At the recent “Invest in Rwanda” session, Michelle Umurungi, Chief Investment Officer at the Rwanda Development Board (RDB), delivered a bold message that resonated across the room: “Africa’s future must be owned, built, and financed by Africans.” Her remarks reflected Rwanda’s confidence in its transformation — not just as a success story, but as a scalable model for African-led development.

Over the past two decades, Rwanda has grown its GDP more than 16 times, driven by disciplined, focused, and intentional reforms. “That’s how we turned a once fragile economy into one of the fastest growing on the continent,” she said. Rwanda now boasts a streamlined business environment where a company can be registered in six hours, full foreign ownership is permitted, and capital repatriation is unrestricted. “We’re not just open for business — we are structured for it.”

Umurungi highlighted key sectors driving Rwanda’s ambitions: a move from import substitution to regional manufacturing; the scaling of agribusiness through projects like the Gabiro Agribusiness Hub; and the push toward sustainable urban development with initiatives like Green City Kigali. Innovation, too, is central — with Kigali Innovation City housing institutions like Carnegie Mellon Africa and BioNTech, and the Kigali International Financial Centre offering 0% capital gains tax and legal protections for investors.

Tourism is being reimagined beyond gorilla trekking. “This is not just about seeing Africa,” she noted, “it’s about experiencing it, owning it, and inviting others to do the same.”

Closing with the fictional journey of a young African, Kalibali, who finds opportunity in Rwanda’s thriving ecosystem, Umurungi reminded investors: “This is already happening in Rwanda… This could be your story too.”

Rwanda Development Board (RDB) is a government institution, mandated to accelerate Rwanda’s economic development by enabling private sector growth.
Under the supervision of the Office of the President, RDB is governed by the Board of Directors made up of global entrepreneurs and experts. RDB was established in 2008 out of a merger of 8 government institutions, primarily to create a One Stop Shop for business and investments. Since then, RDB has been built with global expertise and modelled on international best practice.
Currently, RDB’s key services are: One Stop Center services (business and investment registration, visa facilitation, EIA, tax incentives management, etc.), Investment Promotion, Investment Deals Negotiation, Export & SEZ Development, Tourism and Conservation, and Private Sector Skills Development. RDB is here to provide support throughout the entire investment journey and to ensure that Rwanda remains one of the most competitive places to do business in Africa and the World.