s investment climate

Kenyan investors are of the view that the conducive business environment in Rwanda makes it easy for more investments. This was revealed yesterday during a one-day business conference, which was organized by Rwanda High Commission in Kenya. In his opening remarks, the High Commissioner, James Kimonyo, said Rwanda had done well to create an enabling business environment that has made the country the ideal investment destination. “As you all know, Rwanda is the first place to do business in East Africa and third in Africa according to the World Bank Doing business report. The Economist Magazine ranked Rwanda the ninth fastest growing economy in the world. Rwanda has maintained an average of 8 percent economic growth for the past ten years. All these achievement milestones are due to the visionary leadership of President Paul Kagame,” said Ambassador Kimonyo. “President Kagame is a very efficient CEO that’s why shareholders (Rwandans) want him to lead them beyond 2017”. Kimonyo revealed that Kenya was the leading investor in Rwanda, with a portfolio estimated at $430 million saying it was a testimony that one does not need to cross the Atlantic Ocean to get huge investments adding that Rwanda had created an enabling environment to attract investors. “You can register your business online through the Rwanda Development Board and it will take just six hours for your business to be registered,” he explained. The Managing Director of Rich Management, Aly Khan Satchu ,who moderated the plenary session, showered President Kagame with praise saying that he had made brilliant moves leading Rwanda through an amazing journey of recovery. “Eight per cent of GDP growth is no mean feat for one of the most refreshing countries in the World, after the 1994 debacle,” he said. Speaking during the event attended by business investors, diplomats and economists, Equity Bank Rwanda Managing Director, Samuel Kirubi, shared his company’s experience investing in Rwanda. He spoke of the efficiency within which government bureaucracy through the Rwanda Development Board where licensing is a one stop shop and with the shortest time compared to other countries in the region. He informed the meeting that today Equity Bank can actually lend with securities such as land titles across the borders. “An investor with a security in Rwanda can secure a loan from a Kenyan bank based on securities established in Rwanda,” he illustrated adding that policy in Rwanda had made business environment predictable in the country. Addressing participants, the head of the Kenya National Chamber of Commerce, Charles Wako, invited compatriots to put their money in Rwanda citing a growing middle class, demand for housing and opportunities in the Agricultural and security sectors. Participants at the event looked fired up to start their business after the presentation on the doing business in Rwanda and asked questions ranging from the incentives that come with investing in Rwanda, access to credit and availability of land. The event which aimed to showcase the available investment opportunities was attended by investors, representatives of Kenya Chamber of Commerce, members of diplomatic community and Rwandans living in Kenya. The day was concluded by a reception where Ambassador Kimonyo hosted members of Rwanda community in Kenya to wish them a Merry Christmas and Happy New Year. Top Rwandan artistes Masamba Intore and Jules Sentore were present to entertain the guests.

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Kenyan investors wowed by Rwanda’s investment climate