KIGALI - The Commonwealth Business Council has awarded Rwanda with the prestigious 2010 Africa Business Award for most improved investment climate.
The Award was handed to the Minister of Education, Dr. Charles Murigande, during the 2010 Africa Business Forum held in London yesterday.
“This award is given to a country that has made the greatest progress in improving an environment conducive for business, investment and trade,” said Murigande, upon arrival at the airport with the award.
“The award was bestowed to Rwanda in recognition of the significant progress the country has made in business-friendly reforms and creating an attractive environment for investments,” he added.
He also noted that the award symbolizes a choice that the Rwandan people have made to build a prosperous future and a recognition of the hard work invested in achieving Rwanda’s aspirations embedded in the Vision 2020.
“Rwanda was ranked by the World Bank 2010 Doing Business Report, as the best reformer in being a business-friendly country, the 2010 Africa Business Award from the Commonwealth Business Council confirms Rwanda progress in doing business,” said the Minister.
Murigande also highlighted some of the major reforms that have been implemented over the last years that include the enactment of new laws like the company act, moveable and immovable property registration laws, insolvency and new labour law.
Murigande said that the business reforms have ensured a reduction in procedures to start a business from nine in14 days and at the cost of $400 to one procedure on one day and costs only $40.
The introduction of online registration of companies has further eased the registration process.
Reacting on the award, Rwanda Development Board CEO, John Gara, said: “We are humbled by this Award and we will ensure that we continue to carry out more reforms in order to make it much easier for the business community to operate here.”
According to the Commonwealth Business Council, the Africa Business Awards bring together business leaders and companies making significant contributions to Africa’s business climate and economic development.
It brings together high profile business and industry representatives, entrepreneurs, government officials from Africa, Asia, Europe and the USA to honour the outstanding achievements of the business community in Africa.