Host country – Rwanda
Rwanda is a developing country that has undergone rapid industrialization thanks to successful government policy. Since the early-2000s, Rwanda has witnessed an economic boom improving the living standards of many Rwandans. The Government’s progressive visions have been the catalyst for the fast transforming economy. The President of Rwanda, Paul Kagame, has noted his ambition to make Rwanda the “Singapore of Africa.
A Country with New Opportunities
Rwanda’s economic freedom score is 71.1, making its economy the 32nd freest in the 2019 Index. Its overall score has increased by 2.0 points, led by higher scores for government integrity, the tax burden, fiscal health, and judicial effectiveness. Rwanda is ranked 2nd among 47 countries in the Sub-Saharan Africa region, and its overall score is above the regional and world averages.
The statistics explain why Rwanda has become Africa’s poster child for progress. The country has reduced reliance on donations and currently, domestically funds about 84% of the budget up from about 36% two decades ago. In the last fiscal year (2017-2018), the economy grew by 8.9%.
Barely 24 years after the horrific genocide against the Tutsi, when the East African nation lost over a million lives and the devastation left a trail of trauma and economic ruin, its achievements have often been described as miraculous.
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The Young CEO’s Business Forum, Ka Kagali-Rwanda 2019