From All Africa

A delegation of 75 Kenyan businesses is in the country to assess the business environment with a view to scaling up investments. Heads of companies from construction, agribusiness, manufacturing, real estates, education services, energy sector and export industry, among others, are currently exploring viability of their business in the country.

Samuel Kirubi, the managing director of Equity Bank and head of the delegation, said the investors have not only been attracted by the conducive business environment in the country, but also the need to take full advantage of the recently signed Tripartite agreement between Uganda, Kenya and Rwanda. “Rwanda has become a popular destination for investment on the continent. This is a great opportunity for Kenyans,” Kirubi said.

John Mwangemi, the Kenyan ambassador to Rwanda, said his compatriots were making the right choice by choosing to invest in Rwanda. “The choice you are making is timely. There is no doubt that two countries have a lot to offer each other, especially in bilateral trade,” he said. Mwangemi added that Kenya must learn from Rwanda’s experience, especially in business reforms and investor-protection.

Market stability:

Rwanda was last month ranked 32nd business-friendly country out of 189 countries in the World Bank Doing Business report 2014. It was ranked second in Africa. “There is no doubt that Rwanda has done remarkably well in these areas,” the envoy said while meeting the delegation in Kigali yesterday.

He also called upon the business community from both countries to take full advantage of the regional integration, especially the recently signed Tripartite framework on a single customs territory.

Written by Peterson Tumwebaze | Read more at All Africa