{Rwandan High Commissioner Ernest Rwamucyo has encouraged Indians to invest in Rwanda, especially considering the policy of zero-tolerance against corruption as well as the country’s conducive business environment.}
Rwamucyo has been conducting several road shows to attract Indian investors and enlightening them on the opportunities in Rwanda’s fast growing economy, which some Indians living in Rwanda are already enjoying today.
He pointed out that global corruption watchdog Transparency International had in July ranked Rwanda as the “least corrupt country in Africa.” With a bribery rate of 13%, Rwanda is ranked the 13th least corrupt country worldwide.
“Rwanda’s special ties with India predate our joining the Commonwealth. Like elsewhere in East Africa, Rwanda also has many persons of Indian origin, while its current importance can be seen from the fact that India has become the biggest source of FDI (foreign direct investment) in Rwanda,” Rwamucyo noted.
“There’s no single country in Africa with so many students in India as Rwanda has, with over 2,000 of them studying here. Rwandan students find Indian education very relevant, and also affordable,” the high commissioner said.
He further remarked that setting up major India-supported projects in Rwanda like the India-Africa Vocational Training Centre, a food testing laboratory and the India-Africa Entrepreneurship Development Centre were on track, with the latter scheduled to be completed by December.
The country’s only modern textile mill, sugar refinery and cosmetics factory are owned by persons of Indian origin. India has also extended an $80 million line of credit to Rwanda for constructing a 27.5 MW hydroelectric power plant on the Nyabarongo river.
Bilateral trade stood at $49 million in 2011-12, registering nearly a 50% growth over the previous fiscal. The balance is however heavily tilted in India’s favor.
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