Rwanda

Rwanda remains sub-Saharan Africa's most compelling governance-led investment story: a small, landlocked economy that compensates for scale with institutional quality, predictability and execution. Real GDP grew roughly 7.2% in 2024 and through H1 2025, with the IMF and World Bank projecting ~6.7–7.3% through 2025–27, led by services, construction, exports and a fast-rising ICT sector.

Kigali has cemented itself as the continent's premier conference and emerging financial hub: the Kigali International Financial Centre crossed $1bn in targeted commitments in its first five years and now ranks 2nd in sub-Saharan Africa on the Global Financial Centres Index. The Rwanda Development Board registered $2.62bn across 799 projects in 2025, and the distinctiveness is structural — record-best governance scores, a one-stop investor experience, and a deliberate 'convener of Africa' brand.

The dominant risk is twofold: a small domestic market (~14m) that makes most theses regional/export plays, and — more acute for 2025–26 — regional exposure to eastern DRC, where M23's advances drew US and EU sanctions touching Rwandan officials and the state mining agency. Sophisticated investors must price conflict-minerals compliance and reputational risk even as the macro holds.