At the rate, Rwanda is developing you might want to look at multiple ways to join in the fun, with the annual growth exceeding 10% year over year. We want to equip you with the best knowledge about the private economic sector, to help you succeed in your business endeavors. We will first examine the major industries in which are coming from, then how to start your them.

Why should you start a business in Rwanda?

Rwanda was designated the 2nd easiest place to do business in sub-Saharan Africa by the World Bank. Where investors can register a business online or in-person in as little as six hours through the Rwanda Development Board (RDB) website. With the location of Rwanda being in the East African Community, you get the benefits of easily exporting goods to the neighboring countries that have a combined 146 million consumers. The final point is that Rwanda is among the top 4 nations in Africa where there is no corruption and a low inflation rate, more about a local’s guide to Rwanda here.

Rwandan Economic Industries

Agriculture

While a large percentage of Rwanda lives in rural areas, that depend on agriculture and trade. There is still room for improvements, with an estimated 61% of the soil being fertile there is plenty to be done in this sector. Rwanda’s current crops include coffee, tea, beans, potatoes, rice, wheat, sugarcane, and more.

Land prices on average can be found here [https://irpv.rw/], but on average you can expect to pay $10,000 for 10,000 square feet of agricultural land. or $64,000 for a 64,000 which is a regular football/soccer field size. You can reference the above-mentioned website for crops pricing and create your business plan, accordingly.

Tourism

The country of Rwanda in recent years has become a large touristic hub with over 1.6 million tourists every year. A growing Visit Rwanda initiative has led to a massive 14% stake of tourism revenue in annual Rwanda’s GDP. You can start any business from the list below, and all you have to do is register your business, find a venue to lease, and see if you need proper licensing, then you are all set. You can see a list of the current successful attractions here, or what other people do for leisure here.

1. Restaurants
2. Art Gallery
3. Aquatic parks and attractions
4. Water and city tours

Infrastructure

With a fast-growing country, the need for sturdy infrastructure also rises, from road constructions, transportation, energy, and telecommunications. Rwanda currently allocates 10% of the annual spending to infrastructure. The country currently provides an extensive list of projects investors can tackle on the Rwandan Development Board site, and also provides a wide range of incentives there.

Manufacturing

With the abundance of affordable skilled labor, manufacturing industries are also a big business opportunity. You will get access to the 146 million consumers in East African Consumers, with the rising middle class.

Information and Communication Technology

As businesses move to Rwanda, they will need advertising mediums, community apps, search engine optimization, websites, mobile apps, and more. With the rising tourism and manufacturing industry in Rwanda, good websites go a long way in acquiring new customers. With the development of great roads, energy, and telecommunications, new opportunities present themselves like the following:

1. Cloud computing infrastructure in East Africa
2. Delivery and logistics software
3. Transportation apps
4. Marketplaces
5. Job portals
6. Classifieds
7. Repair
8. Digital learning tools

Feel free to comment on the ones I missed below.

Financial services

With growing businesses, comes banking needs. Loans, mortgages, insurances, and more. Within a developing country, mortgages are always a necessity for most infrastructure projects. The RDB (Rwanda Development Board) has a wide variety of incentives for investors in this field.

Real estate

You can never go wrong with acquiring or building real estate. But the advantageous part is that you will be building real estate in a 10% year over year growing nation, with large population growth, and rising middle class. Opening a real estate business in Rwanda is as straightforward as it gets. Register your business then start building.

We are excited to see what you build in this fast-growing county, we just wanted to give you an idea of all the important sectors investors might look at. Some we didn’t go to extensively include energy and construction sectors. Feel free to expand on your projects in the comments below.