The African nation of Rwanda is showing signs of growth after achieving its US$1.2 billion direct investment target within only six months, said the Rwanda Development Board. The target of the country was US$1.3 billion for the entire year of 2013.
Furthermore, the government board said that the investments were led by domestic investors. These local entrepreneurs represented a total of $509.1 million. Foreign direct investments totaled US$406.9 million, while the remaining US$338.1 million are from joint ventures. All figures were sourced from the Rwanda Development Board.
The data showed that more and more Rwandans are penetrating the private sector which means more jobs will be created, capital flight will be decreased, and more tax receipts.
The Rwanda Development Board announced that almost 90% of placements in the country were already implemented and are currently in development, and 48% are fully operational.
The country's goal is to stand on its own feet by financing its own development, said Rwandan analysts.
Join the Conversation