Discover The Economy Of Kigali Rwanda 2021 | African Cities To Invest In
Channel: TR MEDIA
Date: 2021-09-19

Rwanda’s economy has been on boom in the last decade, thus it is no surprise that the real estate industry in its capital, Kigali is growing at an exponential rate. 20 years after the Rwandan genocide, Rwanda is becoming an East African success story. After the genocide of 1984, Rwanda’s economy plummeted as the war brought more than half a million casualties. It led to the impoverishment of its population, devastating Rwanda’s already fragile economy, which shrank by 50% within the year of the genocide, and the Per capita income dropped to $80 a year. Since then, Rwanda has made significant progress and development in the economy, as indicated by the Gross Domestic Product (GDP) annual growth rates. Exports of coffee and strong tea and a successful government policy were the main contributions to the growth. The government of Rwanda has implemented successful regulatory reforms since 2008. The reforms include new intellectual property law, a law establishing the Kigali international centre, a law on arbitration and conciliation in commercial matters, and a new company law adopted in 2009. These laws have reduced bureaucratic barriers, creating a conducive environment for both domestic and foreign investors. Kigali is the capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. The city has been Rwanda's economic, cultural, and transport hub since it became the capital following independence from Belgian rule in 1962.

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