Zim targets Rwanda

Source: Zim targets Rwanda | Daily News

HARARE – Zimbabwean investors are expected in Rwanda today to explore investment opportunities in various sectors, including ICT, agriculture, manufacturing, real estates finance and energy.

The 35-member business delegation led by Zimbabwe National Chamber of Commerce president Devine Ndhlukula will also be seeking partnerships with local firms as part of efforts geared at boosting trade between Rwanda and Zimbabwe.

The Private Sector Federation director for trade and business development Jeff Kamanzi, said his organisation had lined up a number of business-to-business meetings that feature Rwandans and the visiting business leaders.

“There’s no partnership between business bodies of the two countries currently, but we hope to sign a memorandum of understanding with the Zimbabwe Chamber of Commerce,” he said.

Rwanda has wide opportunities for investors in several areas such as airport ground handling, waste collection disposal, waste recycling plant, water transport infrastructure, road construction, rehabilitation and maintenance and cargo transportation. The eastern Africa nation is currently enjoying strong economic growth rates, creating new business prospects and lifting people out of poverty.

The Government of Rwanda is actively working to develop the economy and reform the financial and business sectors — improving the business climate dramatically between 2010 and 2016, increasing its rank from 139 to 62 on the annual World Bank Doing Business Report.

Rwanda’s major foreign exchange earners include mining, tourism, coffee, and tea, and continued growth in these sectors will be critical for economic development and poverty reduction.

Last year, the International Monetary Fund (IMF) said it would be important for Rwanda to boost the private sector role’s as the main engine for growth and investment if the country is to attain its goal of upper middle income status.

Rwanda has pushed up efforts to reduce trade imbalance by investing in “Made in Rwanda” — a trend that seeks to move the country to the balance of payment surplus in the next decades.

Through such efforts, IMF review team said Rwanda’s economy continues to perform well, with strong implementation of its IMF-supported programmes.