Tue. Feb 25th, 2020

UK-Africa Investment Summit bolsters Rwandan products in European markets

Rwandan Akabanga (Chili oils) (PHOTO/Net)

By George Kalisa

Made-in-Rwanda products gained grip, greater visibility and farther penetration on the United Kingdom (UK) market and Europe in general in spite of emerging packaging issues of the chili oils also known as AKABANGA, an oversight that the Rwanda Development Board (RDB) pledged to fix as soon as possible.

The Rwandan delegation took to the occasion to offer insights on the doing business environment in Rwanda, which they described as “enabling”

“My investments especially in agribusiness are steadily growing because of the enabling investment climate created by the Government of Rwanda through its investment body (RDB),” SINA Gerard, Rwandan business guru, the Founder and Managing Director of ENTREPRISE URWIBUTSO locally known as NYIRANGARAMA told The Light Magazine at the end of the Summit.

“Very nice and more opportunities to invest in Rwanda. We have a very nice and enabling environment,” said Rugira Jean Bosco through a tweet.

Hosted by the UK PM, Boris Johnson, the Summit that brought together businesses, governments and international institutions from 21 African countries and the UK saw RDB promoting a wide range of investment opportunities in the land of one thousand hills and one thousand smiles, a vigorous campaign whose  peak was a Business Roundtable Breakfast, which H.E Paul Kagame attended.  

H.E Paul Kagame giving his remarks at the Business Roundtable Breakfast in London (PHOTO/Courtesy)

The Business Roundtable Breakfast, organized by RDB and Rwandans living in the UK was, also, an opportunity to invite the UK business community to the CHOGM2020 Business Forum in the capital, Kigali. Rwanda that joined the Commonwealth Heads of Government Meeting (CHOGM) in 2008 will host the 26th edition from June22-27.

Meanwhile, President Kagame who led a senior delegation of about 50 people mostly investors said that the timing for this Summit was good.

“(…) I would like to take this liberty to broad points. The first is that yesterday’s UK-Africa Investment Summit was successful. I believe we will see positive momentums in 2020 in terms of the relationship between United Kingdom and Africa, including Rwanda,” observed President Kagame while at King’s College London on January21.

“The timing is good. Britain is looking to re-imagine its global trade and investment arrangement. And later this year, the world’s largest new free trade area will become operational in Africa covering nearly the entire continent.   

Sustainable financing infrastructure, trade and investment, growth opportunity areas and clean energy transformation were some the themes.

The irresistible ordor and taste of AKABANGA respects no social and economic limitations a factor which explains its growing popularity on the domestic and overseas markets despite the ‘repelling’ packaging.

Rwandan tycoon SINA Gerard (L), Clare Akamanzi (Centre)and other delegates at the UK-Africa Investment Summit (PHOTO/Courtesy)

“Akabanga popular among Presidents and ordinary delegates who’ve seen it before,” Clare Akamanzi CEO, RDB tweeted during the Summit.

“Yes we are going to work with him [SINA Gerard] to improve packaging,” added Akamanzi .

Akamanzi took the UK business community through Rwanda’s investment success story.

“In 2010, we registered US$ 400 million in investments. Last year, we registered over US$ 2.4 billion, our highest registration to date, up by 23% from 2018,” she said.

 On the sidelines of the concluded Summit the Governor of the Central Bank of Rwanda (BNR), John Rwangombwa officiated the Market Close ceremony at the London Stock Exchange during which the first Rwandan Franc denominated bond was launched.

SINA Gerard (standing in a red tie), the Founder and MD of ENTREPRISE URWIBUTSO at a Business Roundtable Breakfast in London recently (PHOTO/Courtesy)

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