A new report has highlighted Rwanda's potential to become a global business services destination and create over 5,000 jobs in the next five years. The report was released, on November 30, by Harambee Youth Employment Accelerator- an independent, not-for-profit social enterprise that works with individual businesses, government agencies, local and international donors, industry sector associations, youth-serving organizations, assessment specialists, behavior change experts, and technology providers. The organization aims to solve the youth unemployment challenge through partnerships. The “Rwanda Global Business Services Case Study and Special Country Report” highlights the country's value proposition and key information to investors and employers within the Global Business Services (GBS) sector. The report analyzes the gaps, needs, and what is required for an investor and employer to come to Rwanda. It highlights Rwanda's strengths, including ease of doing business, a strong and growing talent pool of young people, strong and reliable IT infrastructure, and a high level of service delivery. The report also revealed some of the key business drivers that make Rwanda an ideal destination for Global Business Services employers. These include Rwanda’s bilingualism in English and French, the government's prioritization of the Global Business Services sector as an investment opportunity, the collaboration potential of key sector players, attractive investment incentives, and its capacity to flourish as a boutique near-shore services location. Other key determinants of location selection for Global Business Services investors in Rwanda’s favour are infrastructure–including ICT and transport, a cost-competitive and skilled workforce, business-friendly government policies, and most importantly, the experiences of other Global Business Services investors that have joined and are thriving in the Rwandan market. Rwanda's profile as a Global Business Services destination has kept growing. The country is now ranked 10th globally in the technical help desk category of the 2022 Global Business Services (GBS) World Competitiveness Index-Digital and ITO. With an average age of 20, and 70 per cent of the population under 30, Rwanda provides a capable and largely untapped talent pool for Global Business Services investors/employers according to the report. “These employers bring much-needed decent job opportunities that can significantly dent the youth unemployment challenge,” it said. Hannah Adams, Harambee’s Rwanda Country manager said, “Rwanda has emerged as an up-and-coming location for Global Business Services and this report highlights the numerous reasons why. The growth of the GBS sector in Rwanda promises thousands of new jobs for young people over the next five years and we’re committed to working alongside our partners in the sector to ensure its success.” Philip Lucky, RDB’s Acting Chief Investment Officer said that the report offers a welcome insight into Rwanda's Global Business Services sector. “Over the years, the country has invested heavily in creating an enabling business environment. This includes putting in place the required infrastructure and efficient, supported processes. We welcome the world to take advantage of Rwanda's GBS opportunity,” he said. The report also showcases meaningful insights for investors and employers in the GBS market and is a testament to Rwanda's potential to succeed as a digital and knowledge-based economy, it said. The report suggests that the Global Business Services sector could generate over 5, 000 jobs in the next five years, significantly impacting the country’s GDP.
