Special Market Reports, Issue 76: Rwanda

By On 21st October 2016

Frank Mustaff, Managing Director of Horwath HTL in Rwanda, has written our latest Rwanda Market Report.

Extract from our Rwanda market report

Rwanda is the smallest country in the East Africa region. It has nevertheless managed to conquer the news and receive high appreciation for the economic and social achievements during the last two decades.
With a total population of around 12 million on a land area of 26,338 km², Rwanda is the highest densed country in the region.
The country is a member of the East African Community (EAC) which comprises Kenya, Tanzania, Burundi, Uganda and South Sudan.

Rwanda is constantly among the top performers on various indicators on the continent. Indeed, Rwanda’s economic progress, governance and healthcare features in fourth, third and sixth place respectively and is in the top three best places in Africa for doing business.
Rwanda is also listed among the countries with the strongest economic growth worldwide. During the years 2006 to 2015, Rwanda has achieved an average GDP growth of over 5% which also puts it on top compared to the EAC partner countries. The tourism development shows equally tremendous results.

For many years, hotel business in Kigali was considered to be an easy business as undersupply lead to unsustainable hotel projects. Nowadays, though, a number of hotels are having serious problems and can be classified as distressed properties. An equity investor with a sound experience in hotel management could find interesting opportunities among these.

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