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Rwanda

Republic of Rwanda

English, French, Kinyarwanda Rwandan Franc (RWF) Mixed: Civil law (Belgian), common law influences, customary law
AU, EAC, COMESA, AfCFTA, Commonwealth, WTO

Rwanda has emerged as one of Africa's most compelling business destinations, renowned for its governance excellence, ease of doing business (ranked 2nd in Africa by the World Bank), and ambitious Vision 2050 development strategy.

The Rwanda Development Board (RDB) offers a seamless one-stop center where company registration takes less than 24 hours. Kigali is positioning itself as a regional hub for technology, financial services, and conferences through the Kigali International Financial Centre (KIFC) and the state-of-the-art Kigali Convention Centre.

The economy has averaged over 7% annual GDP growth over the past two decades, driven by services, construction, and agriculture. Rwanda consistently ranks among the least corrupt countries in Africa (CPI score 53, rank 49). Challenges include a small domestic market, limited natural resources, and landlocked geography.

Snapshot

Population~14.6 MWorld Bank, 2025
GDP (current USD)$16.4 BWorld Bank, 2025
GDP per Capita$1,124World Bank, 2025
GDP Growth9.38%World Bank, 2025
Inflation (y/y)~5.91%World Bank, 2025
Central bank rate6.50%Central Bank
Unemployment11.36%World Bank, ILO modelled estimate, 2025
Internet Use~31.70%World Bank, 2024
Electrification~48.00%World Bank WDI
CPI Score (Rank)53.0/100 (#49)Transparency Intl
HDI (Rank)0.548 (#165)UNDP HDR
Credit RatingB+ (S&P) / B2 (Moody's) / B+ (Fitch)S&P / Moody's / Fitch
MarketRwanda Stock Exchange (RSE)

World Bank Indicators Compare with another country

GDP (current USD)$16.4 BWorld Bank, 2025
GDP growth (annual)9.38%World Bank, 2025
GDP per capita (USD)$1,124World Bank, 2025
Population, total14.6 MWorld Bank, 2025
FDI net inflows (USD)$572.9 MWorld Bank, 2024
Inflation (consumer prices)5.91%World Bank, 2025
Unemployment (% labour force)11.36%World Bank, 2025
Internet use (% of people)31.70%World Bank, 2024
Trade (% of GDP)56.67%World Bank, 2025

Country Facts

CapitalKigali
RegionEast Africa
CurrencyRwandan Franc (RWF)
FX RegimeManaged float
Stock ExchangeRwanda Stock Exchange (RSE)
Investment Promotion AgencyRwanda Development Board (RDB)
Legal SystemMixed: Civil law (Belgian), common law influences, customary law
Time ZoneAfrica/Kigali

Focus Sectors

ICT & Innovation
Tourism
Agriculture (coffee
tea)
Mining (tin
tantalum
tungsten)
Financial Services
Manufacturing
Construction
Energy
Real Estate
MICE (Meetings/Events)

Trade

Top Export Partners (2023)

UAE
25%
Democratic Republic of Congo
16%
Switzerland
8%
Thailand
5%
Pakistan
4%

Top Export Goods

GoldTin oresCoffeeTeaNiobium/tantalum ores

Top Import Partners (2023)

China
15%
India
10%
UAE
9%
Kenya
7%
Tanzania
6%

Top Import Goods

Refined petroleumMachineryVehiclesIron and steelPharmaceuticals

Finance & Capital Markets

CurrencyRwandan Franc (RWF)
Central bank rate6.50%
FX regimeManaged float
ExchangeRwanda Stock Exchange (RSE)

Major Banks

Bank of KigaliCommercial
I&M Bank RwandaCommercial
Equity Bank RwandaCommercial
Access Bank RwandaCommercial
BPR (Atlas Mara)Commercial

Regulations & Taxes

Corporate Income Tax30% (0% for registered investors in priority sectors for up to 7 years)
VAT / Sales Tax18% standard
Withholding Tax15% dividends, 15% interest, 15% royalties (non-residents)

Talent

Median Age19.7 yrsUN Population
Adult Literacy73.20%World Bank UIS
Youth (<25)60.00%
LanguagesEnglish, French, Kinyarwanda

Recent Deals (6)

View All Deals
GrowthJan 2023
$200M

Bboxx

Lead: Mitsubishi

Series AJun 2022
$5M

Kasha

GrowthJun 2022
$1M

Tap and Go

Debt FacilityJun 2022
$50M

Bboxx

SeedJan 2022
$3M

VIEBEG

Series AJan 2022
$7M

AC Group Rwanda

Lead: DOB Equity