Business in Rwanda just gets better and better. Our country is known as the hub of investor opportunities, the upcoming tourist attraction of East and Central Africa, the land of peace and security- quoted by the renown African American Musician and Producer – Quincy Jones, as, “ The safest place in the World.”
Most recently, a documentary called the Renaissance Rwanda, brought to light, the vision of the country, its people and businessmen, President Paul Kagame - once addressed the international business community, “We are open to investment opportunities, come and share the pride of being a part of Rwanda’s growth and development.”
We are moving on and moving fast into the world of National Competitiveness. But what is National competitiveness?
According to the Professor of Strategy and Director of the Gordon Institute of Business Science in South Africa, Nick Bennidel, competitiveness in an economy is defined as the quality of business, the regulative and legislative environment in the said economy in comparison to other economies.
It is also known as the shape in which the global economy is built around the country of our size, and how we as an economy respond to it. National competitiveness is an aspect of the state and how it may create or destroy value for the country, compared to other countries in the region.
Mr. Bennidel, goes further to say that smart states create value, and not so smart states destroy value. In this case, wouldn’t we call Rwanda a smart state?
We have built our new economy along the lines of flexibility to take on new ideas, new products, cross-border trade, and strong bilateral relations with both domestic and international investors and investor countries.
Today, we attract huge companies around the globe who have the intention of doing business in Rwanda- from the IT crème de la crème –MICROSOFT and GOOGLE – to the big fish in the global business sector; DUBAI WORLD.
The banking sector is booming with good business solutions for not only the local market, but also potential investors in the country. We have the big boys of the banking world like ECOBANK and Kenya Commercial Bank-KCB coming into Rwanda to make claim on the market share.
The country known as the world’s fastest growing economy, China has come down to Rwanda to look at potential areas of business.
What has Rwanda done? The state and the private sector have come together with one goal; to build a nation!
The door has been opened to the whole world of successful businessmen, to support, develop and reap the fruits of good investments in this small African country with big ideas.
As the rest of the world sits back and watches the genius’ of the business world play chess with Rwanda’s numerous business opportunities, fellow Rwandans, are moving up to keep the pace. Education is key, qualifications are crucial.
Innovation and creativity are a demand in any business that is slowly pushing the once conservative Rwandan, to open their minds to the new world of competitive advantage- a world that encourages a newer, more challenging pace of growth for the average Rwandan.
Today, we have the Women in Business whose products are widely sold not only locally, but also internationally, with one of our female businesswomen, the owner of GAHAYA LINKS, nominated as one of the winners in the LEGATUM Pioneers of Prosperity award.
We have the world of art and culture growing into a commercial venture that contributes greatly to the social development of the country.
Rwanda coffee has introduced a specialty brand that has created a booming business- the most recognized being the coffee house franchises all over the country and the international demand for this product.
And now, we have the tea and coffee companies taking small steps into the big rings of success. Let us also take a long, hard look at the national brand that is built by the government and the supporting industries in the tourism sector.
We are now earning our largest revenues from tourism. It is a Rwandan’s greatest pride to be part of their country’s development.
As the country grows so does its values, amongst which are innovation, excellence in service delivery and initiatives to promote good business solutions that work well with economic strategy for the country. You and I are part of Rwanda’s growing national competitiveness in the region.