Business
Three interesting countries to consider when investing in African retail
2. Rwanda
Rwanda, East Africa
One of the top performers in the World Bank’s ease of doing business ranking is Rwanda, moving up from 150th position to 50th between 2005 and 2011.
Though Rwanda has seen sustained economic growth since 2000, its history of violence and political instability has meant that it is still underdeveloped, especially in the retail industry.
According to Euromonitor, “retail spend per capita in 2011 was only US$35 compared to US$108 in Kenya.”
There have been a number of infrastructure developments and plans in recent years, including the development of residential areas, roads, hotels, offices and retail spaces. The Union Trade Centre, in the capital Kigali, is Rwanda’s first modern shopping mall, and has a 24-hour Nakumatt. In 2011 a second shopping centre, Kigali City Tower, was built in the same area, also anchored by Nakumatt. A new airport at Bugesera, 40km from Kigali, should be finished by 2016.
