Africa Singapore Business Forum, 28 - 29 August Country Panel Presentation - Rwanda www.enterprisesg.gov.sg/asbf

1. 0
Invest in
Remarkable
Rwanda
Be part of something
special

2. 1
Rwanda at
a glance Population size
12.1 million
Official languages
Kinyarwanda,
French, English, Swahili
Literacy/Employment
70.5% / 83.3%
Currency/exchange rate
Rwanda Francs (RWF)
~RWF 847/USD
Govt. & Parliament
Presidential republic
Bicameral parliament
GDP per capita
USD 729 per capita
GDP (6 yr growth)
USD 8.1bn (7.3% p.a.)
Ratings
B+, “stable” - Fitch
B, “stable” - S&P
Sources: World Atlas, World Bank, Fitch, S&P - all 2016 except: population and Fitch rating 2017, exchange rate 2018

3. 2
Rwanda, incredible success story of Africa
2nd
Sources: UN (UN-HDI), World Bank, WEF, Global and Africa Competitiveness Report, ICCA, Global Gender Gap report, Gallup, ICCA, RDB, BSC (majority 2017)
fastest growing economy in Africa
2nd
in Africa for doing business
6 hrs
to register business (fastest in East Africa)
1st
in Africa for govt. transparency
5th
safest country to walk at night in the world
3rd
in the world for women in parliament
4th
in the world for gender equality
1st
African MICE destination
95%
network coverage by 4G fibre
2nd
in the world for ICT promotion
1st
in Africa for network readiness
1st
most improved nation in the world

4. 3
Economic Transformation from predominant agriculture to
services and industry
Services now
account for
about half of
all economic
activity – yet
agriculture
still a key
sector
14%
17%
44% 48%
30%
0
100
20
40
80
60
38%
4%
%
2005 2016
Agriculture
Industry
Services
Subsidies5%
Source: RDB
Breakdown of Rwanda's GDP by sector (%)

5. 4
Rwanda has privileged access to markets via four diverse free
trade agreements
EAC free trade agreement
East African Community
COMESA free trade agreement
Common Market for Eastern and
Southern Africa
Regional agreements Intercontinental agreements
Everything but Arms agreement
European Union
AGOA free trade agreement
United States of America

6. 5
Rwanda's immediate proximity market counts 60 Mn+ people...
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
60211
11
16
20
0
20
40
60
TotalSouthern
Uganda2
Western
Tanzania1
Mn people
Eastern DRC BurundiRwanda
Rwanda's proximity market population, 2016 (Mn people)

7. 6
Rwanda has achieved remarkable progress and development in
leisure tourism ...
~107%
increase
94,000
park visits
~117%
increase
10,500
hotel rooms
~69%
increase
380
flights per week
~103%
increase
1,349,000
total visitor arrivals
7 yr change2017 achievement
Source: RDB Tourism
New tourist sites developed/to be developed since 2016
Already up and running ...
2016 Amakoro Songa Lodge
2016 Five Volcanos
2017 Wilderness Bisate Lodge
2017 Singita Kwitonda Lodge Groundbreaking
Coming soon ...
2017 Gihaya Island, Rusizi District resort hotel
2018 One and Only Nyungwe House refurbishment
2018 One and Only Gorilla Nest Lodge and Golf Resort

8. 7
... realized through a supportive, attractive & exciting product
offering
Global visa free regime... ...supportive ecosystem... ...exciting sights & activities
Global visa free regime
kicked off in January 2018 –
visa on arrival for all
Network of international
standard hotels and
increasing flight network
Activities range from natural
(e.g. gorilla visits) to man-
made (e.g. cycling)

9. 8
Rwanda is increasingly connected globally and within Africa;
enabling exports and travel for business and leisure
Amsterdam
Brussels
London
Dubai
Addis Ababa
Doha
EntebbeAbidjan
Accra
Cotonou
Johannesburg
Bujumbura
Brazzaville
Nairobi
Dar Es Salaam
Kilimanjaro
Mombasa
New York
Beijing
Mumbai
Existing direct connections to Kigali
Planned direct connections to Kigali
Source: Rwanda Civil Aviation Authority, Expedia
Cape Town
Harare
Lusaka
Kamembe
Libreville
Douala
Lagos
Abuja
Guangzhou
CyanguguJuba
Istanbul

10. 9
All 3
0.40M
English
0.59M
0.97M
French
0.54M
0.75M
Kinyarwanda
1.60M
4.47M
0.26M
Urban population only
Total for Rwanda
Number of people fluent at language (aged 16 and above)
Population increasingly fluent and/or
bi-lingual in Western language
Rwandans under 30 years old twice as likely
to have fluency than those over 65 years old
English as instruction language (from lower
primary onwards) was introduced in 2008
Western languages more prominent
Note: "All 3" means Kinyarwanda, French & English
Source: Rwanda Population and Housing Census
In 2012, Mentor Program introduced to
support use of English in the classroom
In 2014, RTEP was established to send
Rwandan teachers to the US for training
Government of Rwanda is taking action
to further improve language education

11. 10
Identifying talent: Readily available skills base of
~47,000 graduating students per year
Polytech
20k
VCT
7k
18k 47k
Total
2k
GraduateUndergrad
Top tier universities
have established
branches in Rwanda
Note: VCT = vocational training (up to three 3 years); Graduate includes advanced degrees, masters, PhD
Source: Rwanda Ministry of Education; UN
Breakdown of total
ICT: ~2,500
Sciences: ~1,200
Engineering: ~2,600
Business & Law: ~2,200
Agri: ~2,700
Health: ~7,700
Education: ~7,400
Arts: ~1,200
Social sciences: ~19,400

12. 11
Rwanda, ready
platform for business
A resourced, connected platform

13. 12
Enabling business environment for foreign investment
7-year corporate income tax
holiday for large projects in
strategic sectors i.e energy,
exports, tourism, health,
manufacturing and ICT
Minimum required
investment of USD 50 Mn
Tax holidays
0% corporate income tax for
international companies
planning to set up regional
headquarters in Rwanda
Minimum required
investment of USD 10 Mn
15% corporate income tax
for:
• Strategic economic
sectors i.e. energy,
transport, affordable
housing, ICT, financial
services
• Businesses that export
more than 50% of annual
turnover of goods and
services
Preferential corporate income tax rates

14. 13
Other fiscal incentives
• Accelerated depreciation of 50%
in the first year of asset use for
key priority sectors i.e. tourism,
energy, construction,
manufacturing, agro-processing,
transport etc.
• Exemption of capital gains tax
on sale or transfer of shares.
• Repatriation of capital and
assets.
• Fast tracking of VAT refunds
• Customs duty exemption for
special economic zone users
Other
incentives
(fiscal &
non-fiscal)
Non-fiscal incentives
• Quick business and investment
online registration
• Assistance with tax-related
services and exemptions
• Assistance to access utilities
(water & electricity)
• Assistance with obtaining visas
and work permits
• One stop center that provides
notary services
• Provision of Aftercare services to
fast track project
implementation

15. 14
Housing/real estateManufacturing
TourismBPO and ICTAgriculture and agro-
processing
A wide range of investment opportunities in Rwanda's
economic sectors
Mining and quarrying Energy/water Infrastructure
Knowledge Finance
Focus of the day

16. 15
Brownfield opportunities
Business Process
Outsourcing(BPO)
Knowledge
BPO
Establishing training center in
Hospitality
Establishing training center in
ICT( Coding, software
development)
Offer BPO services from Rwanda for
both English and French clients( front
and backend services)
A center to provide employable skills
ready for growing market in Rwanda
and the region.
A center specifically on training in IT
programming
Sector Project name Short description
Note: more details available upon request

17. 16
Kigali Innovation City is at the core of Rwanda’s drive for
growth in innovation and technology
KIC
vision
1 $251M in GDP contribution in 2016
SOURCE: NISR, Stakeholder interviews
World class universities and think tanks – talent for all of
Africa
▪ 2,000+ students and researchers
▪ Leading international think tanks e.g., Milken Institute,
Peres Center for Peace
Tech hub leading Rwanda’s digital transformation
▪ Local understanding to develop solutions for the African
market
▪ Knowledge transfer blending international companies
and a robust local market
Access to agile capital and expertise
▪ $100M Rwanda Innovation Fund
▪ Technology accelerators to drive the next wave of
growth
Strong GoR commitment
▪ KIC as a flagship government project to drive Vision 2020
▪ Substantial investment in infrastructure
▪ Significant investor incentives
Africa cannot accumulate wealth merely consuming technology produced elsewhere. The
purpose of initiatives like Kigali Innovation City is to unlock value by better adopting
technology to our economies and social context
– H.E Paul Kagame, President of the Republic of Rwanda

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KIC Real Estate

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Get started today
For more information, please contact RDB at
Rwanda Development Board (RDB)
KN 5 Rd, KG 9 Ave
P.O. Box 6239, Kigali, Rwanda
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