LONDON - President Paul Kagame told a London business summit that Africa is a continent ripe for business, and that with a growing conducive environment, returns on investing in Africa were the highest in the world.
Kagame spoke on the continent’s investment opportunities at the London summit organised by the Economist Magazine which discussed emerging markets in Africa, Asia, Eastern Europe and South America.
He told his audience that huge opportunities exist in resource sectors, industry and services and that Africa was keen on reforms to attract more investments and actively engage in business with the rest of the world.
Speaking to an audience of economists and business personalities, Kagame said that returns to private investments have quantifiable multiplier effects, especially on wealth creation for Africa, than equal amounts of aid.
He said the resulting employment income also gives dignity to individuals and a nation, which were key ingredients for transforming into true functioning economy.
The summit with the theme; ‘Globalisation Redefined’, is a rich and interactive debate that attracts over 300 senior executives and business leaders from around the world.
In an interactive session moderated by Richard Cockett, the African editor for Economist Magazine, Rwanda was commended for her progress in business reforms, making the country one of Africa’s most attractive business destination for investors.
Mr. Cockett described President Kagame as “one of the most outstanding leaders of this generation,” who had presided over what he described as “Rwanda’s remarkable economic success”.
The world’s re-knowned magazine organised this summit to mark the first anniversary of the start of the global financial crisis, but also to highlight growth opportunities that emerging economies of the world, and countries like Rwanda in particular, can provide.
Rwanda’s ranking in the recent WB doing business report was noted as an important achievement that would attract the eye of potential investors.
Kagame also met various business leaders to showcase investment opportunities in Rwanda and Africa in general.
Meanwhile, the President arrived in New York yesterday where he’s scheduled to address the 64th session of the United Nations General Assembly and hold a series of high level bilateral meetings.
At the same UN summit, the President will be one of the seven heads of state to address a special session of the UN member states pressing for an urgent action on the global climate change.
Kagame and his colleagues, whose nations have contributed troops to different UN Peacekeeping missions across the world, will also hold a meeting with US President Barack Obama.
Kagame will deliver his UN General Assembly keynote address on Thursday September 24th.