He made the remarks during a high-level panel at the 28th Commonwealth Heads of Government Meeting (CHOGM) in St. John’s, Antigua and Barbuda, where he participated alongside Jamaican Prime Minister Andrew Holness and Samoa’s Deputy Prime Minister Mulipola Anarosa Ale Molioʻo.
Kagame said developing countries continue to face the perception that investments in the Global South carry greater risks than those in developed economies, despite risks being present across all markets.
“There is a perception out there that developing countries, for example, that part of the world to which a number of our countries belong, carry higher risks for investments in the South than in the North. This has continued to play out for a long time, but it is not true,” he said.
“There are risks everywhere, whatever investments you want to make. So, if we could encourage more cooperation and understanding that risks are to be found everywhere, but there are ways to mitigate those risks by putting resources together, coming together and working together, […] then there should be no obstacle to these investments.”
He also said governments and the private sector should work together to address barriers that prevent investors from financing projects, particularly by ensuring access to the resources and inputs needed to make them viable.
“First of all, it is to educate people that if any project, irrespective of its size, is feasible and looks profitable, the other problems to deal with are much simpler.
“That gap needs to be filled by the government and the private sector working together and ensuring that there are mechanisms for people accessing such inputs that are required,” he noted.
He also pointed to regional market integration as a way of expanding investment opportunities, urging investors to look beyond the size of individual countries and consider the wider markets in which projects operate.
“It is not just a small project in a small country, but rather a viable project in a growing market beyond the place where it is,” Kagame said.
The Head of State further stressed the importance of sound policies, strong institutions and good governance in creating an environment that supports investment, adding that the Commonwealth could help foster greater cooperation among member countries.
The meeting, running from November 1 to 4, brings together 30 heads of state and government, alongside ministers and representatives from business, civil society and youth organisations.
Held under the theme “Accelerating Partnerships and Investment for a Prosperous Commonwealth”, the summit is discussing ways to expand trade among member countries and attract high-impact investment.
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