According to statistics provided by the Rwanda Development Board (RDB), the nation's investment and tourist development organization, the nation attracted investments totaling $1.6 billion in 2022. Of these, 49 projects totaling $182.4 million, or 11.2%, were funded by China. India placed second with a portfolio of investments totaling $151 million, or 9.2%, and 36 projects.
China continued to have the most registered investments in 2021 with $357.7 million, or 9.5% of the $3.74 billion in total registered investments at the time.
Kenya, with an investment of $92.6 million or 2.5%, became the second investor. Only 2.2% of the total investment value, a $35.8 million investment was made in Kenya in 2022.
According to the research, manufacturing, financial services, and insurance industries accounted for 45.6% of all registered investments in 2022 and are anticipated to provide 38.5% of the employment brought about by investments.
Additionally, it demonstrates that, for the first time, local investors are driving private investment in the nation, with 123 projects accounting for almost $504.8 million, or 33.1% of the overall investment. Leading local investors include Crystal Ventures Ltd, a multimillion-dollar private investment corporation owned by the nation's ruling Rwanda Patriotic Front (RPF).
Kigali is concentrated on luring business and visitors from Europe even though Asia is still Rwanda's major source of investment. And despite criticism, Rwanda has maintained that its sponsorship agreements with football clubs are successful without providing specific numbers.
President Paul Kagame recently emphasized that the agreement with the English Premier League team Arsenal Football Club is yielding positive results.