Up Next? Rwanda Primed To Be Africa’s Next Economic Powerhouse

Up Next? Rwanda Primed To Be Africa’s Next Economic Powerhouse

From CNBC Africa

Rwanda is developing into a leading economic performer on the continent and has significantly high growth forecasts.

“One can fairly say the stage is set for good prospects. The main reason behind all of this is there seems to be a sense that there is good leadership that’s leading this reform agenda. You get a sense, when you’re in Kigali, that things have to get done sooner rather than later. You’re seeing it throughout the whole economy. There’s positive movement,” Rand Merchant Bank sovereign risk analyst Brian Dlamini told CNBC Africa.

“Economic growth is forecasted [at] eight per cent for this year, according to government, 10 per cent next year. They want to reduce poverty to below 30 per cent by 2017. It’s all looking quite positive.”

Rwanda is widely recognised as one of sub-Saharan Africa’s thriving economies, and a leading reformer in the continent.

There are however questions as to who will be current president Paul Kagame’s successor,  and whether they will be able to continue his successful reforms as well as continue to implement successful ones.

“The sense is that there is a plan, and the plan lives beyond an individual or a person. There are targets to be fulfilled and across the board, it’s everyone’s responsibility to make sure that those are fulfilled. Everyone wants to get these targets of growth, poverty being reduced, because it affects Rwandans in general,” Dlamini explained.

Rwanda’s economy has traditionally been dependent on tea and coffee production, but its tourism industry is also turning it into a key player in the East African region.

Read more at CNBC Africa.