Economic Mission in Rwanda The Canadian Council on Africa is proud to announce the organization of a mission to Kigali, Rwanda, February 10th to 13th, 2013. Organized in collaboration with the Rwandan Development Board, the High Commission of Rwanda to Canada and the Department of International Relations, La Francophonie and Foreign Trade of Quebec (MRIFCE), this mission represents a unique chance to discover the many business opportunities in a country with an economic growth in many areas including: This mission aims to be a unique opportunity to shine and to showcase your company or institution by contributing positively to the Rwanda’s economic growth process. During this mission, you will be able to familiarize yourself with the country’s own business culture and meet potential business partners. This mission is for all those who are interested in business opportunities offered by Rwanda, to the Quebec and Canadian companies, consultants, investors and financial institutions, as well as educational institutions and training. During the many activities planned for this economic mission to Rwanda, you will have the opportunity to attend various seminars as well as official meetings and interact with key decision makers and economic operators through individual meetings organized.
Infrastructure (buildings, public works, energy, environment, sanitation) Education and Technical Training Agriculture Energy Tourism ICT Construction and real estate Financial Services Health
Why participate in this mission Know the priorities and projects of major international institutions that are active in Rwanda To obtain a large number of meetings in a short period of time To meet with key decision makers Establish institutional relations Because it is important to be where decisions are made and to be known by local decision makers All this enjoying unparalleled mentoring.
Rwanda Economy Report on the Rwanda’s economic situation Rwanda has made impressive progress in terms of development since the genocide and civil war in 1994. Today it consolidates its achievements in terms of social development and the acceleration of growth, ensuring that they are widely shared in order to mitigate the risk of political erosion and social stability that has been acquired at such a high price. One of its key objectives is to ensure inclusive development and provide fair service which is efficient and pro-poor, while promoting local development in a framework of good governance. Rwanda is also keen to increase the participation and empowerment of citizens, as well as transparency and accountability (from top to bottom and vice versa). This approach promoting a policy and governance inclusive and stable seems to work. The country is at peace and is one of the most stable of the continent. Rwanda’s long-term development goals are rooted in its “Vision 2020”, which aims to transform its economy based on low-income agricultural activity in a service economy based on knowledge. It provides for a real growth of 8% per year, and for this, it’s necessary : i) to deepen reforms, including the business environment ; ii) to invest in major infrastructure (electricity, transport, ICT) ; iii ) to increase the level of agricultural productivity, and iv) to invest in building the skills needed to modernize the economy. In the context of this long-term vision, the economic development and poverty reduction strategies set by the government gives the highest priority to accelerate growth in a context of job creation and export development. These strategies are based on three strategic flagship programs: The first flagship (growth-oriented) aims to provide productivity gains throughout the economy. It aims at transforming Rwanda’s economy and for all that no longer relies on subsistence farming and more on commercial agriculture and manufacturing and services. The second flagship (“Vision 2020”) aims to ensure shared growth by creating economic opportunities for the poor. There are three components: i) public works ii) credit packages and iii) direct support. nités économiques pour les plus pauvres. Il a trois composantes : i) travaux publics ; ii) enveloppes de crédit ; et iii) appui direct.
The third flagship program (focused on governance) aims to strengthen governance in terms of both political and economic, and to develop institutions and state capacity. It envisages a series of reforms to strengthen institutions and public sector capacity, and also includes the necessary elements to establish an enabling environment for business, including the strengthening of commercial justice systems, regulatory and administrative frameworks and promoting the principles of good corporate governance. The Government also recognizes the essential role played by the private sector to accelerate growth and reduce poverty, and that is why he is now seeking innovative ways to finance its development beyond the scope of traditional instruments and partners. He therefore urged reforms to improve the business climate and reduce the cost of economic activity. Having topped the reformers in the 2010 Doing Business Report, Rwanda was featured the following year in the top ten economies showing the most marked progress, in 2012, it ranks third in Africa regarding the ease of doing business. Over the past two years, Rwanda has achieved remarkably high growth performance. The rate of real GDP growth rose to 7.2% in 2010 and 8.6% in 2011, after falling 4.1% in 2009. Non-market production, including the service sector and the building, flew all combined to the growth of the mining sector. Maintaining high growth rate in services and building largely is due to the expansionary fiscal policy conducted by the government since 2006 and the significant flow of foreign aid to help finance. In 2011, the industrial sector growth outpaced services due to the sharp increase in mining and construction. Production in the mining sector has also benefited from the course record displayed by the mineral raw materials on world markets. Although its importance is diminishing, agriculture is still a mainstay of the Rwandan economy. Over the past five years, the agricultural sector contributed 35% of GDP, 73% of jobs (according to the latest household survey of 2010/11) and 45% of export earnings. Inflationary pressures reappeared in 2011 due to higher food prices and oil outbreaks, as well as in neighboring countries, food and energy were the main drivers of inflation in Rwanda. Food prices (which represent 35% of the basket of households) experienced a record increase of 15.5% in February 2012, against a decline of 2.7% in December 2010, while inflation also progressed in energy. Due to these factors, the rate of inflation unadjusted, which had historically low levels recorded in the last quarter of 2010 (0.2% in December 2010), has increased almost continuously in 2011 and reached its most levels levels since mid-2009. Core inflation rose to 9% in September 2011 and has subsequently maintained at high levels. To contain inflationary pressures, the National Bank of Rwanda (BNR) - the central bank of the country - began to raise interest rates in October 2011. However, the discount rate,
key element of monetary policy has been increased by 100 basis points to 7%, which corresponds to a negative in real terms. Core inflation has started to decline in February 2012, after the government cut fuel taxes for the second time in January 2012 in order to prevent pressure on prices energy products extend to the rest of the economy. Rwanda remains heavily dependent on financial assistance from its development partners. Approximately 40% of Rwanda’s budget is financed by foreign aid, which accounts for roughly 11% of GDP in 2010/11. This places the country in a situation of vulnerability in case of reduction of aid and especially considering the political consolidation of public finances in many of its pipes donor countries, particularly in the context of the sovereign debt crisis in the eurozone. Moreover, government revenues are among the lowest of all countries East Africa. Even if they have reached an unusual level in 2010/11 to 14% of GDP - due to an increase in direct taxes and indirect taxes, these recipes have been overtaken by spending higher than expected in all categories (except capital expenditure financed by external funds), which resulted in a widening of the deficit to 3.8% of GDP, against 0.5% in 2009/10. Finally, knowing that the exchanges of Rwanda are increasingly oriented towards its partners in the Commonwealth of East Africa, losses resulting in the perception of international tariffs are intended to continue this trend and in the revenue structure must be taken into account in future efforts to consolidate public finances.
Calendar FEBRUARY 2013 Sun
Mon
Tue
Wed
Thu
Fri
Sat
3
4
5
6
7
8
9 Evening Departure from Montreal
10 Evening Arrival in Kigali Briefing
11 Schedule
12 Schedule
13 Schedule
14 Back to MontrĂŠal
15
16
Preliminary Program Time 21:00
Sunday, February 10
Arrival in Kigali Installation at the hotel Briefing with the Rwandan Development Board
Monday, February 11 09:00
Seminar ÂŤ How to do business with RwandaÂť
13:00
(to confirm)
15:00
Individual meetings
Tuesday, February 12 09:00
Individual meetings
12:00
Meeting with the High Chamber of Commerce and Industry (to confirm)
14:00
Individual meetings
19:00
Reception at the Canada official residence
Wednesday, February 13 Day devoted to individual meetings and project visits 17:00
Debriefing
Thursday, February 14 Day devoted to individual meetings and project visits Or Sightseeing opportunities Departure for Montreal
Participation fees The participation fees are $ 1,800 for CCAfrica members and $ 2,300 for non-members. These costs cover the preparation of the program, the organization of individual meetings, some meals and local transportation, receptions and networking events. Cancellation Policy: Cancellations received after 31 January 2013 will be subject to an administration fee of 25% (plus taxes) based on the fee. Cancellations received 48 hours or less before the start of the mission will not be refunded.
Travelling Logistics The mission participants are responsible for their own travel arrangements including flights, accommodation, business visas, health insurance and precautions (vaccines, etc). CCAfrica suggest you include in your travel plans international health insurance and travel insurance high quality. CCAfrica highly recommend the services of our partner travel agency, Travel Oasis. Contact Bouchra Majdouline (514) 842-5959 and mention that you are traveling in a CCAfrica mission to benefit from our special rates! Please note that Canadian citizens need a visa to enter Rwanda. The application can easily be done online or directly to the High Commission in Ottawa. For more information, please visit the website of the High Commission of Canada to Rwanda by clicking here.
Registration Name: Billing address: Tel.: Fax: Delegate name: Title: Email: Website: Sector(s) of Focus: Emergency contact: Registration
MEMBER
$1,800
NON-MEMBER
$2,300
Payment Option SubTotal: HST: Total: Cacellation Policy
If unable to attend, a designated person is welcome at no extra charge with prior notifications. CCAfrica does not refund for cancellations. CCAfrica will make available information documentation to any registrants who’s unable to attend. CCAfrica has the right to change the programme of the conference without notice including the speakers, topics or date of the event.
Payment - Check Credit Card: Visa Credit Card Number: Expiry Date: Signature: Return by Fax
Mastercard
at (514) 387-5480 or by email at leonie.perron@ccafrica.ca. For more information, please contact Leonie Perron, Project Manager (514) 451-9232
Company Profile Please provide a short profile or your organisation (100-150 words).
Mission Objectives and Targets a)Please describe briefly your overall objective(s) for participating in this mission:
b) Please list examples of the kinds of companies, government agencies, institutions, NGOs or site visits that meeting with or visiting would help you meet your objectives:
c) If you have specific companies, officials, individuals, etc. that should be invited to events or otherwise incorporated into your mission program, please provide names and contact information.