Invest In Rwanda, The Ease Of Doing Business In The EAC

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Select the best business in Rwanda, Invest in Rwanda and Start a Business in Rwanda now! You are a Rwandan living in Rwanda or in Diaspora. It is time for you to seize business opportunities offered by Rwanda now.  Rwanda is rising high towards its vision 2020 to become the Singapore of Africa. What you invest now will make returns ten times in few years to come! Kigali City, the capital of Rwanda, is one of the fastest growing cities in Africa. There is nowhere else in Africa easier to do business than in Kigali. The best business development services are in place to help you start and grow your business in very short time.

Come and invest in Kigali and be part of the economic miracle in Africa. There are many opportunities for you to seize in various sectors and you can start with any amount you have now! According to the World Bank Doing Business Report 2018, implementing five reforms saw Rwanda rise 15 places in the 2018 World Bank Doing Business Report to feature in in position 41 globally. Rwanda is 2nd on the continent behind Mauritius. Rwanda is 2nd on the continent behind Mauritius in the latest annual report released yesterday. The report examines the regulations and conditions that enhance or limit business conduciveness. During 2017, Rwanda was placed 56th globally. Kenya came third in Africa (80 globally) followed by Botswana (81st worldwide). In the same year, Rwanda implemented five reforms, making it easier to do business, especially impacting the small and medium enterprises.

Among the reforms include improving construction permit process by increasing quality control and risk-based inspections. The process had hitherto been termed as lengthy and time consuming in the last edition of the report as additional requirements saw Rwanda drop from 37th to 159th position globally in dealing with construction permits. By upgrading existing systems to roll out the Building Permitting Management Information System, the time taken and cost to obtain permits reduced by at least 10 per cent. The system allows applicants to track the progress of their applications online, through SMS and email. Another major reform that helped improve Rwanda’s ranking was easing the payment of taxes by establishing an online payments system.
In the previous edition, Rwanda had slid 11 places largely due to a new law requiring businesses to make monthly declarations as opposed to quarterly, which was found to hold back businesses.
Improvement in registration of property by implementing online services also facilitated Rwanda’s progress. The country is currently the second in the world in property registration after New Zealand. This was made possible by availing information on land, registration of plots across the country and using the Irembo platform for property transfer, among other improvements. Reforms by the Rwanda Development Board also strengthened the protection of minority investors. The new reforms improve conditions for minority investors by upholding shareholders’ governance and control structures as well as requiring more corporate transparency. With the new reforms, the shareholders can sue directors while the reforms also clarify ownership of corporations. The enforcing contracts indicator was also made easier as judgements made at all levels in commercial cases are now made available to the general public via the Judiciary’s website. Previous reports have indicated a major challenge of a disconnect between the implementation of the reforms and the business community. This presented instances whereby, when interviewed by the report’s authors, a number of business operators would be ignorant of reforms. This has since been corrected by ensuring that stakeholders in a specific sector are always updated on reforms. The government communicates and ensures that people in that specific sector get to know about it so that they can experience the reforms,” she said. Current electricity tariffs have consumers with large industries pay Rwf83 per kilowatt, those with medium industries Rwf90 per kilowatt, while the small industries pay Rwf126 per kilowatt. World Bank country manager Yasser El Gammal noted that much of the progress was a result of consistency and being systematic.

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