President Kagame Highlights Electricity as a Cornerstone of Rwanda’s Development and a Key Attraction for Foreign Investors
President Paul Kagame emphasized the critical role of electricity in Rwanda’s development and its importance in attracting foreign investors. He was responding to a question from Milken Institute CEO, Richard Ditizio, during a discussion held in Singapore on September 19, 2024. Ditizio had asked Kagame how Rwanda managed to electrify 76.3% of households.
Ditizio remarked, “One of the remarkable things about Rwanda’s development is the speed of electrification. I was looking back at 2009, and only 6% of Rwandans had access to reliable electricity. This year, that number has exceeded 75%. How did you achieve this so quickly?”
President Kagame explained that Rwanda’s government invested heavily in energy infrastructure because it is foundational to all other aspects of development.
“In everything, we saw that energy infrastructure is vital because it enables all other progress. Investment requires energy, technology requires energy, and so on. Funding came from the government and our development partners, who asked us to clarify our priorities,” Kagame said.
He added that the expansion of electricity has attracted many investors. “This has drawn many investors because of what we have achieved. We have created an environment of confidence, where if people invest in Rwanda, they are guaranteed returns—often surpassing their expectations. This investment has benefited everyone,” he noted.
Rwanda Leads in Facilitating Investment
The World Bank’s ‘Doing Business Reports’ have frequently ranked Rwanda among Africa’s top countries for ease of doing business. Ditizio inquired about Rwanda’s secret to consistently high rankings, and President Kagame responded that Rwanda had made fundamental choices and ensured that citizens understood their importance.
“Rwanda went through difficult times, but we’ve left that behind. To move forward, we had to make political choices and communicate with everyone in the country so that they understood why we must follow these decisions,” Kagame explained.
He highlighted that Rwanda prioritized attracting both foreign and domestic investment to ensure that Rwandans also benefited.
“We considered many aspects of investment, making it cost-effective, creating a safe and secure environment, and ensuring it was linked to a broader market. Our goal was to facilitate movement within the country and especially across the region and continent,” Kagame said.
He concluded that good governance and security have been key factors in making Rwanda an attractive investment destination, as investors do not have to worry about the safety of their businesses.
“Above all, there must be good governance that brings security, so people can invest without being concerned about many other issues,” he stressed.
Under Rwanda’s current National Strategy for Transformation (NST2) 2024/2029, it is expected that electricity will reach all households.