Rwanda registered $3.2 billion (approx. Rwf4.48 trillion) in investment commitments, marking an increase of 32.4 per cent from investment recorded in 2023, according to the Rwanda Development Board (RDB).
These investments created more 51,600 jobs, with manufacturing accounting for 43 per cent of the total, according to the 2024 RDB annual report published on April 5.
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With $907 million invested in 100 projects, the Asia region topped the list of the origin of investment. This represents a 37.4 per cent share of the total outlay registered in Rwanda.
Africa comes second with $579.3 million invested 188 projects or 23.9 per cent of the total investments, while the Americas came third with $485.6 million invented in 39 projects.
Investment from Europe was just over $404 million that went to 52 projects. The Middle East contributed some $41.5 million for 11 projects, while Oceania accounted for $8.3 million invested in three projects.
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The RDB report showed that investment originating from Rwanda accounted for 23.9 per cent or $782.8 million to finance 191 projects.
Key investment projects include those by companies, such as Rio Tinto Exploration Rwanda, Bio Usawa Biotechnology, National Cement Holding and Parklane Group. There is also Basigo Rwanda, TTEC CX Solutions Rwanda, Ramba Investment Africa Holdings and Bestred Technology Development Rwanda.
Manufacturing and financial sectors lead
Manufacturing, which includes agroprocessing, led other sectors in both registered investments and job creation, reinforcing Rwanda’s continued industrial growth. Manufacturing accounted for more than $1.35 billion or 43.6 per cent of the total investment, according to the report.
The financial and insurance sector recorded just over $811 million in registered investments, making it the second-largest sector by investment value.
The authors of the report said this reflects strong investor confidence in Rwanda’s growing financial services ecosystem and signals new opportunities for innovation, financial inclusion, and cross-sector support.
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They observed that the Kigali International Financial Centre (KIFC) "attracted high-quality investments, fostered innovation in financial products and services, and strengthened Rwanda’s global financial linkages."
Real estate projects saw $377.7 million in investment. Together, manufacturing, financial and insurance sector and real estate sector accounted for 77.9 per cent of all registered investments in 2024.