EDITORIAL: It is not by chance that things work here, it is by design

Nobody among those who claim to know more about Rwanda’s economy than the country itself seemed to notice, or they did and just shut up intentionally because it debunks their theories.

Here we refer to the likes of The Economist and other sceptics who would rather dump the country among the failed states but results foil their wishes.

It does not need a seasoned economist to concur that when The World Bank starts issuing Rwandan currency bonds on the London Stock Exchange worth $40 million, someone needs to sit up and listen.

Moreover the bond was given a “triple-A” rating and however much Rwandan critics give Rwanda credit for its ability to “cook” its economic books, manipulating the international currency market is out of its league.

Even though detractors seem to insinuate that the World Bank favours Rwanda, that would not be the case with the London Stock Exchange or Citibank, the lead manager of the bond. There’s is strictly business; so they would not just plunge into the deal blindly.

So this, and other achievements are proof that this country is doing something right. One can single out the MICE (Meetings Incentives Conferences and Events) department which seems to be one of the catalysts of the good economic showing.

But the secret weapon is the relentless work put in by Team Rwanda; at the same time the President was attending the UK-Africa Summit and the Rwanda bond was being unveiled at the stock exchange, the MICE team was busy with the Commonwealth Secretariat putting on the final touches of the Heads of State summit scheduled for Kigali in June.

In Rwanda nothing comes by chance or on a silver platter, it is by all design.


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