Rwanda Registers over US$ 2 billion Worth of Investments in 2018

Rwanda Registers over US$ 2 billion Worth of Investments in 2018

The Rwanda Development Board (RDB) in 2018 registered 173 investment projects in Rwanda worth US$ 2.006 billion against a US$ 2 billion target, set for the year.

This is an increase of US$ 331 million or approximately 20%, when compared to the investments registered by RDB in 2017. During 2017, US$ 1.675 billion worth of investments were registered.

Of the total investments registered in 2018, an estimated 26% represents export oriented projects. Across sectors, manufacturing, mining, agriculture and agro-processing accounted for 57% of investments registered.

Other sectors that attracted significant investments were tourism, healthcare, business services and ICT.

The largest share of the 2018 investment registrations or 49%, was posted by domestic investors, while Foreign Direct Investment registrations represented 47% of the total.

Joint ventures (local and foreign investors) represented the balance of approximately 4% of all investments registered during the year.

In comparison, in 2017, domestic investment registrations accounted for 28% of the total, while foreign investment registrations represented 62% and joint ventures the remaining 10%.

Some of the largest investors during 2018, who registered expected investments over US$ 70 million, included: Emerald Park ltd; Millennial Construction Ltd; Rwanda Innovation Fund; Jali Transport; and Mara Phones.

Other notable investment projects in the same period included:

Andela Software Development’s Rwanda based Pan African Hub; a first Coltan/Tantalum refinery by PRG from Macedonia; new local production of a global beer brand – Heineken in Rwanda by Bralirwa; a large scale fertilizer blending plant in Rwanda by OCP from Morocco; a steel rolling mill by MasterSteel from Rwanda;

A mosquito bed nets production plant by Vision Garments from Rwanda; a steel manufacturing plant by AARSAL STEEL from India; a mineral smelting company by Luna Smelter of Rwanda; hospitality development around Lake Kivu by GEMS of Rubavu; and mobility solutions development by Volkswagen.

Project registration values reflect each investor’s projected five (5) year estimation of operating and capital investments to be made, regardless of whether financed by equity or debt. Historically, registered projects typically take 3 years on average to become fully operational.