By David Himbara
What Do We Learn From The Latest Foreign Investment Figures For Rwanda? Kagame Should Transform The Country Into Kenya, Before Trying To Become Singapore
According to the National Bank of Rwanda’s recently issued report on Foreign Direct Investment (FDI) into Rwanda, the following are the amounts and countries from which FDI originated:
- Mauritius: US$ 155 million
- USA: US$ 70 million
- Kenya: US$ 51 million
- China: US$ 23 million
From this data, we firstly see that the largest FDI into Rwanda comes from Africa. The bulk of FDI comes from Mauritius and Kenya with a combined total of US$206 million. The combined FDI from the US and China amounts to US$93 million. Secondly, Kenya’s FDI into Rwanda more than doubled that of China.
Within East Africa, Kenya is on the move in other ways. Per capita income in Kenya has now reached middle income at US$1,376.7 versus Rwanda’s US$697.3. Kenya is already where Kagame dreams to be in three years – middle income with per capita of US$1,150.
Mr Kagame, please learn how to crawl before you can walk. Try becoming Kenya before Singapore whose per capita income is US$52,888.7. Even Mauritius is far beyond your reach Sir, with capita income of US$9,252.1.