Rwanda attracted investments worth 1.675B in 2017, according to latest figures from Rwanda Development Board (RDB).
This represents a significant increase of over $500 million from investments registered the previous year.
Data from RDB indicates that the top sectors that generated top investments include; construction and real estate, mining and infrastructure.
The performance surpasses RDB’s projection last year where they had announced that they were expecting investments worth about $1.5B.
Construction and real estate led the pack generating about $638M with mining raking in investments worth $267.4M and infrastructure with over $200M.
Bugesera Airport Company was the largest investment at $369m, followed by off grid energy solution provider Ignite Power Rwanda at $113.8M and Gasabo Investment Company at $89M.
Bugesera Airport Company is developing the Bugesera International Airport whose construction kicked off late last year.
Other significant individual investments were African Panther Resources at $54M and Kigali View Hotel and Apartments ($53.2M).
The statistics show that foreign direct investments continue to dominate standing at 1.04B (about 62 per cent.)
In 2016, foreign investment was valued at 650.4M while local investment was valued at close to $480M.
Joint investments between local and foreign investors were valued at $160.5M (about9.6 per cent of all investment.)
RDB Chief Executive Clare Akamanzi said that the growth in investment is proof of an improving business environment.
“Rwanda’s ambition is to create 150,000 off-farm jobs annually. I am confident that these investments will have immediate impact on the employment prospects of young Rwandans. Last year 38261 jobs were registered by RDB in infrastructure, services, manufacturing, tourism, construction, real estate, agriculture and mining sectors,” she said.
In 2016, the eight sectors generated about 13, 477 jobs.
To scale up investments, the government is in the process of rolling out 15 new doing business reforms across various aspects by May this year.