Rwanda is seeking to use the forthcoming iPAD Rwanda Power and Infrastructure Investment Forum to woo investors for its energy and infrastructure sectors.
Amb. James Kimonyo, the Director for Cabinet in the Office of the Prime Minister, said the summit will provide an investment platform for Africa’s next ‘best’ business opportunity that Rwanda should utilise fully.
“The meeting will provide market entry for international investors, as well as technology and solution providers to deliver a viable investment plan to increase power capacity in the country,” he said in a statement on Monday.
The two-day forum is organised by the Rwanda Development Board and the Rwanda Energy Group and take will place from November 3-4.
Emmanuelle Nicholls, the iPAD Rwanda Power and Infrastructure Investment Forum event director, said the forum will play an important role in the transformation of Rwanda into a dynamic global hub for business, investment and innovation.
“Rwanda is open for business; “investors should come and tap into Rwanda’s enormous investment opportunities in the power and infrastructure sectors, and the government is committed to providing a stable and investor-friendly business climate,” he said in the statement.
The meeting is expected to bring together regional and international investors, project developers, finance houses, construction and planning companies, technology providers, as well as government representatives.
According to a survey conducted by the Ministry of Infrastructure, Rwanda needs to invest about $3 billion to increase access to electricity from 16 per cent to 70 per cent by 2017.
The country’s total installed generation capacity currently stands at 110MW and is protected to reach 563MW by 2017.
Energy sector reforms
Recently, the government split the former national utility, Energy, Water and Sanitation Authority (EWSA) into two separate companies; Rwanda Energy Group Limited (REG Ltd) and Water and Sanitation Corporation Limited (WASAC Ltd) to help improve service delivery and efficiency.
The government is looking to accelerate economic growth and improve social welfare, and energy and infrastructure are some of the key pillars to achieving these objectives.
The government’s Vision 2020 aims at promoting growth driven by private investments.