Ratio Magazine :: The Inside Track to East Africa’s Economies - Rwanda :A Fresh Look at Investment Potential and Limitations

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Rwanda :A Fresh Look at Investment Potential and Limitations

Tuesday, 15 April 2003

Page 8 of 8

Conclusion - Open for Business
Rwanda is a strikingly beautiful country full of warm and honest, although not necessarily skilled, people led by a forward-thinking government that is making strides towards a market-based economy that is furthering development through economic growth.

For the country’s upward trajectory to be maintained, the investment in people must match that spent on infrastructure, i.e. roads, energy and technology, especially if the goal to turn the country into the service-based economy by 2020 is to be achieved. The zero-tolerance policy regarding corruption is unique in Africa, and appears to be largely followed throughout the system.

The opportunities in Rwanda are plentiful, but limited at this time to certain sectors given the current dynamics. We see short- and medium-term opportunities in the areas of entertainment, real estate and agricultural exports.

One foreign investor put it simply: ‘There are two ways to operate in Rwanda: Either so far below the radar so that no one cares what you are doing or having such high level connections that no one can touch you.

Kigali evokes memories of early-independence Nairobi, safe, clean and beautiful, making it an ideal place to live and conduct business. In some ways, however, it feels like the Wild West - full of opportunity, but not without its pitfalls. In conclusion, we believe that Rwanda’s time has come, and it is finally open for business.

About the Author

An experienced private equity professional, Ritesh founded Ndovu Partners to assist firms in the East African Community unlock value in their assets, in addition to identifying and capitalising on investment opportunities in the region. Having begun his career at Credit Suisse, where he worked in the Investment Banking Division and Private Equity Funds Group, Ritesh later established the London office of Probitas Partners, a boutique investment bank focused on private equity, where he was a Vice President. With five years of private equity experience, Ritesh took over a business providing human resource solutions to the pharmaceutical industry in the UK, which he restructured, re-branded, introduced new systems to and successfully sold to a trade buyer. Ritesh holds a BSc in Management from the London School of Economics & Political Science, where he is an Honorary Lifetime Student.

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