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Rwanda woos investors at global summit

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By Tullah Stephen

Rwanda is capitalizing on the ongoing Global African Summit in Kigali to woo investors for some of its key projects geared towards the realization of the country’s vision 2020. The government through Rwanda Development Board (RDB),  invited investors for the two-day summit that began on Monday, to bid for several projects in Agriculture, Infrastructure, Manufacturing and ICT sectors.

Francis-Gatare-the-CEO-of-RDB-speaking-at-the-dedication-ceremony-at-Marriot-hotel-Kigali.
Francis Gatare the CEO of RDB speaking at past event.

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In the manufacturing sector the government has welcomed bids for the construction of a US$9.9 million pharmaceutical plant for the production of medicament. Data from RDB shows that country imports about US$50 million of pharmaceuticals every year. “The government has been making efforts to leverage investors to make sure we can have pharmaceutical products manufactured in the country at an affordable cost,” said Mr Gatare RDB’s chief executive officer.

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Rwanda currently imports over 95 per cent of pharmaceuticals which include oral solids, suspensions, suppositories and infusions. The market size for pharmaceutical drugs according to RDB, is mainly influenced by the existence of national health insurance system.

The government is also encouraging investors to venture into the country’s nascent packaging industry. The ban on plastic bags by the government in 2008,  has since created a demand for the production of paper bags and biodegradable packaging materials. Figures from RDB indicate that the country imported overUSD122.3 million for packaging materials over the last few years. Opportunities in this sector according to Mr Gatare include the production of Paper packaging, Glass bottles, metals and corrugated iron sheets.

The Rwandese government is also seeking investors to venture into the development of a standard gauge railway line that is set to cost us$1.2 billion.

In the agricultural sector, the Rwandan government is hoping for PPP arrangement to develop a flower park in Rwamagana District in a bid to increase export of non-traditional and high value project. The US$7.5 million project is expected to produce 44 million stems per day. In addition to the flower park the government is looking to set up a US$31 million fresh fruits and vegetable whole sale market as well as a potato processing plant.

“Rwanda has a lot of potential in the manufacturing sector. We currently import certain products that can be locally produced and have excess for export,” said Mr Gatare

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