French firms eye Rwanda for investment

Representatives from seven French companies in various sectors have expressed interest in investing in Rwanda.Led by Novafrica Developments, a consulting firm specialized in East Africa business development, —the investors are in the country for four days to explore opportunities and partnerships.“To begin with, the companies want to distribute to Rwandan counterparts and later produce from Rwanda,” said Marc Schneider, the General Manager of Novafrica Developments.They target investments in sectors such as energy, ICT, manufacturing, agriculture and infrastructureSome of the companies represented include engineering firm, Automatique et Industries (A.I) and Approtec, which trades and supplies, as well as STRACAU, which specializes in trading and supplying industrial valves.They also include Asolution, which offers solutions for low cost and referenced internet websites, DIFUSELEC, manufacturer for LED lighting systems, and renewable energies, and hybrid systems for autonomous lighting systems and renewable energies and hybrid systems. APITECH, which provides architecture and software services.The move could boost Rwanda’s trade with France, which was estimated between US$5 and US$10 million last year. Statistics from Rwanda Development Board show that the country’s investments accelerated to US$476.5 million in the second quarter of this year, up from US$220.4 million the same period last year.According to RDB Chief Operations Officer, Tony Nsanganira, government is ready to partner with some companies in energy and software development.The Private Sector Federation PSF) is coordinating and facilitating the visiting team and their Rwandan potential partners through provision of information.

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French firms eye Rwanda for investment