Rwanda saw a 32% increase in investment in 2024

The Rwanda Development Board (RDB) reports that Rwanda recorded $3.2 billion (about Rwf4.48 trillion) in investment pledges, a 32.4% increase over 2023 investment promises.

Manufacturing accounted for 43% of the 51,600 employment created by these investments, according to the 2024 RDB annual report released on April 5.

Asia topped the list of investment origins with $907 million invested in 100 projects. This is equivalent to 37.4% of the total amount spent in Rwanda.

Africa ranked second with 188 projects totaling $579.3 million, or 23.9% of the total investments, while the Americas came in third with 39 projects totaling $485.6 million.

Just over $404 million in European investment was allocated to 52 projects. About $41.5 million was donated by the Middle East for 11 projects, and $8.3 million was spent in three projects by Oceania.
According to the RDB report, Rwandan investments made up 23.9% of the total, or $782.8 million, used to fund 191 projects.

Important investment initiatives include those from businesses like Parklane Group, National Cement Holding, Bio Usawa Biotechnology, and Rio Tinto Exploration Rwanda. Bestred Technology Development Rwanda, Ramba Investment Africa Holdings, TTEC CX Solutions Rwanda, and Basigo Rwanda are also present.

The manufacturing and finance sectors are at the forefront.

Manufacturing—which includes agroprocessing—led other industries in the creation of jobs and reported investments, supporting Rwanda’s ongoing economic development. According to the report, almost $1.35 billion, or 43.6%, of the total investment went toward manufacturing.

By investment value, the finance and insurance industry ranked second, with little more than $811 million in registered investments.

According to the report’s authors, this indicates great investor confidence in Rwanda’s expanding financial services sector and points to fresh chances for cross-sector assistance, financial inclusion, and innovation.

As to their observations, the Kigali International Financial Centre (KIFC) “attracted high-quality investments, fostered innovation in financial products and services, and strengthened Rwanda’s global financial linkages.”

Investments in real estate projects totaled $377.7 million. Together, the real estate, finance, and insurance sectors, as well as the manufacturing sector, accounted for 77.9% of all registered investments in 2024.