Rwanda is diversifying investment options for investors as the country showcases other emerging towns outside the capital. Investors, government officials and representatives of financial institutions gathered in the Eastern province of Nyagatare, to explore business opportunities, whose agribusiness potential could create jobs and improve living standards of its residents. CNBC Africa’s Flora Limukii spoke to the Trade & Industry Minister, Prudence Sebahizi for more.
Rwanda is diversifying investment options for investors as the country showcases other emerging towns outside the capital. Investors, government officials and representatives of financial institutions gathered in the Eastern province of Nyagatare, to explore business opportunities, whose agribusiness potential could create jobs and improve living standards of its residents. CNBC Africa’s Flora Limukii spoke to the Trade & Industry Minister. Out of 30 districts we have in the country, Nyagatare is the most connected district in terms of connection between the district and other countries. It shares borders with two countries, United Republic of Tanzania and Uganda. And when you look at interconnectivity, the road network, Nyagatare can connect to the northern province. It can also connect to the capital province. It can also connect through the eastern province to the city of Kigali. And through the northern province it can also connect to west. And through Kigali it can also connect to the southern province. So Nyagatare can be a business hub in terms of connectivity, infrastructure which is available. It also has potential for investment because Nyagatare is known for the best place in Rwanda for farming, both livestock and farming. Nyagatare has industries, agro-processing industries like milk powder plant which has been established and has the capacity to process all the milk that is produced in the country. So there are so many opportunities but just to mention a few, we're talking about accessibility, we're talking about availability of raw materials and we're also talking about rich in natural resources. We have established industrial parks. If you want to invest, it's very easy to know where to invest because we do the zoning and master plan and you are sure of what you are going to do for sustainability of your business. Secondly, we have one-stop center. In terms of business registration, you don't have to go around looking for different institutions to facilitate you. You just go to one-stop center of Rwanda Development Board and you get all the services for your business registration. We have a list of incentives. You can enjoy taxi holidays for a given period of time depending on the sector you are investing in. We have preferential tariff, electricity preferential tariff. We call them industrial tariff for investors in manufacturing and we have many more other facilities that we put in place to facilitate you to build the capacity in order to reach the standard requirement for the market. If you look at it from government facilitating and investment, I can say government has been hand-holding investors to take them to the market to the extent that the government also allows you to access the market. Even if we know Rwanda has joined a number of free trade areas, we have made Rwanda a global market from 13 million people to the global market to the African market of 1.4 billion people and even beyond Africa. So, Rwanda can give you access to any market.
Theme: Rwanda's Nyagatare District as a Hub for Investment and Economic Growth
Rwanda is stepping up its efforts to attract investors by showcasing emerging towns outside the capital, Kigali. The Eastern province of Nyagatare is becoming a focal point for business opportunities, particularly in the agribusiness sector. Recently, investors, government officials, and representatives of financial institutions gathered in Nyagatare to explore the potential for investment that could create jobs and improve living standards for residents. CNBC Africa's Flora Limukii had a conversation with Trade & Industry Minister Prudence Sebahizi to delve deeper into Rwanda's economic strategy. Nyagatare, located in the eastern part of Rwanda, is strategically positioned as the most connected district in the country. With borders shared with the United Republic of Tanzania and Uganda, Nyagatare serves as a key link for trade and commerce between these nations. The district boasts an extensive road network that facilitates access to various provinces and regions, including the capital city of Kigali. Minister Sebahizi emphasized that Nyagatare's infrastructure and connectivity make it a prime location for business activities. The district is renowned for its agricultural potential, offering favorable conditions for both livestock farming and crop cultivation. Additionally, Nyagatare hosts agro-processing industries like a milk powder plant, which has the capacity to process the country's entire milk production. This establishes Nyagatare as an attractive destination for investors seeking opportunities in the agriculture and manufacturing sectors. Minister Sebahizi highlighted the government's initiatives to support and streamline the investment process in Nyagatare. The establishment of industrial parks, zoning plans, and one-stop centers for business registration aim to simplify the investment process and provide necessary support to investors. Rwanda Development Board's one-stop center offers comprehensive services for business registration, eliminating the need for investors to navigate multiple institutions. Incentives such as tax holidays, preferential tariffs on electricity, and other benefits are available to investors to encourage investment and business growth in Nyagatare. Minister Sebahizi emphasized the government's commitment to facilitating market access for investors. By leveraging Rwanda's participation in multiple free trade areas, the country has expanded its market reach from 13 million people domestically to over 1.4 billion people in the African market and beyond. Rwanda's strategic location, coupled with supportive government policies and infrastructure development, positions Nyagatare as a promising hub for investment and business growth. As Rwanda continues to diversify its investment options and promote economic attractiveness, Nyagatare's agribusiness potential and connectivity are set to drive sustainable development and prosperity for the region.
"Rwanda can give you access to any market."
Rwanda, Nyagatare District, investment, business growth, agribusiness, infrastructure, economic development