STAFF WRITER
RWANDA private sector has urged local firms to forge mutually beneficial partnerships with companies from the east African country as Zimbabwe looks for new markets.
Zimbabwe’s economy last year contracted on the backdrop of a devastating drought, rolling power cuts and low exports.
Rwanda’s Private Sector Federation chairperson, Robert Bafakulera, said there are plenty of opportunities for businesses in Zimbabwe especially in areas such as manufacturing and agroprocessing.
Bafakulera said the conference will provide a perfect platform for Zimbabwe businesses to identify the opportunities.
The Rwanda Zimbabwe Trade and Investment Conference will be held in Kigali, Rwanda from March 24 to March 26 this year.
Businesses in Zimbabwe are already signing up to attend the conference which is being organised by the Rwanda Development Board (RDB) and ZimTrade.
“The Private Sector in Rwanda is very happy to receive businesses from Zimbabwe for the purpose of building capacity and networks,” Bafakulera said.
“We know very well that Zimbabwe is in Comesa and Rwanda is in Comesa. We share a lot.”
The common market for Eastern and Southern Africa is a free trade area with twenty-one member states stretching from Tunisia to Eswatini.
Bafakulera said the Rwanda-Zimbabwe Trade and Investment Conference will help to unlock opportunities for both countries.
“ This conference will open for business partnerships and business collaboration between businesses in Rwanda and businesses in Zimbabwe,” he said.
“Rwanda is a country where the business environment is very good and there is support from the public sector.
There are a lot of opportunities in various areas, manufacturing, agroprocessing and trade. There are a lot,” he said.
RDB Head of Export Processing Zones and Exports Department, Diane Sayinzoga, said there are plenty of opportunities especially for cotton farmers in Zimbabwe as the demand for the crop in Rwanda is high.
“There are a lot of opportunities here in terms of fruits and for Rwandans as well there are opportunities in terms of ICT products and smartphones,” Sayinzoga said.
“We opened a smartphone manufacturing plant which is a very big opportunity for exports in Rwanda.
Because we have direct flights, Rwanda Air is flying to Zimbabwe everyday so it really makes the business partnership between our two countries easier.
“In Rwanda we don’t have cotton and in Zimbabwe, you have nice cotton so that is also another area where there are a lot of opportunities for Zimbabwean manufacturers and those who are in textile and the whole value chain of cotton.”.
Rwanda has vast opportunities in sectors such as manufacturing, construction, education, fruits and vegetables, infrastructure, agriculture, energy, cotton and sugar exportation, tourism, ICT among others.
The East African country has one of the fastestgrowing economies in Africa, projected to grow above 8% in 2020.
With a population of 12.6 million people with a rapidly growing middle class, Rwanda has plenty of opportunities to Zimbabwean businesses intending to invest there.
Rwanda recently launched the first-ever “Made in Africa” smartphones, the Mara Phone.
The two types of smartphones include the Mara X with 16GB of storage and the more advanced Mara Z with 32GB of storage. These products are modestly priced making it a low hanging fruit for Zimbabwean businesses wishing to import for resale in Zimbabwe.
In addition, Rwanda is the hub for ICT innovations which Zimbabwe can benefit through joint ventures and partnerships.
Rwanda is the first country on the continent to feature fully electric cars from Volkswagen.
The cars were launched in Kigali last year in October. They are being assembled in Rwanda’s Special Economic Zone in Kigali.
An added advantage is that Rwanda’s national carrier, Rwandair, has daily direct flights between Harare and Kigali.
The direct flight takes less than three hours. Rwanda is a hub for a rapidly integrating Africa, is centrally located in the region and is part of East African Community Common Market and Customers Union with a market potential of over 132 million people.
The EAC has combined Gross Domestic Product of more than US$177 billion.
DRC, which borders Rwanda, is also a strategic market. It has a potential market for over 81 million people.
The DRC relies on Rwanda to service its vast eastern region which is rich in mineral resources.
The Rwanda Zimbabwe Trade and Investment Conference will unpack all the available opportunities in Rwanda, provide a platform to identify partnerships and bring a broader understanding of Rwanda’s friendly investment environment.
