The memories of 1994 Rwanda genocide are slowly fading, but the fact remains that 800, 000 lives were lost. The landlocked nation is taking steps to be Africa’s Switzerland, and it has outperformed its continental peers. Since 2000, Rwanda has recorded an average economic growth rate of 7.8%, and the nation is preparing to welcome delegate to World Economic Forum, African gathering.
According to Mark Bohlund, an African economist with Bloomberg Intelligence in London, securing an attractive business environment is essential for growth and sustainability of African states. By improving the governance of the state and provision of tax incentive, Rwanda has given a better example despite being a landlocked country. However, the civil rights group accused the government constitutional changes that give President Paul Kagame an opportunity to run for the office of president for the third term.
President Kagame said that Rwanda has set the pace to show how proper long-term planning and investment can lead to sustainable development of a state. The government has been imposing tight restrictions on freedom of speech and people have given views about this on various social media platforms.
Maurice Toriotich, the chief executive officer of Kenya Commercial Bank Ltd.’s Rwandan unit, said that the state is working to maintain fiscal and monetary policy for inclusive growth of the economy. He projected that there’s high probability of foreign direct investment to rise by 36% in 2016.
