Rwanda attracts $300m investments from 24 Chinese firms

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Twenty-four more companies from China were registered in Rwanda in 2020, and they attracted investments totaling 300 million dollars to the country, according to the government’s investment arm.

 Most Chinese investments in the central African nation are into construction and real estate, mining, ICT, manufacturing and hospitality, according to a statement issued on Thursday by the Rwanda Development Board (RDB).

 The board said that it was currently encouraging more diversified investments in sectors beyond real estate and manufacturing, the two main sectors Chinese companies invest, and to further partner local entrepreneurs who have innovative, promising projects.

 The board said that though many businesses in Rwanda had been affected by COVID-19 pandemic and related restrictive measures since in 2020.

 Some sectors are still profitable while not operating at full capacity, according to Theoneste Ntagengerwa, spokesperson of the Rwandan Private Sector Federation.

 He suggested them as potential business for investing, including manufacturing anti-pandemic materials and medical supplies, agriculture and agricultural product processing, which generally continued operating during the pandemic.

 He also said that investors would consider investing in sectors essential to the economy.

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