Rwanda Development Board (RDB) and Chinese automotive and technology group – Chery Holding Group – on Saturday, April 12, inked a Memorandum of Understanding that outlines areas of collaboration in electric mobility, green energy, agriculture, and mining. As announced, the agreement was signed in Kigali by the RDB Chief Executive Officer, Jean-Guy Afrika, and Chery Holding Group Chairperson, Xu Hui. According to RDB, this marked the conclusion of their meeting, which was held at the end of a two-day visit to Rwanda by Hui along with his delegation. ALSO READ: A retrospective look into Rwanda-China relations Chery Holding Group was established in 1997. Its subsidiary, Chery Automobile, is the first Chinese automobile brand to exceed one million domestic sales. It is now a diversified enterprise group centered around the automobile industry, with operating income exceeding 310 billion yuan (approx. $42 billion) as of 2023. The Group ranked 385th in the 2024 Fortune Top 500 List, which ranks the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine.
