INVESTMENT
Francis Gatare, CEO of the Rwanda Development Board
INVESTING IN RWANDA ' S SUCCESS
How Rwanda is increasingly becoming one of the leading foreign direct investments destinations in Africa
A recent Foreign Private Capital Census( FPC) report released by the National Bank of Rwanda indicates that foreign direct investments( FDIs) in Rwanda increased by 78.1 per cent-- from $ 257.6 million in 2013 to $ 458.7 million in 2014.
According to the FPC report, the biggest percentage of FDIs in Rwanda came from Mauritius, which registered $ 113.5 million worth of investments.
The volcanic island nation was followed by Switzerland at $ 106.2 million and the United States at $ 70 million. In fourth position was Luxembourg, which pumped $ 52.6 million into Rwanda’ s economy. Kenya, which came in 7th place, was the biggest investor from the East African region, having registered $ 28.3 million worth of inflows.
The FPC report also revealed that between 2009 and 2014, 338 for- eign-owned investments were registered with pledges to invest a total value of $ 2.6 billion. Of these, 211 are currently operational, 69 are still in implementation phase, while only 32 have been confirmed to have closed shop.
The mining sector took the lion’ s share, attracting up to $ 136.2 million, while ICT raked in $ 116.1 million. Investments in tourism stood at $ 71.8
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