Rwanda lures Zimbabwe investors

Bilateral trade and investment between Rwanda and Zimbabwe have seen significant growth of more than 58% in the past three years, following the annual Rwanda-Zimbabwe Business Forum initiated in 2021. The CEO of the Rwanda Development Board, Francis Gatare, expressed optimism about further leveraging the gains and milestones achieved through the forum. The third edition of the Rwanda-Zimbabwe Business Forum was recently held in Kigali at the Convention Center, marking a continuation of the annual event that alternates between the two countries. The forum serves as a platform for businesses from both nations to explore opportunities for collaboration and investment. Notably, there has been a notable increase in bilateral trade, with companies from Zimbabwe establishing operations in Rwanda and vice versa. The movement of professionals between the two countries has also been on the rise, with many Zimbabweans pursuing education and career opportunities in Rwanda, particularly in sectors like ICT and finance. Rwanda has emerged as an attractive destination for businesses and tourists alike, with a focus on sectors such as finance, tourism, agriculture, energy, ICT, and mining. The Rwanda-Zimbabwe Business Forum showcases the potential for cooperation in various industries, including mining, where Rwanda seeks to benefit from Zimbabwe's expertise and experience in training mining professionals. The strategic focus on the ICT sector in Rwanda has attracted interest from South African companies and banking giants looking to tap into the market. Rwanda views ICT as a transformative technology that can enhance efficiency and value across different sectors, leading to advancements in areas like FinTech, agriculture, and online trading. Seamless connectivity between Rwanda and Zimbabwe is crucial for fostering trade and investment ties, with Rwanda offering daily flights to Harare to facilitate easier movement between the two countries. The removal of visa requirements for travel to Rwanda has further promoted accessibility, leading to a growth in the number of Zimbabweans visiting Rwanda. The robust transportation links are seen as a vital enabler for enhancing bilateral trade and investment opportunities between the two nations. Overall, the Rwanda-Zimbabwe Business Forum continues to serve as a catalyst for strengthening economic relations and fostering partnerships between Rwanda and Zimbabwe, with a focus on mutual growth and collaboration.