africa profile
Rwanda on the rise
I n addition, the country has undergone significant improvements over the years, making it one of the fastest- growing nations in Africa with an annual growth rate of 7.5% since 2007. With an unemployment rate of 13.3%, the country enjoys a GDP of $11-Billion (Source: World Bank) and a B+ stable rating. Overall, Rwanda is a low-risk region with the lowest debt ratio in the region as well as stable credit ratings and a solid currency. It’s also one of the safest countries for solo travellers, making it an ideal investment destination. Rwanda’s economy is particularly business-friendly, with an impressive ranking of second for ease of doing business in Africa and first for government transparency (Source: Rwanda Development Board July 2023) Rwanda is a country with a promising future, as it pursues various capital projects aimed at driving growth and prosperity. With a population of 13 million, of which the vast majority below the age of 25, its economy has the opportunity to benifit significant future consumer spending income.
Rwanda is also IT-ready, boasting a 97% 4G LTE network coverage and ranking first in the East African Community for network readiness. Additionally, it ranks 5th in Africa and has more than 7 000 km of internet fibre, making it an ideal investment hub. Ease of doing business R wanda has developed an investment-friendly atmosphere by implementing business-oriented rules, supporting priority sectors, simplifying processes, and expressing its commitment to foreign proprietorship, making the country an attractive destination for investors. The country also opens access to African and global markets through rigorous free trade agreements and serves neighbouring markets such as Uganda, Burundi, Tanzania, and the DRC through regional connections. Investors looking to invest in Rwanda can enjoy diverse incentives through a new Investment code. An international company that invests $10-Million or more and sets up its headquarters or regional office in Rwanda, is eligible for a preferential corporate income tax rate of 0%. Investors operating in mass transport, energy production, manufacturing, ICT & e-mobility are also eligible for a preferential corporate income tax rate of 15%.
1 7 Issue 2 – 2023
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