The foreign private capital flow awareness campaign that will help private sector investors and government share information on foreign private capital has been launched.
The first of its kind, the exercise was launched yesterday by the National Bank of Rwanda (BNR) in partnership with the Private Sector Federation (PSF), Rwanda Development Board (RDB) and the National Institute for Statistics of Rwanda.
“The government leadership has made it clear that relying on aid cannot help achieve our vision and the only solution is promoting trade investment which the private sector is key,” said Claver Gatete, the Deputy Governor of BNR.
The International Monetary Fund (IMF) has also selected Rwanda among the 120 countries to conduct a survey and share information on foreign private capital given the need to create a conducive environment in Rwanda.
The awareness campaign contains a comprehensive survey on foreign private capital by all the four partners where it will concentrate on 200 companies that were identified using the list of companies registered with BRD, NISR, PSF and BNR.
Gatete emphasised the importance of data collection as being crucial for policy making but also key to addressing investor perception of Rwanda’s business environment.
The survey will capture five parts such as the general information of the company including name and shareholding among others.
Information on foreign equity investment in the company by country of origin will also be considered and this will differentiate the equity of less than 10 percent to that of more than 10 percent as the balance of payment classifies them differently.
The NISR as a partner in the campaign charged with producing official statistics for Rwanda and supporting institutions in statistical activities said accurate data allows company planning, decision making and formulation of policies.
This will help Rwanda achieve its target vision 2020 goal of investment contributing 30 percent to GDP.