The report, published by Oxford Economics Africa and Control Risks, also highlights the Democratic Republic of Congo (DRC), Kenya, and Uganda as the riskiest investment destinations in East Africa, primarily due to political, social, and economic challenges.

The Africa Risk-Reward Index 2024 gives the DRC a risk score of 7.6 out of 10, followed by Kenya (6.06), Uganda (6.01), and Tanzania (5.37), with Rwanda achieving the safest ranking at 5.11, an improvement from its 2023 score of 5.46.

The reward score considers factors such as each country’s medium-term economic growth forecast, economic size, structure, and demographics. Economic growth outlook holds the most weight in the reward score.

The report also notes a shifting investment landscape across African markets, with the continent at a significant point of change and transformation.

Rwanda’s dedication to poverty eradication and economic development over the past 30 years has been instrumental in boosting its GDP and raising its per capita income to $1,040.

Projections show Rwanda’s economy growing at an average rate of over 7% through 2029, supported by policies aimed at fostering investment. Key initiatives include developing industrial parks, advancing technology, and expanding infrastructure.

Additionally, Rwanda stands out as one of the few African nations pioneering the use of artificial intelligence across multiple sectors, enhancing its appeal as a forward-thinking investment destination.

Rwanda has been ranked as the safest investment destination in East Africa in the ninth edition of the Africa Risk-Reward Index 2024.