The annual FT ranking, compiled in partnership with research firm Statista, tracks companies across the continent based on their compound annual growth rate (CAGR) in revenues between 2020 and 2023.
This year’s list features 130 companies, with South Africa and Nigeria dominating the rankings, together accounting for more than half of all entries. Kenya ranks third, with 11 companies making the list.
Inkomoko’s inclusion is seen as a major milestone for Rwanda’s private sector. Founded 12 years ago, Inkomoko has grown into a regional enterprise, operating in Rwanda, Kenya, Ethiopia, South Sudan, and most recently, Chad.
The company has invested over $35 million, supported more than 100,000 entrepreneurs, and reached over 1.2 million people, many of whom live in refugee camps or underserved communities.
“This isn’t just our growth story — it’s our clients’ and the communities we serve,” said Emmanuel Mugabo, Inkomoko’s Rwanda Managing Director.
“Every business we support is a reminder that talent is everywhere, but what is often missing is access. That’s something we can fix together with partners, investors, and policymakers,” he added.
Inkomoko’s model is built on the belief that displacement-affected communities are not just in need of aid, but ripe with economic potential. By providing entrepreneurs with training, finance, and market access, the organisation demonstrates that empowering the underserved is not charity, but a proven method for driving local economic growth and long-term stability.
As the world faces mounting challenges from conflict, climate change, and inequality, Inkomoko is positioning itself for greater impact. The organisation has announced an ambitious goal to invest $150 million in 550,000 small and micro businesses by 2030, and is actively seeking like-minded partners to scale its mission.
“This recognition from the Financial Times is an honour,” Mugabo added. “But the real measure of our success will be how many others join us in this work.”
Central to this historic rite are two ancient and powerful symbols: the pallium and the Ring of the Fisherman. These items not only signify the authority of the papacy but also mark the official beginning of Pope Leo XIV’s apostolic mission as the successor of Saint Peter.
The pallium, made from the wool of lambs, evokes the image of the Good Shepherd carrying His flock. It recalls Saint Peter’s call to “feed my lambs and tend my sheep,” symbolising the pope’s pastoral responsibility to care for the faithful worldwide.
The pallium, worn over the shoulders during liturgical celebrations, is adorned with six black crosses and three pins, which represent the nails of Christ’s crucifixion, further connecting the pope’s mission to Christ’s sacrifice.
The Ring of the Fisherman represents the seal of faith entrusted to Saint Peter, the fisherman called by Jesus to become the “rock” upon which the Church was built. This ring serves as a signet, symbolising the pope’s spiritual authority and his role in strengthening the brethren.
The inauguration ceremony begins inside St. Peter’s Basilica, where Pope Leo XIV will pray at the tomb of Saint Peter, honouring the Apostle’s martyrdom and legacy. Following this, the pallium, the Ring of the Fisherman, and the Book of the Gospels will be carried in procession to the altar outside in St. Peter’s Square.
As Pope Leo XIV approaches the altar, cardinals representing the three orders of the Church will place the pallium upon him and present the Ring of the Fisherman. Special prayers will invoke Christ’s guidance and strength for the new pope as he takes up his ministry.
The ceremony also includes a rite of obedience, in which representatives from the global Catholic community pledge their allegiance to Pope Leo XIV. The liturgy features scripture readings in multiple languages, reflecting the Church’s universality and the pope’s mission to shepherd all peoples.
As the Mass concludes, Pope Leo XIV will bless the assembly and offer a prayer that God may protect and guide him in leading the Church with unity, charity, and faithfulness to the Gospel.
Pope Leo XIV, born Robert Francis Prevost on September 14, 1955, in Chicago, was elected on May 8, 2025, to succeed Pope Francis, who passed away on April 21, 2025.
The meeting took place on the sidelines of the 5th season of the BAL (BAL5) and brought together Clare Akamanzi, CEO of NBA Africa; Amadou Gallo Fall, BAL President; and Leah McNab, Head of International Operations for the NBA.
Also in attendance were Rwanda’s Sports Minister Nelly Mukazayire and Rwanda Development Board (RDB) CEO Jean-Guy Afrika.
According to a statement from the presidency, their discussions centred on Rwanda’s role in hosting the league’s inaugural season and the rapid growth the BAL has experienced over the past four years.
The leaders also explored the deepening partnership between Rwanda and the NBA, particularly in efforts to nurture basketball talent across the continent, as well as the broader economic opportunities that sports can unlock for Africa.
Rwanda has become a key partner in the NBA’s African expansion, with Kigali’s BK Arena serving as a regular host for BAL playoffs and finals under a multi-year agreement with the RDB. NBA Africa’s engagement has also included grassroots court projects, youth clinics, and high-profile branding through the “Visit Rwanda” initiative.
Earlier in the evening, President Kagame and First Lady Jeannette Kagame joined a sold-out crowd at BK Arena for the opening of the 2025 BAL Nile Conference. The energy in the arena peaked as Rwanda’s APR Basketball Club secured a resounding 92–63 victory over Kenya’s Nairobi City Thunder, their first win in the weeklong tournament.
Speaking with clarity and introspection, Kagame emphasised the importance of understanding Rwanda on its own terms—shaped by its history, defined by its resilience, and guided by a deeply internalised sense of responsibility.
“Like any other country or society, Rwandans have their ways, they have their problems, they have their restraints,” Kagame said.
“So we approach the management of our affairs and society and deal with our problems based on that understanding of who we are, who we want to be, where we are coming from, where we want to go.”
Kagame urged the students to look beyond surface narratives and adopt a more nuanced lens when evaluating nations like Rwanda.
He stressed the value of introspection and open communication within Rwandan society as key tools for progress.
“It’s important to read and understand carefully what all that entails. And more importantly, to try and communicate it among ourselves and do the kind of soul-searching we need to find solutions to the many problems we have or have had,” he asserted.
In a statement that anchored the tone of the discussion, Kagame declared, “We don’t pretend about anything.” Acknowledging the significant strides Rwanda has made since the 1994 Genocide Against the Tutsi, he also admitted that challenges remain.
“We know that a lot of progress has been made, but we have not succeeded in everything. We are not even bound to succeed in everything. But we try to register progress in the things that matter most to us.”
The Head of State, who led the Rwandan Patriotic Army (RPA)—comprising Rwandan refugees from neighbouring countries—to stop the Genocide against the Tutsi, described Rwanda’s journey as one forged not in privilege, but in perseverance.
“We are not spoiled. We don’t have much to spoil us. We have just had the lessons of our past that are tragic. Therefore, you either pick up your pieces and move forward or you perish,” Kagame told the students. “We operate within these kinds of limitations.”
The meeting served as both a lesson in leadership and a window into Rwanda’s ongoing efforts to build a self-reliant, inclusive society that acknowledges its scars but remains focused on a future defined by integrity, purpose, and homegrown solutions.
President Kagame is credited with steering the country toward prosperity following the 1994 Genocide Against the Tutsi, which left more than a million people dead.
Today, Rwanda is regarded as a model of good governance, with notable progress in areas such as infrastructure development and the improvement of public services, including healthcare and education.
A recent survey conducted by the National Institute of Statistics of Rwanda (NISR) revealed that national poverty has declined by 12.4 percentage points over the past seven years.
According to the survey, the national poverty rate dropped from 39.8% in 2017 to 27.4% in 2024, with approximately 1.5 million Rwandans lifted out of poverty during that period.
Moreover, the country has made concerted efforts to combat corruption and enhance the efficiency of its public sector, placing a strong emphasis on accountability and performance.
In 2024, the tourism sector generated $647 million (over Frw 932 billion) for Rwanda, marking a 4.3% increase compared to the previous year.
RDB’s 2024 annual report attributes this growth to a 27% increase in gorilla-based tourism and an 11% rise in air travel.
Each year, 10% of the revenue generated by national parks is shared with neighbouring communities and used for public interest initiatives and socio-economic development projects.
The report indicates that 105 community projects received financial support. A significant portion, about 43.1%, focused on agriculture-related activities, while 41% were dedicated to infrastructure development.
Another 10.5% of the funds were used to provide various equipment, 2.9% supported the repair of property damaged by wildlife, and the remaining 1.9% went toward strengthening local businesses near the park.
While briefing members of the Parliamentary Committee on National Budget and State Assets, RDB officials highlighted the Volcanoes Community Resilience Project, aimed at supporting communities surrounding the park.
This project has a three-year budget of Frw 30,778,107,419 and is set for implementation through 2028.
In the draft budget for fiscal year 2025/2026, the project has been allocated Frw 1,764,645,080.
In 2024, the number of visitors to Rwanda’s national parks increased to 138,000, generating $38.8 million, up from $35.8 million in 2023.
Since 2005, over Frw 10 billion has been invested in projects that improve the livelihoods of communities around Rwanda’s national parks, including Volcanoes, Nyungwe, and Akagera.
Through collaboration between RDB, local governments, and park communities, more than 880 projects have been developed to enhance community wellbeing. These include schools, health centres, housing for families, water supply systems, and agriculture-related development initiatives.
The event marked the launch of Cohort 2 of the Pathway Foundations program, an initiative designed to nurture ethical and entrepreneurial leaders dedicated to building Africa’s future.
Drawn from various parts of Rwanda, the new cohort includes a diverse group of young learners, each stepping into a rigorous program that opens doors to global academic and leadership opportunities. Nineteen parents were also in attendance.
“This ceremony is more than just a welcome—it’s the first step in these students’ journey to becoming the leaders Africa needs,” said a representative from ALX Rwanda.
“We’re excited to guide these 200 talented individuals through the Pathway Foundations program and beyond.”
The Pathway program equips students with essential skills for academic excellence, leadership, and career success.
Participants stand a chance to earn scholarships to some of the world’s top universities, including the University of California, Berkeley, Tufts University, Northwestern University, Macalester College, African Leadership University, Sciences Po Bordeaux, Nexford University, Skidmore College, ACity, African Leadership College for Higher Education, Morehouse College, Bates College and the University of Chicago.
Others are Hamilton College, Vanderbilt University, Code University, The School of Entrepreneurship & Technology at Patten University and Richfield Graduate Institute of Technology, among others.
During the event, students were introduced to ALX’s mission of building Africa’s future through ethical leadership. Sessions throughout the day offered an overview of the curriculum, scholarship pathways, and mentorship opportunities.
Alumni from previous cohorts also shared insights from their journeys, encouraging the new students to embrace community and collaboration, with the powerful message that “you go further when you go together.”
Recognising that student success relies on strong support systems, the event included dedicated time for parent engagement. ALX team members emphasised the crucial role parents play in supporting learners throughout their educational journey and ensuring consistent commitment and engagement.
In an engaging team-building exercise dubbed the “Lily Pad Challenge,” students demonstrated leadership, problem-solving, and teamwork skills that are core to the ALX experience.
The event also included an emotional moment where students created personal time capsules, envisioning their future achievements at graduation.
The ceremony concluded with the entire cohort reciting the Pathway Pledge—committing to a life of value, community investment, and representing Africa with dignity and pride.
As their voices rang out in unison, “Together, we are ALX,” the newest members of ALX Rwanda stepped into a journey that promises to redefine their futures and impact the continent.
But what sets China apart is not just the scale, but the strategic positioning of vocational education as an equal and essential pillar to academic education. It is this ecosystem that fuels China’s ability to sustain all industrial categories, an achievement unmatched globally.
At the heart of this transformation is Beijing Polytechnic College, a national model institution that proves what vocational education can and should be. Founded in 1956 and transformed into a higher vocational institution in 1999, BPC is one of the first independently upgraded colleges in the country and is now a leader in China’s Double High Plan, a program aimed at cultivating high-level vocational schools and speciality programs with Chinese characteristics.
With nine teaching departments, a School of International Education, and 34 majors spread across five professional clusters, BPC is home to 6,550 students and 518 faculty members.
A recent visit to BPC reveals not only its modern infrastructure but also the intensity of hands-on learning. In the School of Mechanical and Electrical Engineering, students were working directly with BYD electric vehicles, diagnosing faults, repairing them, and understanding their systems in a real-world setting.
These aren’t lab simulations—they’re industry-level workshops with real equipment. In the Architecture and Surveying Department, students use drone mapping and laser scanning tools for field data collection. In the Urban Safety Engineering School, disaster response drills are conducted with professional-grade monitoring instruments.
BPC’s success is powered by deep integration with industry. With over 200 enterprise partnerships, including BYD, Siemens, Huawei, and Beijing Construction Engineering Group, the college co-develops curricula, receives donated equipment, and places students into internships that often lead directly to employment.
In fact, a large number of its teaching equipment is donated or co-sponsored by industry, ensuring that students are not only taught what is relevant but trained on the very tools used in the workforce.
BPC independently developed national vocational training standards in automation, information technology, and jewellery design and processing.
BPC’s students spend more than 20 hours per week in hands-on training environments, and graduate employment rates exceed 90 percent, with many hired before they even finish their studies.
As Vice President Gao Shiji remarked during a speech to African and Eastern European media delegates at BPC, “We believe educational cooperation is not just a bridge between civilisations. It is the engine of shared development. We have built a rotating door of mutual growth, where African sunrise meets Beijing’s twilight, and knowledge flows both ways.”
The contrast with much of Africa’s vocational education landscape is sobering. According to UNESCO’s Global Education Monitoring Report (2022), less than 20 percent of vocational schools in Sub-Saharan Africa are equipped with modern training facilities.
The World Bank has reported that only 30 percent of African technical institutions include mandatory hands-on training in their curricula. Meanwhile, over 60 percent of employers across the continent say they struggle to find technically proficient graduates for entry-level roles.
Too often, vocational education in Africa is treated as a fallback—a plan B for students who didn’t make it to university. It’s underfunded, disconnected from the private sector, and heavily theoretical. The result is a growing number of diploma holders who lack market-ready skills.
Despite these challenges, there are signs of progress. A handful of African nations are beginning to shift course, with Rwanda leading the way. The country is pioneering reforms through strategic collaborations, including with China.
In Rwanda, the China-Africa Vocational Education Alliance has connected local polytechnics to Chinese institutions like Tianjin Light Industry Vocational College, where students train in robotics, sustainable agriculture, and others.
Now, just two years into the partnership, a growing number of graduates from Rwanda’s St. Joseph Integrated Technical College are securing jobs at local tech startups.
These cases prove that when African governments prioritise vocational training and leverage international partnerships, tangible improvements emerge.
What makes BPC a blueprint for African nations isn’t just its technology or partnerships—it’s the mindset behind them. It recognises that vocational skills are not inferior, but they are essential.
It also proves that when governments invest, when industry partners, and when institutions prioritise relevance over ritual, vocational schools can become engines of innovation, economic resilience, and national pride.
Bongo, 66, and his family arrived in the Angolan capital late Thursday, nearly two years after the end of the Bongo dynasty’s 55-year rule over the oil-rich Central African nation.
The former first family’s release follows discreet diplomatic negotiations between Angolan President João Lourenço and Gabon’s new leader, Brice Oligui Nguema, according to a statement from Angola’s presidency.
Photographs shared on the Angolan presidency’s official Facebook page show Bongo and his family being welcomed at the airport in Luanda.
“The Bongo family has been released and has just arrived in Luanda,” the statement read.
Ali Bongo was placed under house arrest in Libreville immediately following the August 2023 coup, which brought General Nguema, a former head of the presidential guard, to power.
Nguema was sworn in as president for a seven-year term earlier this month after securing nearly 95% of the vote in elections widely seen as consolidating military control.
Bongo’s wife, Sylvia, and their son, Noureddin, had been detained separately and accused of embezzlement and money laundering. Reports indicate that the two were recently moved from basement cells in the presidential palace to house arrest on May 9. Their supporters allege they were subjected to torture while in custody—claims that Nguema’s administration denies.
The African Union had been pressing for the release of the Bongo family. At a meeting on April 30, the AU’s Peace and Security Council formally readmitted Gabon after suspending the country following the coup. The council urged Gabonese authorities to guarantee the rights and health of the Bongo family.
Ali Bongo came to power in 2009 after the death of his father, Omar Bongo, who ruled Gabon for over four decades. His presidency was marred by allegations of electoral fraud and corruption, culminating in widespread discontent that paved the way for the 2023 coup.
Gabonese authorities have not officially commented on the former first family’s departure.
U.S. Senior Advisor for Africa, Massad Boulos, announced the development in a statement issued on Thursday night, following what he described as “constructive conversations” with President Paul Kagame and his DRC counterpart Félix Tshisekedi.
The conversation followed the submission of the respective draft agreement versions by DRC and Rwanda earlier this month.
“We have provided the first draft of a peace agreement to both sides and will work with the parties to iterate on the agreement to reach consensus,” Boulos said.
“Resolving long-standing differences is hard work, and we are committed to seeing this through. We look forward to further engagement to come to a resolution,” he added.
The draft agreement comes ahead of a landmark ceremony scheduled for June at the White House, where Presidents Kagame and Tshisekedi are expected to formally sign the peace accord in the presence of U.S. President Donald Trump.
On the same occasion, additional agreements on economic cooperation between the United States and the two African nations are expected to be concluded.
If all proceeds as planned, the deal could pave the way for significant American investments in both Rwanda and the DRC, marking a major step forward in regional development and bilateral relations.
The U.S. has emphasised that before the agreement can be finalised, both parties must meet a series of preconditions.
For the DRC, this includes addressing internal security issues such as the disbanding of the FDLR militia—a group formed by the perpetrators of the 1994 Genocide against the Tutsi in Rwanda—and implementing governance reforms to ensure a more equitable distribution of national resources.
The peace process has gained momentum in recent months, with notable diplomatic progress made during a series of negotiations held in Doha, Qatar.
Delegations from Rwanda, the DRC, the United States, and Qatar participated in the talks. Rwanda was represented by Brig Gen Jean Paul Nyirubutama, Deputy Director General of the National Intelligence and Security Services (NISS), and Brig Gen Patrick Karuretwa, Head of International Military Cooperation.
Talks initially mediated under the East African Community (EAC) and Southern African Development Community (SADC) frameworks are now being facilitated by the African Union, with Togo taking a lead role in guiding the final stages of the process.
The project, located in Musanze District in the Northern Province, is part of a broader national effort to tap into the lucrative global medical cannabis market and drive economic diversification.
An official from the Rwanda Development Board (RDB) confirmed during a parliamentary budget hearing on Tuesday that the project is 83 percent complete.
Joseph Cedrick Nsengiyumva, RDB’s Chief Financial Officer, informed lawmakers that remaining tasks include the installation of a double-layered security fence—an international requirement for medical cannabis infrastructure.
“The works related to drainage layout were completed but are yet to be invoiced,” said Nsengiyumva.
For the 2024/2025 fiscal year, Rwf2.2 billion has been earmarked for the project, with over Rwf1 billion already spent, representing a 46 percent financial execution rate.
The medical cannabis initiative marks Rwanda’s foray into the pharmaceutical and health research industries, with the long-term goal of becoming a key exporter of cannabis-derived therapeutic products.
Based on ministerial orders issued in June 2021 concerning cannabis and its derivatives, King Kong Organics (KKOG) was granted a five-year license to cultivate the plant.
The firm, a subsidiary of KKOG Global, has already invested $10 million into facility construction, advanced machinery, land acquisition, and the importation of genetically modified cannabis seeds.
Initially, construction of the production site was expected to be completed by May 2024, but delays linked to infrastructure access pushed the timeline to September of the same year.
KKOG CEO Rene Joseph said the plant will be used to extract cannabis oils for export to international markets.
Rwanda has allocated 134 hectares for medical cannabis cultivation, targeting a yield of 5,000 kilograms per hectare for export.
