British investors, in collaboration with the UK Embassy in Rwanda, have launched the British Chamber of Commerce in Rwanda, a platform designed to boost investment and trade between the two countries.
The Chamber aims to bring together individuals and companies engaged in business and investment in Rwanda, with a target of at least 400 members.
UK Ambassador to Rwanda, Alison Thorpe, explained that when she arrived in Rwanda, she looked for such a forum but found none, despite its existence in many other countries. She then pushed for its creation to strengthen trade and investment relations between Rwanda and the UK. “This Chamber will play a critical role in connecting British investors with opportunities in Rwanda, while also helping Rwandan businesses expand internationally, particularly into the UK market,” Thorpe said.
She highlighted progress already made in sectors such as finance, technology, agriculture, and infrastructure, stressing the importance of expanding cooperation. Thorpe also praised Rwanda’s business-friendly environment and urged both foreign and local entrepreneurs to take advantage of the open access to the UK market.
Jo Nicholas, the Chair of the British Chamber of Commerce in Rwanda, noted that after living in Rwanda for 20 years, he has seen firsthand the country’s security and openness to investors. He expressed confidence that the Chamber would increase the scale and scope of British investment in Rwanda.
Julianna Muganza, Deputy CEO of the Rwanda Development Board (RDB), welcomed the initiative, reaffirming Rwanda’s commitment to supporting investors. She outlined the country’s goal of growing the private sector’s contribution to GDP from 15.9% in 2023 to 21.9% by 2029.
She also stressed Rwanda’s efforts to promote local manufacturing, reduce imports, create jobs, and expand market access through the African Continental Free Trade Area (AfCFTA), which connects over 1.3 billion consumers. “With strategic infrastructure projects such as the new Kigali International Airport in Bugesera, Rwanda is positioning itself as a hub for business and investment in the region,” Muganza said.
She added that there are many areas of potential collaboration between Rwanda and the UK, including health tech, climate resilience, cultural exchange, renewable energy, and financial services.
Commissioner General of the Rwanda Revenue Authority (RRA), Ronald Niwenshuti, reminded investors of the importance of compliance with tax obligations, noting that Rwanda has simplified tax payments through digital platforms. “As you know, without business, there is no tax revenue; and without tax revenue, no business environment can thrive,” he remarked.
According to the 2024 RDB report, Rwanda registered $3.2 billion in new investments, up from $2.4 billion in 2023. The UK ranked fifth among Rwanda’s top investors, contributing $144.6 million across 14 projects.
Author: Justinmind HARERIMANA
