Invest in

Remarkable
Rwanda

0
Telephone: +250 727775170 General inquiries: info@rdb.rw Business registration: http://org.rdb.rw/busregonline
Rwanda, incredible success story of Africa
1st 2nd
most improved nation in the world fastest growing economy in Africa
1st
in Africa for network readiness 2nd
in Africa for doing business
2nd
in the world for ICT promotion 6 hrs
to register business (fastest in East Africa)

95% 1st
network coverage by 4G fibre in Africa for govt. transparency

1st 5th
safest country to walk at night in the world
in the world for women in parliament
1.2m
4th 3rd tourist arrivals in 2016 alone
in the world for gender equality African MICE destination
1
Sources: UN (UN-HDI), World Bank, WEF, Global and Africa Competitiveness Report, ICCA, Global Gender Gap report, Gallup, ICCA, RDB, BSC (majority 2017)
Rwanda at
a glance
Population size Govt. & Parliament
12.1 million Presidential republic
Bicameral parliament

Official languages GDP per capita

Kinyarwanda, USD 729 per capita
French, English, Swahili

Literacy/Employment GDP (6 yr growth)

70.5% / 83.3% USD 8.1bn (7.3% p.a.)

Currency/exchange rate Ratings

Rwanda Francs (RWF) B+, “stable” - Fitch
~RWF 847/USD B, “stable” - S&P
2
Sources: World Atlas, World Bank, Fitch, S&P - all 2016 except: population and Fitch rating 2017, exchange rate 2018
Rwanda is ...
Safe and secure – 5th safest country to walk at night worlwide
... low risk Stable – lowest debt ratio in region; stable credit ratings
High level of governance - #1 govt. transparency in Africa

2nd fastest growing economy in Africa; 2nd FDI/GDP in region

... fast growing
Most improved nation in human development in the world

2nd for doing business in Africa; 6hr business registration

... business friendly
Growing bilingual and educated workforce (~47,000 grad./yr)
and modern
Modern – 95% network coverage; 4th in global gender equality

Free trade agreements with ~50 countries

... a regional Preferential access to immediate proximity market of 60m
platform Strong African hub potential; highly connected African airline
3rd MICE ranking in Africa; +18 ranks in 3 years

... home to rich Rich raw material availability; 17+ agri-inputs

natural advantages Highest gorilla population in Virunga Massif; 1.2m tourists
3
Rwanda, low risk
Safe & stable, secure place to live

4
 Low risk

Rwanda recognized globally and in Africa as a safe and secure place

% feeling safe to walk at night 5th Safest place to walk at night in the world

97
92 88 87 87 87 86 83 83 83

Singapore Uzbekistan Iceland Norway Rwanda Slovenia Hong Kong Denmark Switzerland Spain

#1 #2 #3 #4 #5 #6 #7 #8 #9 #10

Source: 2017 Gallup global law and order report 5

 Low risk

High stability reflected both through both regional and

international stable credit rankings

Lowest debt ratio in the region ... ... with stable international credit ratings

Public debt to GDP (%) Credit ratings –

52.7
48.6
40.5 38.4 35.4 34.6
2017: B+ (stable)

Kenya Ethiopia Tanzania Burundi Uganda Rwanda

2016: B (stable)

Source: World Bank, Fitch 2017 rankings, S&P 2016 rankings 6

 Low risk

Strong governance with low corruption and reliable police force

Rwanda 4th least corrupt country in Africa ... ... with high confidence in local police

Global Corruption Perceptions Index % confident in local police force

#1 Botswana 61
#2 Seychelles 60 Rwanda 95

#3 Cabo Verde 55 Western Europe 79

#4 Rwanda 55
OECD 72
#19 Tanzania 36
#20 Ethiopia 35 Eastern Africa 67
#32 Kenya 28 Worldwide 66
#37 Uganda 26
Sub-Saharan Africa 60
#42 Burundi 22

Source: 2017 Gallup global law and order report; 2017 Corruption Perceptions Index – Transparency International 7
Rwanda, fast growing
Most improved nation in the world

8
 Fast growing

Rwanda displays strong economic growth and high level of investor

confidence

Second highest growth in East African region ... ... with strong level of FDI versus GDP

Average GDP growth 2010-2016 (%) FDI/GDP in 2016

10.2% 2nd in Africa

4.3
3.9 3.8
7.3% 3.4
6.8%
6.0% 5.7% 5.3% 2.3
4.0%
1.6

Ethiopia Rwanda Tanzania Kenya EA Uganda SSA Tanzania Rwanda Uganda Ethiopia Kenya Burundi
average average

Source: World Bank 2017 9

 Fast growing

Most improved nation in human development and competitiveness

Highest human development growth in the world ... ... and most improved competitiveness in SSA

25 year Human Development Index growth Global competitiveness rank

2.9 Most improved 99

2.8 2.8 96
(up 6 places)
84
2.1 1.9 64
1.7
47 52
45

Rwanda Mozam. Mali Niger Uganda Sierra Mauritius South Rwanda Bots- Namibia Kenya Cote
Leone Africa wana d’lvoire

Africa Africa
#1 #2 #3 #4 #6 #9 #1 #2 #3 #4 #5 #6 #7
rank rank

Source: WEF 2016-2017 Global Competitiveness Report 10

Rwanda, business
friendly and modern
The ultimate place of business

11
 Business friendly and
modern

Rwanda ready for business with three strong fundamental enablers

Strong doing business Young, educated & Highly modern: World

platform – 2nd in Africa increasingly bi-lingual class ICT infra. & 4th in
for doing business workforce world gender equality
12
 Business friendly and
modern

Rwanda has an enabling foreign investment environment

Business friendly Multiple incentives – Efficient, Commitment to

regulation largely for exporters supported processes foreign ownership
#2 in Africa for Ease of Preferential corp. Highly digitalized and No restrictions to
Doing Business1 and income tax rate (15% if efficient administration foreign ownership
Global Competitiveness2 50% exported) (6 hours to register a
business) No restrictions on
#4 least corrupted Accelerated first year capital flows
Country in Africa depreciation rate 50%3 Free business
registration
33% total effective tax, Exempt capital gains &
lowest in East African 0% tax if HQ in Rwanda One-stop center for
Community region investors with
Duty-free imports of dedicated investment
machinery & inputs4 acceleration team

1. World Bank; 2. WEF; 3. Subject to investing USD50k in business assets; 4. In accordance with EAC customs reg.
Source: RDB Investors Presentation 13
 Backup
Business friendly and
modern

Investors continue
to be amazed with
Rwanda's quick and Fastest processes in East Free business
easy business Africa (max 6 hours) registration
registration
Fewest procedures in East Register your business for
Africa, online registration, free in less than 6 hours
minimal documents

14
 Business friendly and
modern

Continuous business environment improvements reflected in

41 business reforms implemented since 2007

Legal Reforms Institutional reforms Automation

• Company Act • Created RDB by merging 8 • Free online registration for

• Insolvency Law government institutions to all companies
• Labor Law create • Online registration of mortgages
• Electronic Transaction Law RDB’s One-Stop Shop (both movable and immovable)
• Credit Information Systems Law • Credit reference • Online application and processing of
• Intellectual Property Law bureau created construction permits
• Law Of Contract • Commercial courts established • Online filing of taxes and e-payment
• Arbitration Law • Kigali International Arbitration • M-declaration and payment of taxes
• Capital Market Law Center established for SMEs
• Special Economic Zones Law • Association of engineers and • Integrated Court Cases
• Competition and Consumer architects formed • Management Systems
Protection Law • Automated land management system
• Investment Code • Universal Visa regime
• Land Law
15
 Business friendly and
modern

Kigali Special Economic Zone (KSEZ) lays a

platform for businesses to flourish ...

Highly-serviced
land offering
incentives & Expedited and
serviced land
Incentives and
subsidies
EPZ1 status (export
>80% outside EAC)

subsidies
• Phase I – 98 ha • Subsidized plot rate • 0% corp. income tax
• Phase II – 178 ha • 30% down payment • No import duty on
• Phase III - ~153 ha (in • 2 year grace period inputs & equipment
plan) with 10% int. (PII = 1 • Free trade conditions
• Roads, water, elec... year with 15% int.) • Min. govt. processes

1. Export Processing Zone 16

 Business friendly and
modern

... providing premium positioning and connectivity, especially for

manufacturing and industry

Key services offered in the SEZs ... ... to a variety of industries & companies
Power, water and sanitation Heavy and light manufacturing industries

ICT infrastructure like fiber optic plus wires
networks 4G and 3G
Onsite and offsite roads links to airports and
main roads
Large scale users industrial plants
Commercial wholesalers
Chemical, pharmacy and plastics

Firefighting network Warehousing

Sewage network Tourism and service industry

ICT
Security
Logistics
17
 Business friendly and
modern

Additional nine SEZs have been mapped and land dedicated

for development
Musanze Nyagatare
• 164 Ha park, not yet expropriated • 50 Ha park, fully expropriated
• Not yet expropriated • Feasibility and engineering
• Engineering studies completed study complete
Nyagatare
Nyabihu Rwamagana
Musanze
• 44 Ha park, fully expropriated • 80 Ha park
• Feasibility and engineering study complete • Feasibility and engineering
Nyabihu
• Zoning and demarcation complete study complete
Kigali special • Expropriation completed on 50Ha
Muhanga • Ring road completed
economic zone
• 63 Ha park, not yet expropriated
• Feasibility and engineering study complete Muhanga
• Not yet expropriated Kicukiro SME Park
• 43.2 Ha park,
Rwamagana • Feasibility and engineering
Rusizi
• study complete
• 45 Ha park, fully expropriated Bugesera • Construction works for murram roads
• Feasibility and engineering
started
study complete
• Zoning and demarcation complete
Rusizi
Most advanced
Huye Bugesera
Huye • 330 Ha park, fully expropriated
• 50 ha park, fully expropriated • Feasibility and engineering study
• Feasibility and engineering complete
study complete • Construction of phase I, 100 ha is at 40%
• Zoning and demarcation complete

18
 Business friendly and
modern

Rwanda ready for business with three strong fundamental enablers

Strong doing business Young, educated & Highly modern: World

platform – 2nd in Africa increasingly bi-lingual class ICT infra. & 4th in
ranking workforce world gender equality
19
 Business friendly and
modern

Rwanda has a young, increasingly educated workforce

Evolution of population in Rwanda (2000-2016) Enrolment rate in Rwanda by education level

Million people
~70% of Rwandan
20 population under 97% 98%
30 years of age
15 80%
12
11
9 10
10 8

5 33%
28%
15%
0 5%
n.a 1%
2006
2000
2001
2002
2003
2004
2005

2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Primary Secondary Tertiary
Ages >50 Ages 30-39 Ages 10-19
Ages 40-49 Ages 20-29 Ages 0-9 2000 2012 2016

Source: Oxford economics, Statistical yearbook 2017, African Economics Outlook 20

 Business friendly and
modern

Population increasingly fluent and/or

bi-lingual in Western language

Western languages more prominent

Number of people fluent at language (aged 16 and above) Rwandans under 30 years old twice as likely
4.47M to have fluency than those over 65 years old
Total for Rwanda
Urban population only English as instruction language (from lower
primary onwards) was introduced in 2008

Government of Rwanda is taking action

1.60M
to further improve language education
0.97M
0.75M 0.59M In 2012, Mentor Program introduced to
0.54M 0.40M 0.26M support use of English in the classroom

Kinyarwanda French English All 3 In 2014, RTEP was established to send

Rwandan teachers to the US for training

Note: "All 3" means Kinyarwanda, French & English

Source: Rwanda Population and Housing Census 21
 Business friendly and
modern

Readily available talent base of ~47,000

graduating students per year
Top tier universities
have established
Breakdown of total
branches in Rwanda
2k 47k
18k ICT: ~2,500
Sciences: ~1,200
Engineering: ~2,600
7k
Business & Law: ~2,200
20k
Agri: ~2,700
Health: ~7,700
Education: ~7,400
Arts: ~1,200
VCT Polytech Undergrad Graduate Total
Social sciences: ~19,400

Note: VCT = vocational training (up to three 3 years); Graduate includes advanced degrees, masters, PhD
Source: Rwanda Ministry of Education; UN 22
 Business friendly and
modern

Finding skills partners: Many skills can be

found in Rwanda's 8,400+ cooperatives

Two select examples of Rwandan cooperatives:

• Provides support to ~7,000 • Enables over 1,200 women

dairy farmers through milk • Has provided 600+ quality
purchases knitting machines
• 704 direct members, >50% • Business & technical training
women (384 women) has been provided to women
• Coordinates milk collection in 17 associations
process through six Milk • Supported by USAID and
Collection Centers (MCC) Women for Women
24
Source: Press research, Rwanda registered cooperatives
 Business friendly and
modern

Rwanda ready for business with three strong fundamental enablers

Strong doing business Young, educated & Highly modern: World

platform – 2nd in Africa increasingly bi-lingual class ICT infra. & 4th in
ranking workforce world gender equality
25
 Business friendly and
modern

Modern ICT environment; world class communications infrastructure

Rwanda national fiber optic backbone Key components meet international requirements

Kagitumba
Rwanda is connected to global broadband through
Uganda 3 main fiber optic cable routes out of the country
Gatuna • Kigali  Gatuna, Rwanda  Mombasa, Kenya
• Kigali  Kagitumba, Rwanda  Mombasa, Kenya
North East
Tanzania • Kigali  Rusumo, Rwanda  Dar es Salaam, Tanzania
DRC
Kigali
West Rwanda is equipped with BPO industry standard
South
Rusumo
technology to provide fast, reliable communication
• Redundancy: routes have 2+ lines and Ring Topology
• Routes to Kagitumba and Rusumo are both
Burundi
underground and overhead (along power lines)
• MPLS1: connect WANs2 between onshore/offshore
95% national coverage
Global connection via Seacom submarine cables
1. Multi Protocol Label Switching 2. Wide Area Network
Source: Broadband Systems Corporation (BSC) 26
 Business friendly and
modern

Future Kigali Innovation City to create ideal

operating environment for ICT and tech.

• 4G LTE technology, data hosting facilities

World class ICT and cyber security centers
infrastructure

• Four world class educational institutions providing

Talent skilled labor
accessibility • Low cost interns readily available

Eco-system • Well-established innovation and technology

companies clusters
synergies • Co-creation and partnership opportunities with
innovative start-ups

Accessibility • Close proximity to city center (10 minute)

• Short drive to the airport (15 minute)
• Well maintained basic infrastructure

Note: Picture taken from Conceptual Masterplan – not in existence yet 27

 Business friendly and
modern

World leader and African pioneer in gender

equality

Highest women in Parliament in the world

1 2 3 4 5 17 100

Rwanda Bolivia Cuba Iceland Sweden Ethiopia Kenya

4th in global gender equality

1 2 3 4 5 76 115

Iceland Norway Finland Rwanda Nicaragua Kenya Ethiopia

Source: World Economic Forum, UN Entity for Gender Equality, 2017 28

Rwanda, regional
platform
A true East African hub

29
 Regional platform

Rwanda has privileged access to markets via four diverse free

trade agreements

Regional agreements Intercontinental agreements

Everything but Arms agreement

EAC free trade agreement
European Union
East African Community

COMESA free trade agreement

Common Market for Eastern and
Southern Africa AGOA free trade agreement
United States of America

30
 Regional platform

Rwanda's regional proximity market counts ~60 Mn people...

Rwanda's proximity market population, 2016 (Mn people)

Mn people
11 2 60
60
11

40 16

20
20

0
Eastern DRC Western Rwanda Burundi Southern Total
Tanzania1 Uganda2

1. 8 westernmost regions: Kagera, Kigoma, Mwanza, Shinyanga, Tabora, Rukwa, Mbeya, Singida 2. 7 southernmost districts: Rakai, Mbarara, Kabale, Kisoro, Rukungiri, Bushenyi, Masaka
Source: The World Bank; Interviews with Local Champions; Press Search 31
 Regional platform

... and Rwanda is uniquely positioned to serve this market

with a logistics advantage vs. other regional capitals

Rwanda
Kampala
Burundi
Kigali DRC
Uganda
Kinshasa
Tanzania
Dar-Es-Salaam Rwanda's preferred access

1. Some exemptions to the duty free rule can be applied on a case by case basis by member Countries on sensitive goods (e.g.: wheat flour)
Source: Press Search 32
 Regional platform

Rwanda is increasingly connected globally and within Africa;

enabling exports and travel for business and leisure

Amsterdam
London
Brussels
New York Istanbul
Beijing
Doha
Abuja Dubai
Lagos Guangzhou
Mumbai
Cotonou Addis Ababa
Abidjan Juba Cyangugu
Accra Douala Entebbe
Nairobi
Mombasa
Libreville Dar Es Salaam
Brazzaville Kilimanjaro
Bujumbura Lusaka
Kamembe Harare

Existing direct connections to Kigali Johannesburg

Cape Town
Planned direct connections to Kigali

Source: Rwanda Civil Aviation Authority, Expedia 33

 Backup
Regional platform

Overview of existing and planned direct connections to/from Kigali

Breakdown per airline

Airlines City of Destination Country of destination Airlines City of Destination Country of destination
Bujumbura Burundi Bujumbura Burundi
Nairobi Kenya
Entebbe Uganda Entebbe Uganda
Kamembe Rwanda
Brussels Belgium Nairobi Kenya
Douala Cameroon
Lagos Nigeria Nairobi Kenya
Dar Es Salam Tanzania
Johannesburg South Africa Entebbe Uganda
Lusaka Zambia Amsterdam The Netherlands
Dubai UAE
Mumbai India Entebbe Uganda
Libreville Gabon
Brazzaville Congo Istanbul Turkey
Harare Zimbabwe
Kilimanjaro Tanzania Bujumbura Burundi
Mombasa Tanzania
Juba South Sudan Addis Ababa Ethiopia
Accra Ghana Doha Qatar
London UK
Abuja Nigeria Entebbe Uganda
Cape Town South Africa
Cotonou Benin Brussels Belgium
New York USA
Beijing China
Guangzhou China 34
Source: Rwanda Civil Aviation Authority, Expedia
 Regional platform

Increasing connectivity has supported remarkable jump to be a

top MICE destination in Africa

Rapid progress as a MICE destination ... ... with many important global events hosted

Rwanda ICCA Africa ranking • Forum for Agriculture Research in Africa

(meetings based)
• The Global Africa Investment Summit
#3
• Meeting of the Partners to the Montreal Protocol

2017
#7
#13 • Africa Carbon Forum

• Africa Hotel Investment Forum

#21 • The World Academy of Sciences

• African Union Summit

2018
• Transform Africa Summit
2013 2014 2015 2016
• ...
Source: International Congress and Convention Association report 2016 35
Rwanda, home to rich
natural advantages
A place of abundant natural
resources

36
 Home to rich natural
advantages

Rwanda's rich raw materials a strong starting point, for example for
agri-business and mineral processing

Top Rwanda exports by value ($m) Total exports in 2016: ~$621m

108.2
Agri-business inputs

79.7 Mineral processing inputs

73.5
59.5

39.6 35.0
20.8 17.1 12.9 11.7 8.8 7.0 6.8 6.5

Petrol Gold Tea Coffee Ores2 3 Tin ores3 Rice Wheat Fats & Tungsten Palm oil5 Bran6 Cereal Bovine7
% of oils1 oils4 ores3 flours
total 17% 13% 12% 10% 6% 6% 3% 3% 2% 2% 1% 1% 1% 1%
exports

1. Petroleum & other bituminous oils; 2. Niobium, tantalum, vanadium or zirconium; 3. And concentrate; 4. Animal & veg.; 5. And fractions; 6. Incl. sharps & residues; 7. Live 37
Source: UN Comtrade 2016
 Home to rich natural
advantages

17 available agri-inputs from large and established products to high

potential products

Cassava Potatoes Bananas1 Sweet pot. Maize Beans

Large & Largest agri- 2nd largest agri- 3rd largest agri- 4th largest agri- 5th largest agri- Potential
established production production production production production
0.4 MT/ year
3.2 MT/ year 2.2 MT/ year 0.2 MT/year 0.9 MT/ year 0.6 MT/ year

Tea Macadamia Coffee Poultry Soybeans

Ideal weather & High quality nuts Ideal weather & Easy to grow 4 new varieties
Fast risers soil soil
Poultry
introduced by
1 Mn trees by 7 Mn chicken & Rwanda Agri-
25 kT/ year 2020 16 kT/ year 158 Mn eggs p.a. Board in 2013

Cashew nuts Avocado Dairy Essential oils Honey Pyrethrum

High Ideal conditions High-fat Potential for 3 to 4 harvests/ Premiumization High yield
potential varieties consolidation year vs. 2 in SA potential
Good for 27MT/ year of
intercropping 0.2 MT/ year 0.8 MT/ year 91 kT/ year refined extract

1. For beer
Source: FAO 2014 production data; MINAGRI; NAEB; RDB Export Dep.t; Press Search 38
 Home to rich natural
advantages

Rwanda's natural beauty offers an exciting tourist

destination in the heart of Africa

39
 Home to rich natural
advantages

Rwanda has achieved remarkable progress and development in

leisure tourism ...

2016 achievement 6 yr change New tourist sites developed/to be developed since 2016

Already up and running ...

1,200,000 ~80% 2016 Amakoro Songa Lodge
total visitor arrivals increase

2016 Five Volcanos

88,200 ~95% 2017 Wilderness Bisate Lodge

park visits increase
2017 Singita Kwitonda Lodge Groundbreaking

9,900 ~110% Coming soon ...

hotel rooms increase

2017 Gihaya Island, Rusizi District resort hotel

167 ~95% 2018 One and Only Nyungwe House refurbishment

flights per week increase
2018 One and Only Gorilla Nest Lodge and Golf Resort
40
Source: RDB Tourism Vision 2024
 Home to rich natural
advantages

... realized through an exciting product offering based on natural

advantages

Global visa free regime... ...supportive ecosystem... ...exciting sights & activities

Global visa free regime Network of international Activities range from natural
kicked off in January 2018 – standard hotels and (e.g. gorilla visits) to man-
visa on arrival for all increasing flight network made (e.g. cycling)

41
Several strong
global and
regional brands
already in
Rwanda ...

42
Japanese investments in Rwanda are operating with
success, with room for growth…
Total Japanese investment commitments in Rwanda amount to USD 17.5M and 1,400 planned jobs

Organic Solutions Rwanda, has Bloom Hills Rwanda has

been operating in Rwanda for successfully experimented
more than 10 years in the field since 2015 to cultivate
of Organic Microbial Technology Gentian flower that is now
for sanitation in agriculture. being exported from Rwanda
to Japan

Rwanda Nut Company is seizing

the opportunity in the Rwanda Rudniki is operating
Macadamia nuts processing in the mining sector since
industry since 2012. 2008

Proprietary & confidential 43

... across wide range of economic sectors in this
remarkable nation

Agriculture and agro- BPO and ICT Knowledge Finance Tourism

processing

Manufacturing Mining and quarrying Energy/water Infrastructure Housing/real estate

44
 Leading Nutritious Foods Producer for region

Pursuing 4
subsectors for Leading manufacturing position aligned to
competitive strengths
accelerated
focus with
objective to BPO ecosystem catalyzed through anchor
close DEALS player and surrounding ecosystem players

Knowledge hub for training & developing a

skilled workforce for local/regional needs
45
 Clearly defined opportunities within each focus
subsector
BPO and
BPO ICT
& ICT Nutritious Foods Knowledge Hub Manufacturing

▪ Attract large anchor ▪ Attract flagship MNCs & ▪ Attract high caliber ICT ▪ Attract global affordable
player and structure regional players to set education players for luxury players in
strategic deal to kick- up operations in Rwanda region skills training. garments- sustainable
start sector. for the region. ▪ Build professional sourcing & community
▪ Identify & attract ▪ Attract investors to build language education empowerment/upskilling.
complementary players the value chain (private offer. ▪ Attract investors in light
to build the BPO single companies & ▪ Develop high standards manufacturing
Ecosystem & expand consortiums). tourism & hospitality (electronics & vehicle
scope of BPO services. ▪ Support growth of local training capabilities. assembly) & construction
▪ Develop and attract champions in the sector. materials (ceramics,
firms into the KIC glass, natural materials.
46
 For more information, please contact RDB at

Rwanda Development Board (RDB)

KN 5 Rd, KG 9 Ave
P.O. Box 6239, Kigali, Rwanda
Get started today Tel (Local): 1415
Tel (International): +250 727775170
General Information: info@rdb.rw
Investment-related queries: investorfeedback@rdb.rw

Online Business Registration: http://org.rdb.rw/busregonline

47