africa profile
Registered investors who invest an equivalent of $50-Million and contribute at least 30% of equity are eligible for a corporate income tax holiday of seven years. Export incentives also exist, based on meeting export threshold. Talent attraction and immigration incentives, include a two-year entrepreneurship visa for start-ups, a two-year talent visa for qualifying international students, and the option for an investor who invests $250 000 to recruit three foreign employees without demonstrating that their skills are lacking. Investors looking to benefit from attractive incentives in the construction, general manufacturing, and agro- processing industries can also explore fiscal and non- fiscal incentives. Investment opportunities in Rwanda • SUSTAINABILITY - The Kigali Green City Project is a sustainable development for middle-income residents and comprises green spaces, efficient energy, local sourcing, and circular living. The 16-ha pilot size is expected to start in mid-2023, while the whole city is estimated to be 600ha. The project will consist of 680 housing units which require an estimated investment of $86-Million, generating sales revenue and commercial rentals such as shopping malls and leisure facilities. Investors can benefit from the fact that the feasibility study has been completed in Sept 2021. Additionally, the project secured EUR40-Million in funding from the government of Germany through the KFW Development Bank, with detailed designs set to be completed in the second half of 2023.
Sustainable packaging is another important investment opportunity in Rwanda. The project involves investing in recycling plants and sustainable packaging plants to create carton and biomaterial based sustainable packaging solutions. Various investments are available depending on the size of the project. The Plastic Recycling Plant is estimated to generate $14-Million in annual revenue, using local waste collection systems. The Paper Recycling Plant is expected to generate $15-Million in annual revenue and a Biomaterial-Based Sustainable Packaging Plant is estimated to yield $15-Million in revenue per annum. A Carton Packaging Plant for branded tea exports is another initial opportunity to target 5 000 TPA paper cartons and tea bags estimated to generate $15-Million in revenue per annum. This project is a fully private investment. • Rwanda is set to see exciting developments in the AGRICULTURAL AND AGRO-PROCESSING sectors, with projects such as the Gabiro Agro Business Hub and the Gako Meat Project. The former will cover around 10 000 hectares of fully irrigated land and offer lease opportunities to investors, with a focus on job creation and improving food security through increased crop production. Meanwhile, the Gako Meat Project is a substantial operation spanning 5 919 hectares and sets out to modernise the agriculture industry in the country. To complete the project, an investment of $63-Million will be required.
• KIGALI INNOVATION CITY is a 61-hectare mixed-use
development project that aims to build Rwanda as a pan-African knowledge economy. The city combines university campuses, research and development facilities, Grade A office spaces, student housing, science and technology museums, retail, and hospitality. The city has already attracted a community of highly skilled students from more than 40 African countries. Currently, project development activities are ongoing, including the design and construction of the first mixed-use building set to be completed in 2024. The city has already secured three anchor
tenants, including Carnegie Mellon University - Africa.
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Issue 2 – 2023
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