Rwanda development Board (RDB) says that Africa Hotel Investment Forum has been a success in wooing private investors in Rwanda and foreigners to invest in the industry to boost tourism.
The meeting was held in Kigali from 4th to 6th October, 2016 bringing together 600 participants working in hotel related activities at international level, investors and service providers among others.
The Head of Investment Promotion and Facilitation at RDB, Innocent Bajiji has told the press that Rwanda reaped big from the forum where investors shared knowledge and experiences in the hospitality sector.
“We have benefited a lot from the forum as we plan to promote tourism, positioning our country to host great meetings. Expectations were successfully met. Important discussions were held in the forum where managers from Rwanda’s institutions met their counterparts from foreign institutions and we hope for successful results in the future,” he said.
During the launch of the forum, the CEO of Rwanda Development Board (RDB) , Francis Gatare said that investment opportunities in the hospitality sector abound in the aviation sector and hotels.
“ We want to encourage all investors to grab the opportunities available in Rwanda .Recent statistics indicate that Rwanda’s GDP growth falls between 7-8% per annum . We cannot forget that service sector contributes 49% to the total GDP with hospitality bringing in the largest contribution,” he said.
Through the meeting, Rwanda elaborated to foreigners the investment opportunities at the shores of Lake Kivu among other attractive landscapes of Rwanda including Virunga National Park, home of mountain gorillas.
Rahul Chaudhary, the Executive Director of CG Corp Global which owns over 100 hotels in more than 70 cities across the world including Zinc Hotel in Rwanda was among the presenters during the forum.
In an exclusive interview with IGIHE, Chaudhary said that his company invested in Rwanda after a thorough evaluation of investment environments in five countries of East Africa including Rwanda, Uganda, Burundi, Tanzania and Kenya.
“We have observed and found that Rwanda is the best first country in which we had to invest; security is assured and it is a fast growing economy. Indeed, the country has good infrastructures compared to other countries from East Africa,” he said.
“The president of Rwanda implemented best methods, where regional meetings are attracted to be held in Kigali. Kigali is evolving as a model of great meetings and markets itself. In recent few months, Kigali hosted World Economic Forum, African Union Summit and are followed by Africa Hotel Investment Forum,” he added.
Tourism earned USD 340 million in 2015 an increase of 10% from 2014. The government targets to increase 25% of tourism revenues annually.