Rwanda - Country Information
Ease of business registration as well as low crime and corruption rates are among the many reasons Rwanda was ranked the most business-friendly country in East Africa and the second most business-friendly nation in Sub-Saharan Africa1.
The Rwandan government wants to do more by implementing additional business-friendly market reforms. These plans include simplifying bureaucracy, reducing corruption and increasing government spending on public works projects.
Rwanda’s economic growth in 2017 was 6.2%, following an average annual GDP growth of 8% between 2001 and 20152. This steady growth was achieved while maintaining stable inflation and exchange rates. Rwanda hosted the World Economic Forum on Africa in 2016, a testament to its increasing stature in the African market.
By 2020, the government aims to transform Rwanda into a middle-income country with good governance, skilled human capital, a vibrant private sector, world-class physical infrastructure, and a modern agriculture and livestock industry.
After the 1994 genocide, Rwanda made a successful transition to political stability, with the implementation of democratic institutions. The current government has maintained law and order and carried out important administrative reforms. Different institutions have been created to aid the process of national reconciliation, further underpinning the country’s continued stability and socio-economic growth.
Venture to Rwanda
Rwanda has a youthful population, with approximately 60% aged under 25. In 2008, the Rwandan government decided to switch the country’s entire education system from French to English, contributing to the long-term development of an internationally-ready workforce.
Much of Rwanda’s growth has been driven by strong tea and coffee exports, along with an increasingly prosperous tourism sector. Mining is another major industry and source of foreign revenue.
Rwanda is a member of several regional economic blocs, including the African Union (AU)
Commonwealth, the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA).
1: World Bank, 2017
2: World Bank, 2001-2017