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According to Thapelo Tsheole, Chief Executive Officer of the Capital Market Authority (CMA), the country is in the middle of a regulatory and structural overhaul aimed at positioning Rwanda as a credible, regional financial hub.

Speaking on The Long Form podcast, Tsheole opened up about his personal journey and explained how the Capital Market Authority of Rwanda is introducing new regulatory frameworks to unlock opportunities for both investors and companies.

Rising savings culture and Frw 60 billion in unit trusts

At the heart of Rwanda’s retail-investment growth is the rise of unit trusts, pooled vehicles that allow individuals to invest small amounts collectively.

The two main players, Rwanda National Investment Trust (RNIT) and BK Capital’s Unit Trust, have together amassed over Frw 60 billion in managed assets, growing by more than 30 percent in the past year alone.

Tsheole said unit trusts have helped ordinary Rwandans access the capital market more easily. He noted that such products are regulated and 'a safe place to put money.' During the discussion, it was highlighted that unit trusts currently offer annual returns of around 10—12 percent.

From land to listed assets

Tsheole emphasised the need for citizens and businesses to rethink where they place their money.

'Land is good,' he said, 'but it’s illiquid. Selling it takes time, while government bonds or listed shares can be sold almost instantly.'

CMA’s outreach programmes, conducted in partnership with the Private Sector Federation, now target small and medium-sized enterprises to consider listing or issuing corporate bonds.

CMA runs a nationwide campaign to educate investors on portfolio diversification, moving from 'saving to true wealth creation.'

Toward digital and regional integration

Rwanda’s capital market, still in early stages compared to its East African peers, is preparing for automation. The Rwanda Stock Exchange has begun testing a new trading system that will allow faster, online transactions and remote participation, including from the Rwandan diaspora.

Tsheole said Rwanda’s capital market should have 'long automated as a basic principle,' noting that digitisation is key to improving access, especially for investors in the diaspora.

At the same time, Rwanda is part of an African Development Bank—backed project to interlink regional exchanges, enabling investors in Nairobi, Kampala, or Kigali to trade across borders seamlessly.

A foundation for sustainable growth

Since he assumed his role in June 2024, Tsheole has doubled CMA workforce, strengthened partnerships with institutions such as the Chartered Institute of Securities (UK), and initiated specialised training abroad for Rwandan staff. Two employees are currently on nine-month fellowships in the United States and France, while others are being trained locally through a new partnership with the Chartered Institute.

His vision, he said, is clear: 'There’s no way Rwanda can sustain economic growth for a long time without a developed capital market. It is the cornerstone of every modern economy.'

From Mochudi to Kigali

Raised in the rural village of Mochudi in south-eastern Botswana, Tsheole’s journey to leading one of Africa’s youngest capital-market regulators is rooted in humble beginnings and a deep belief in education as a tool for transformation.

'I come from a poor family. My parents were not in formal employment, and when you come from such humble beginnings, you always have an urge in yourself to succeed, to work hard,' he recalled.

'Education sort of worked for me… I was one of the students who got relatively very high marks, and the encouragement from teachers and the admiration from other students propelled me to keep on pushing.'

That persistence eventually led him into finance. After joining the Botswana Stock Exchange (BSE), he rose through the ranks to become Chief Executive Officer in 2016. Under his leadership, the exchange achieved record profitability, higher listings, and greater investor participation. In 2022, he also served as President of the African Securities Exchanges Association (ASEA).

Having reached the peak of his success in Botswana, Tsheole felt it was time for a new challenge. 'I just felt the best dancer should know when to leave the floor,' he said. 'I had always wanted to work outside the country to have that experience.'

When Rwanda approached him in 2023, he was drawn by what he called 'the Rwanda story', a nation rebuilding with discipline and vision.

'It’s such phenomenal work that has been done, and you can see a lot of growth potential. Yes, the market is relatively small compared to a lot of other African countries, but in terms of potential and growth, it’s there.'

Modernising the rulebook

When he assumed office in Kigali, he found the capital market’s legal foundation 'outdated and overtaken by events.' In response, CMA launched a comprehensive reform agenda that includes updates to the Capital Market Law, Central Securities Depository (CSD) Law, Collective Investment Schemes Regulations, and Virtual Assets Framework.

'You can’t grow the market without proper rules and regulations and laws,' Tsheole said, noting that Rwanda still needed to strengthen its regulatory foundation to support growth.

Among the most urgent priorities is the Virtual Assets Law, expected to be enacted before the end of the year. It will allow Rwanda to regulate cryptocurrencies and digital assets, helping the country avoid being 'grey-listed' for financial-compliance risks.

As reforms take hold and more Rwandans invest through unit trusts and bonds, the capital market is steadily moving from the margins of finance to the centre of Rwanda’s growth strategy.

Watch the full interview below.

Since assuming his role in June 2024, Thapelo Tsheole, Chief Executive Officer of the Capital Market Authority (CMA), has doubled the institution’s workforce, strengthened partnerships with organizations such as the Chartered Institute for Securities & Investment (UK), and initiated specialized overseas training programs for Rwandan staff.

Wycliffe Nyamasege

In the book’s preview, she reveals that during her mother’s pregnancy, it was expected that she would be born a boy and named Kevin.

However, Nishimwe who got married in 20244, also addresses the misconception that she grew up in a life of luxury, providing insight into the more humble circumstances of her childhood.

'More Than a Crown’ touches on various aspects of her life, from her journey as Miss Rwanda to her personal experiences and the values that shaped her.

The book is set to be released on November 14, 2025, and covers 184 pages, including a powerful story of a comment she read on the X platform, which suggested that children from wealthy families never face hardships.

This comment deeply moved her, making her laugh and cry at the same time as she reflected on her own upbringing. While she was born into a loving family, the world she grew up in was far from perfect.

The book also recounts the time when her mother, throughout her pregnancy, told everyone she was expecting a boy named Kevin, even going so far as to buy baby clothes in blue and prepare a bag labeled “Baby Boy.”

While her name was intended to be Kevin, she feels that the name Nishimwe 'Let God be praised' symbolized her parents’ love and commitment for unwavering support.

Nishimwe’s father’s military service

Nishimwe’s father joined the military when he was still young, before the birth of his first child, Kathia, in 1996.

The first birth came during during a period marked by Rwanda’s ongoing recovery from the 1994 Genocide against the Tutsi, and the nation was grappling with the aftermath of the violence, with many survivors left with scars of grief, loss, and trauma.

Families faced immense difficulty in finding out if their loved ones had survived, sifting through destroyed buildings and trying to rebuild their lives.

At the time, Nishimwe’s father, who had played a role in Rwanda’s liberation struggle, was often far from home. His work involved helping families reconnect and rebuild, even at the cost of being separated from his own family for extended periods.

The lack of communication, and the difficulty in sending money home made it hard for them to stay in touch or know how he was doing.

Nishimwe recalls the challenges her family faced during this time, including the scarcity of food, delayed school fees, and the lack of basic necessities.

Christmas was one of the rare times her mother could buy new clothes for everyone in the family, usually just one item each.

Despite the hardships, she fondly remembers how her mother made sure they had what they needed, and how her family, like many other neighbors, persevered through tough times.

Living in a military compound

During this period, Nishimwe’s family lived in a house within a military compound. The compound had a large yard, with mango trees, flowers, and space for the children to play.

Despite this, she notes that they did not consider themselves wealthy. At the time, land was inexpensive, and many families owned large plots.

However, owning land did not equate to financial wealth, as they struggled with the basics such as food and school fees.

Nishimwe remembers that whenever one of the children needed something like a school bag, her mother would patiently explain that there were other priorities.

The most pressing concern was ensuring there was food to eat, clothes to wear, and the money to pay for school. Everything else, such as new items, came as a bonus when they could afford it.

Her mother worked at Radio Umucyo, a Christian radio station at the time, and Nishimwe recalls how she took them there occasionally, which was a source of stability and an opportunity for the family.

She fondly remembers the wisdom her mother imparted, including a focus on faith, believing that prayer and relying on God’s guidance were the first steps in overcoming challenges.

The day Nishimwe was born

The story of Nishimwe’s birth is a pivotal moment in her family’s history. On the evening she was born, her father had left to support his beloved APR FC team at a match.

Meanwhile, her mother, who was pregnant with her at the time, went into labor unexpectedly. Her mother’s sister, Nadine, was visiting and had planned to stay for a week. It was during this visit that her mother went into labor and was quickly rushed to the hospital by taxi.

Her father, eager to ensure that his wife received the best care, raced to the university Teaching Hospital of Kigali after the match, navigating the difficult roads of Kigali, which were dusty.

The urgency of the situation, combined with the conditions of the roads, made for a frantic journey. Despite the challenges, her father made sure they arrived at the hospital, where Nishimwe’s mother, exhausted from labor, was waiting for them after birth.

Nishimwe was born quickly, and although she wasn’t named Kevin as originally planned, her father’s deep love for her and her mother is reflected in the moment he first held her.

The family’s resilience and strength during this moment are emblematic of the journey they had taken together, through adversity, uncertainty, and eventual joy.

Reflecting on this, Nishimwe humorously notes that she was not born with the name Kevin, as her mother had originally planned, but was instead called Naomie.

Her father had nicknamed her “Mubu,” a Kinyarwanda nickname meaning mosquito , because her talking buzzed around and never silenced even after everyone was asleep.

To this day, relatives affectionately greet her as “Mubu, wacu” (our little mosquito), a nickname that continues to make her laugh and reminds her of her childhood.

Nishimwe’s story, as shared in 'More Than a Crown’, offers readers a deep and personal insight into her life, her family, and the values that have shaped her journey.

IGIHE

“We need to move faster — and move together. This COP must ignite a decade of acceleration and delivery,” Guterres made the urgent call in addressing the opening plenary of a two-day leaders’ meeting to discuss pressing climate change challenges and commitments ahead of the 30th United Nations climate change conference, commonly known as COP30, to be held on Nov. 10-21 in Brazil’s Amazon city of Belem.

Not to give up on 1.5 degree global warming goal

Guterres noted in his speech that the world has failed to accomplish the goal of limiting global temperature rise to 1.5 degrees Celsius above pre-industrial levels as established in the 2015 Paris Agreement, warning, “It could push ecosystems past irreversible tipping points, expose billions to unlivable conditions, and amplify threats to peace and security.”

However, based on science, “If we act now, at speed and scale, we can make the overshoot as small, as short, and as safe as possible — and bring temperatures back below 1.5 degrees Celsius before the century’s end,” he said, adding that despite the immense challenge, the world can “choose to make Belem the turning point.”

To limit the overshoot, Guterres stressed the need for a paradigm shift and for governments around the world to take immediate, decisive actions.

Meanwhile, he reiterated the need to support developing countries in moving away from fossil fuels, calling for a clear path to achieving the target of 1.3 trillion U.S. dollars a year in climate finance by 2035, as agreed at COP 29 in Baku.

“Developed countries must take the lead in mobilizing 300 billion dollars annually — delivering affordable, predictable finance at the agreed scale,” he said.

Call for clean energy transition to curb global warming

Leaders from Brazil, France, Chile and other countries on Thursday joined Guterres in urging swift and joint efforts to combat climate change.

In his opening address at the meeting, Brazilian President Luiz Inacio Lula da Silva called for accelerating the energy transition to renewable sources and strengthening environmental protection.

“Accelerating the energy transition and protecting nature are the two most effective ways to contain global warming,” Lula da Silva told the more than 70 representatives from governments and international organizations.

“Clean energy is winning on price, performance, and potential — offering the solutions to transform our economies and protect our populations,” said Guterres in his address, adding that in 2024, almost all new power capacity came from renewables.

As solar and wind are the cheapest and fastest-growing sources of electricity in history, millions are connected to clean and affordable energy for the first time, while the clean-energy economy is creating jobs and driving development, the UN chief noted.

Before the convening of the leaders’ meeting, Brazil’s Environment and Climate Change Minister Marina Silva called the meeting an opportunity for governments to highlight the global shift toward renewable energy sources from fossil fuels.

Lula da Silva also called on governments to allocate more resources to environmental protection. On Thursday, the multilateral Tropical Forests Forever Facility fund was launched at the leaders’ meeting. The Brazil-proposed climate finance mechanism aims to incentivize countries that protect tropical forests, which are known as the “lungs of the earth.”

The upcoming COP30 is expected to guide climate-related negotiations, with an agenda focused on climate and nature, energy transition, Paris Agreement implementation review, nationally determined contributions and climate finance.

UN Secretary-General Antonio Guterres has reiterated the need to support developing countries in moving away from fossil fuels and called for a clear path to achieving the target of 1.3 trillion U.S. dollars a year in climate finance by 2035, as agreed at COP 29 in Baku.

Xinhua

Analysts believed that the escalation is part of Israel’s calculated pressure campaign against Hezbollah.

The Israeli military said Thursday in a statement that it has “begun a series of strikes on Hezbollah military targets in southern Lebanon,” with army spokesperson Avichay Adraee issuing specific evacuation warnings for the villages of Al-Tayyiba, Tayr Debba, and Aita al-Jabal.

Lebanese sources said Israeli airstrikes on Thursday killed one person and injured eight others in the municipality of Toura in the south, and injured one more in Tayr Debba.

The latest strikes have triggered fresh displacement, with heavy traffic reported as residents flee targeted areas. Several private schools in southern Lebanon’s Nabatieh area announced closures on Friday to avoid exposing students and teachers to danger.

The attacks marked the latest in a series of escalating Israeli operations that Lebanese sources said have intensified throughout early November.

According to the sources, the Israeli army carried out 22 military operations during the first week of November alone, including air raids, artillery shelling, and house demolitions.

“These military operations resulted in the death of eight people and the injury of 10 others, the destruction of six houses, the burning of four bulldozers, and extensive damage to civilian property and infrastructure,” the sources told Xinhua on Thursday.

This followed October’s casualties, which the Lebanese Health Ministry reported as 28 killed and 54 injured from Israeli shelling.

Also on Thursday, a senior Lebanese military intelligence source revealed that “the Lebanese army is working with full force to clear areas south of the Litani River of weapons and militants,” having established positions in 118 locations and destroyed dozens of military sites and tunnels.

Lebanese army units have completed about 90 percent of their assigned first-phase mission, which is set to conclude by the end of this year, the source said.

Meanwhile, Hezbollah issued on Thursday an open letter to Lebanese President Joseph Aoun, Parliament Speaker Nabih Berri, and Prime Minister Nawaf Salam, warning against “slipping into negotiation traps” with Israel.

“There is no national interest in political negotiations with the Israeli enemy,” the statement said, adding that Israel is using “blackmail” to impose conditions, including the disarmament of Hezbollah, as a prerequisite for ending hostilities, which is “unacceptable and not included in the ceasefire declaration.”

The United Nations Interim Force in Lebanon has repeated its deep concern about the escalation of military operations on both sides of the Blue Line, urging all parties “to exercise restraint and maintain open communication channels to avoid miscalculation.”

A ceasefire between Hezbollah and Israel has been in effect since Nov. 27, 2024. Still, the Israeli army continues to conduct occasional strikes in Lebanon, citing operations against Hezbollah “threats,” while maintaining forces at five main positions along the Lebanese border.

“Lebanon currently stands on the brink of a new confrontation,” Lebanese political analyst Nidal Issa told Xinhua, describing the situation as “part of Israel’s ‘pressure by fire’ policy aimed at imposing its conditions before sliding into what could be called a full-scale war.”

Despite the intensified operations, “Hezbollah is striving to maintain the deterrence balance without being dragged into an all-out war, viewing Israel’s demand for its disarmament as a condition meant to humiliate Lebanon,” Issa said.

Refaat Badawi, political analyst and advisor to former Lebanese Prime Minister Salim al-Hoss, believed the escalation “aims at imposing pressure on Hezbollah and the Lebanese government to enter direct or indirect negotiations under a diplomatic framework that may lead to normalization of ties between Lebanon and Israel.”

“Israel is imposing this pressure to blackmail Lebanon and keep the status quo in southern Lebanon, to stop Lebanon from demanding Israeli withdrawal from the south, and to return to the 1949 ceasefire agreement,” Badawi said.

Photo taken on Nov. 6, 2025 shows people inspecting buildings destroyed by Israeli air raids in the southern town of Tayr Debba, Lebanon. Lebanese sources said Israeli airstrikes on Thursday killed one person and injured eight others in the municipality of Toura in the south, and injured one more in Tayr Debba.

Xinhua

The returnees crossed through La Corniche main border post, which links Rwanda with the DRC. The majority of returnees are women and children.

They arrived on November 6, 2025, before they were taken to Nyarushishi Transit Center in Rusizi District.

These returnees had been living in a temporary camp in Goma after fleeing from various regions of eastern DRC, where they had been held captive.

The Mayor of Rubavu District, Prosper Mulindwa, welcomed the returnees, reminding them that Rwanda is a caring motherland. He assured them that the country would continue to take care of their well-being.

“Even if you don’t have a biological parent, the country will take care of you. It will continue to protect you in the face of the challenges you have encountered. Those who had property in the areas they left will be helped to reinstate ownership. Those who do not have property will be assisted to rebuild their lives with support from the government,” he said.

Mulindwa also mentioned that once the returnees receive their identification documents, the government would provide assistance to help them reintegrate into normal life.

The support will include basic financial aid to help them restart their lives. Those aged above 18 will receive $188 (approximately Frw 272,000), while those under 18 will get $113 (approximately Frw 192,000). Additionally, each person will receive basic food supplies valued at Frw 45,000.

Rwanda had recently welcomed 326 other Rwandans who had been held captive by the FDLR, joining thousands of others who have returned since January 2025.

These returnees had been living in a temporary camp in Goma after fleeing from various regions of eastern DRC, where they had been held captive.

The Mayor of Rubavu District, Prosper Mulindwa, welcomed the returnees, reminding them that Rwanda is a caring motherland.

Rwanda has received over 220 nationals who had been held captive by the FDLR, a terror group operating in the Democratic Republic of Congo (DRC).

The returnees crossed through La Corniche main border post, which links Rwanda with the DRC.

IGIHE

The arrest follows a recent operation in which 14 tons of coffee were seized at the Kobero border, a legal trade route between Burundi and Tanzania.

Investigators believe the shipment was ultimately intended for Rwanda. According to sources cited by SOS Médias Burundi, SNR agents were dispatched to Ngozi to arrest Colonel Ndoreraho.

Upon hearing about the planned arrest, he is said to have gone into hiding. In response, authorities reportedly detained his wife in an attempt to pressure her into disclosing his location.

After several days on the run, Colonel Ndoreraho is said to have voluntarily turned himself in to SNR agents on November 3, 2025, and was then taken to Bujumbura for further interrogation.

Following his arrest, Lt Col Jean-Bosco Niyonsenga was appointed as the acting police commander for Ngozi. Colonel Ndoreraho remains in SNR custody as investigations into the alleged coffee smuggling and attempted corruption continue.

After several days on the run, Colonel Ndoreraho is said to have voluntarily turned himself in to SNR agents on November 3, 2025.

IGIHE

This recognition comes as Rwanda showcases its tourism offerings at the World Travel Market (WTM) in London.

From November 4 to 6, 2025, a Rwandan delegation, including representatives from the Rwanda Development Board (RDB), the Rwandan High Commission in the United Kingdom, RwandAir, and several private sector operators, is attending the event to promote the country’s attractions and build partnerships with international buyers and media.

Participating companies include RwandAir, Primates Safaris, Hermosa Life Tours, Wilderness, Blue Monkey, Triple Legacy Travels, Kings Safaris, and Wildlife Tours.

During the trade show, Rwandan representatives engaged in business meetings and media sessions to highlight the country’s unique experiences, including business travel, safaris, adventure, and leisure. The goal is to convert interest into tangible travel opportunities.

RDB emphasized that the country’s participation aims to enhance Rwanda’s global tourism profile and encourage sustainable visitor flows.

WTM London, recognized as the 'birthplace of the global travel trade,' provides a vital platform for making connections, fostering collaboration, and driving growth within the travel sector.

Rwanda has earned the bronze medal in the 'Most Desirable Emerging Destination' category at the Wanderlust Travel Awards 2025.

This recognition comes as Rwanda showcases its tourism offerings at the World Travel Market (WTM) in London.

Karirima Aimable Ngarambe

The factory, A-ZF Global Trading, located in the Masoro Industrial Zone in Gasabo District, currently has a production capacity of 100,000 cups per day, with plans to expand to 500,000 cups daily within the next two years.

Starting with 20 employees, the factory expects to grow its workforce to 300 in the same period, supporting the government’s goal of creating 1.25 million jobs in five years.

'This is the first factory of its kind in Rwanda,' said Ismael Ndayisenga, Managing Director of A-ZF Global Trading. 'These products were imported mainly from China and Dubai. We aim to offer Rwandans faster access, better prices, and high quality.'

The cups are made from biodegradable paper, including both the cup and lid, to support the country’s efforts to reduce plastic use and protect the environment. Customers can also request custom branding, such as company logos or event designs.

Ndayisenga said the company plans to expand its market to neighbouring countries and diversify into other packaging materials, such as cartons and wrapping paper, to further reduce imports.

Under the National Strategy for Transformation II (NST2), Rwanda aims to double private investment from $2.2 billion to $4.6 billion by 2029, with manufacturing expected to play a major role.

Hugues Kagame, a technical advisor at the Ministry of Trade and Industry, supporting the implementation of Rwanda’s Entrepreneurship Development Policy (EDP), said the government is supporting industrial growth through incentives such as tax relief and reduced production costs, to make local products more competitive internationally.

He noted that A-ZF Global Trading contributes to the Made in Rwanda initiative by producing items that were previously imported, helping to raise industrial output by 10% in the coming years.

Rwanda’s industrial sector has tripled in output since 2017, rising from Frw 591 billion to Frw 1.68 trillion by early 2025. The number of people employed in manufacturing has also increased from 180,000 in 2017 to 259,000 in 2024, reflecting continued growth in the sector.

This is the first paper cup manufacturing plant to be inaugurated in Rwanda.

The cups produced by A-ZF Global Trading are fully biodegradable, making them environmentally friendly and aligned with Rwanda’s efforts to reduce plastic waste.

A member of staff inspects the cup-making machine at A-ZF Global Trading.

Starting with 20 employees, the factory expects to grow its workforce to 300 in the same period, supporting the government’s goal of creating 1.25 million jobs in five years.

The Managing Director of A-ZF Global Trading, Ismael Ndayisenga, said the company plans to expand over the next three years to achieve a daily production capacity of 500,000 cups.

Officials tour A-ZF Global Trading’s plant to learn about its paper cup production process.

Photos: Kwizera Herve

IGIHE

This growth, which far exceeds the pace of Chinese exports to Rwanda, underscores the expanding trade relationship between the two countries, fueled primarily by Rwanda’s agricultural exports to China. A key driver of this success has been the China International Import Expo (CIIE), which has provided a vital platform for Rwanda to expand its presence in China’s vast market.

Rwanda has participated in every edition of CIIE since its inception, drawn by concrete gains. A standout example is its chili pepper industry. At the inaugural CIIE, Rwanda secured a two million U.S. dollars chili oil order, laying the groundwork for it to become Africa’s first nation to export dried chilies to China in 2021. Beyond individual orders, this collaboration has built integrated supply chains — such as a farm in Rwanda’s Nyagatare region, a joint effort with Hunan’s Grain and Oil Import and Export Group.

The farm employs up to 400 local women during harvest peaks, offering wages three to five times higher than traditional incomes. After harvesting, the peppers are processed in a nearby factory before being shipped to China, where they are further refined and distributed across major supermarkets. This project has not only improved local livelihoods but also ensured that Rwandan chili meets Chinese customs standards, enabling large-scale cross-border trade.

The true value of CIIE — and of the other expos, including the China-Africa Economic and Trade Expo, Canton Fair and China International Fair for Trade in Services (CIFTIS), that Rwanda has consistently been active in participating in — lies beyond the immediate orders they help secure. They offer long-term opportunities for market expansion and brand recognition.

Rwanda is focused on building the “Made in Rwanda” brand, aiming to enhance the reputation of its products in global markets, empowered by innovative sales channels like live-streaming. This year, we will showcase avocados at CIIE for the first time, aiming to replicate the success of our coffee and tea — products that have gained footholds in Chinese markets through previous expos.

This progress, visible through the CIIE window, is firmly rooted in the long-term framework of the Forum on China-Africa Cooperation (FOCAC) which has laid solid institutional foundations for China-Rwanda cooperation across multiple sectors. FOCAC’s commitments have driven concrete steps to narrow trade imbalances, notably through the full implementation of China’s zero-tariff scheme for African countries, including Rwanda, to make the exports more competitive.

The critical infrastructure development, industrial partnerships and financial support facilitated by the Belt and Road Initiative (BRI), these elements have enabled Rwanda to expand its export capacity, build a stronger manufacturing base and upgrade local industries. Equally vital to this evolving partnership is the deepening people-to-people exchange.

Rwandan students who have studied in China have returned with technical expertise, innovative business models and invaluable insights into global markets — many of them later showcasing their products at expos like the CIIE. This exchange fosters two-way flows of technology and management experience, preparing the workforce for the opportunities that come with China-Rwanda industrial and economic partnerships.

Building on this strong foundation, Rwanda’s investment climate continues to evolve, strengthened in particular by the 2021 Investment Promotion Law, which offers attractive tax incentives, streamlined administrative processes like faster business registration, and lower barriers for foreign investors. Combined with a stable environment and a strong focus on business growth, these factors make Rwanda an ideal destination for Chinese enterprises looking to expand into Africa.

Beyond opportunities in agriculture and local processing as mentioned, Rwanda’s goal of becoming Africa’s leading tech innovation hub aligns seamlessly with China’s strengths in digital technology. In 2018, the same year Rwanda and China signed the Belt and Road cooperation memorandum, Alibaba Group launched Africa’s first electronic World Trade Platform (eWTP) in Rwanda, offering a breakthrough opportunity for African businesses to tap into global digital markets.

With increasing demand for smart city solutions, 5G infrastructure, and data centers, Chinese companies are well-positioned to contribute, leveraging their technical expertise and cost advantages to benefit Rwanda’s growing population. Expanding digital payment systems in rural areas, for example, could help smallholder farmers and SMEs receive payments more quickly and access microloans, empowering them to increase production and fully capitalize on the digital and trade partnership with China.

As China enters a phase of high-quality development following the completion of its 14th Five-Year Plan, its achievements in fostering a resilient economy and advancing technological manufacturing are clear.

China’s steadfast commitment to continuing its opening-up and furthering international cooperation serves as an inspiring model for African partners. Platforms like the CIIE exemplify this approach, offering opportunities to build new supply chains and unlock both nations’ economic and market potential. As Rwanda looks ahead, it is eager to deepen its collaboration with China, driving mutual growth, innovation and long-term prosperity.

The author, James Kimonyo is Rwanda’s Ambassador to China. As a veteran diplomat, James Kimonyo has served as Rwanda’s ambassador to South Africa, the U.S. and Kenya, and his trip to China at the end of 2019 is his first permanent posting to an Asian country.

Amb. James Kimonyo