Nordic businesses see Rwanda as ideal place for expansion

Investors from Nordic countries are showing increased interest in expanding their operations to Rwanda, citing the country’s stability and strategic location as key advantages for doing business across Africa. Delegates from Norway, Finland, Denmark, and Sweden – representing sectors such as education, healthcare, and real estate – gathered in Kigali for the inaugural Rwanda-Nordic Business Forum 2025. A major highlight of the forum is the growing academic collaboration between Rwandan and Nordic universities. Over six Finnish universities and several Swedish institutions are engaging with the University of Rwanda, Catholic University of Rwanda, INES Ruhengeri, and the African Institute of Mathematical Sciences (AIMS) to develop new partnerships. ALSO READ: Rwanda, Sweden sign deal to mobilise climate finance through carbon market Ambassador-designate Diane Gashumba, Rwanda’s envoy to the Nordic countries, revealed that there are new projects in the pipeline, including the establishment of an African office for Mid Sweden University in Rwanda, a move that has already received board approval. “This forum is unique because it does not just build on existing partnerships, it actively opens doors for new investments and collaborations,” she said. She also announced a joint degree programme between Seinäjoki University of Applied Sciences (SeAMK) in Finland and the Catholic University of Rwanda, a step forward in advancing higher education ties between the two regions. Jaakko Halilainen, President of SeAMK, highlighted the rationale behind their growing interest in Rwanda. “We are here to discuss cooperation with several universities from Rwanda. Our focus is on joint degree programmes and expanding educational collaboration, building on an initial partnership that began in 2023. Rwanda’s stability, strong agricultural sector, and commitment to innovation and education make it a compelling partner,” he noted. Healthcare Beyond education, the healthcare sector is set to benefit from Nordic investment. A Swedish clinic has officially registered a company in Rwanda and is currently securing a location for a specialised diagnostics laboratory. “This laboratory will provide advanced diagnostic services that we normally seek abroad. Discussions are underway with Rwanda’s health insurance providers and the Ministry of Health to ensure a seamless establishment,” Gashumba said, adding that the country has introduced the 4x4 Strategy, an initiative aimed at increasing both the quantity and quality of healthcare professionals in Rwanda. “Finland is globally recognised for its excellence in education. With over 70% of participants at this forum coming from Finland, we are presenting key opportunities and areas that need investment to them,” she said. ALSO READ: Rwandans in Northern Europe challenge false narratives of DR Congo crisis Divine Nakanyange, Investment, Marketing, and Facilitation Representative at the Rwanda Development Board (RDB), emphasised Rwanda’s position as a leading investment destination. She highlighted the country’s business-friendly environment, streamlined processes, and promising opportunities across multiple sectors. “We are fully prepared to support your investment journey from start to finish. We welcome not only well-developed projects but also innovative ideas,” she told investors. Nakanyange noted that Rwanda’s business registration process is fast, entirely online, and free of charge, making market entry seamless for investors. “At RDB, we offer a one-stop shop for all investor needs, from company registration to obtaining the necessary licenses and permits,” she added. Rwanda currently allows 100 per cent foreign ownership, places no restrictions on profit repatriation, and exempts share transfers from taxes, making it one of Africa’s most investor-friendly countries. “While we encourage partnerships for knowledge exchange, foreign investors can fully own their businesses. Once obligations such as taxes are met, capital transfers face no restrictions,” Nakanyange explained. RDB showcased projects such as the Kigali Innovation City, a $100 million project aimed at providing residential facilities for the growing tech community, as well as the Green City Kigali, a $150 million initiative focused on building sustainable, eco-friendly housing. It also showcased the Kigali Green Complex, a 29-story skyscraper requiring an estimated $200 million in investment. Theresa Zitting, the Ambassador of Finland in Dar es Salaam, Tanzania, noted the timely opportunity to reinvigorate the business relationship between Rwanda and Finland as both nations seek to strengthen economic collaboration across various sectors. “This is a very opportune time for both parties to re-engage. There are numerous opportunities not only for businesses but also for universities and other institutions,” she said. Zitting praised Rwanda’s strong standing in the global business community. “Rwanda has a very solid reputation. I believe it still ranks as the second-best African country for ease of doing business. My visits have always left a very positive impression,” she said.

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Nordic businesses see Rwanda as ideal place for expansion