A group of renowned international investors have ranked Rwanda among the top 10 countries on the African continent to invest in.
South Africa, Nigeria and Kenya emerged the best African countries for potential investment on the continent while Rwanda comes at number 7 behind Ghana, Angola and Tanzania respectively.
A survey conducted by Africa Business Panel among 800 business professionals involved with Africa, showed that Rwanda is one of the few countries in Africa one can invest in and one of the favourite areas when it comes to international investment.
Botswana, Uganda and Mozambique are the other countries which complete the top ten countries for investment out of 53 economies on the African continent in the index which shows that the Eastern African Community (EAC) states are investment friendly.
Ogo Ibok, CEO at Skill Enhancement Centre (SENCE) of Nigeria said that Rwanda continues to show its muscle as the continent’s new investment destination inspired by good leadership and a strong will to rebuild itself after the 1994 tragedy.
“Rwanda is now one of Africa’s major success stories and is growing in leaps and bounds,” said Ibok.
“The government has shown it is serious and determined about rebuilding its economy after the tragic events that took place in the past”.
The Africa Business Confidence Index has published a monthly business confidence index since January 2011, and the top 10 countries selected by the international investor community in 2011 are all sub-Saharan.
Northern Africa has suffered a setback in investor confidence due to the political turmoil, which started at the beginning of 2011.
“Most African economies show promising annual growth. This is attracting the attention of the international investor community who increasingly see Africa as the last frontier for attractive growth opportunities,” says Ibok.
The Africa Business Confidence Index has published a month-on-month business confidence index since January 2011.