With the confirmation that preparations for Commonwealth Heads of Government Meeting (CHOGM) continue as planned despite the ongoing Corona outbreak in optimism that it will have been contained by June this year, what are some of the top business opportunities the meeting will bring?
The New Times mapped out a number of sectors that could have the highest revenue streams during the summit as the country hosts about 7000 guests including about 40 heads of states.
The meeting will have a number of side events including; Commonwealth Youth Forum, Commonwealth People’s Forum, Commonwealth Women’s Forum and Commonwealth Business Forum.
The New Times understands that among the venues that will be used to host the meeting and side sessions include; Kigali Convention Centre, Intare Conference Arena, Kigali Serena Hotel, Kigali Marriott, Camp Kigali, Grand Ubumwe Hotel among others.
Among the top opportunities include:
Transport and logistics
The 7000 guests will need to move across the city and across the country through various means of transport. This will, in turn, puts all transport stakeholders in business as they provide logistic services. Transport and logistics operators of the various means can expect to see a rise in demand for their services including the logistics of materials and goods to be used at the summit and side sessions.
7000 delegates flying in means increased demand in aviation services both for the national carrier, the Rwanda Airport Company as well as suppliers of services and goods at the airport. Akagera Aviation is likely to see a spike in demand for its helicopter services as high profile guests seek to sightsee across the country in limited time.
Louise Kanyonga, the Chief Strategy and Compliance officer at the Rwanda Development Board said that during the summit, there will be retail opportunities across the market traders across categories. From retailers of Made in Rwanda products, retailers of inputs used in the hospitality sector and other value chains. This she said will also be an opportunity to introduce the global market to Rwandan made products hence the need to ensure quality.
The meeting, side meetings will also see a sharp rise in services on the local market. The visiting delegates will require services such as guides, chauffeurs, translators, clearing and forwarding, laundry, wellness services among others. Financial services and broadband services will also be in high demand.
However, considering the profile of guests, it will require the service providers to work by the highest global standards and meet quality requirements.
It will be a high season for hotels and hospitality sector players. Accommodating and feeding 7000 guests including Heads of States and Government will see most of the facilities operating at maximum capacity with most requiring to increase staff and supplies.
Annie Batamuliza, a hospitality expert said that ahead of the summit, hospitality establishments should be readying up through training to staff, adopting innovative aspects to fast track operations.
The innovativeness experts say could be characterized through aspects such as cuisines, themed nights and parties, relaxation sessions among others.
Tech and innovation
Like most sectors in the country, the technology and innovation will play a huge role during the summit consequently having a positive revenue impact on stakeholders. Among aspects that technology and innovation could play a central role will be in payment services, information provision, coordination, logistics among others.Follow https://twitter.com/ByCollinsMwai