Investment environment
Rwanda at a Glance
A landlocked country of 13.2 million people in the East African Community, Rwanda grew 9.4% in 2025. Companies are registered online for free in hours, profits are taxed at 28% with lower rates for registered investors, and Kigali is the base for the region’s 331 million consumers.
The country
| Area | 26,338 km² |
|---|---|
| Population | 13,246,394 (2022 census), 27.9% urban |
| Capital | Kigali, 1,745,555 people |
| Official languages | Kinyarwanda, English, French and Kiswahili |
| Currency | Rwandan franc (RWF, also written FRW) |
| Time zone | Central Africa Time, UTC+2, no daylight saving |
| Independence | 1 July 1962 |
| Neighbours | Uganda, Tanzania, Burundi and the Democratic Republic of the Congo |
Source: Government of Rwanda: About Rwanda; National Institute of Statistics of Rwanda: Fifth Population and Housing Census 2022, main indicators4,2
The economy
| GDP, 2025 | RWF 23,387 billion, real growth 9.4% |
|---|---|
| Structure of GDP, 2025 | Services 52%, industry 22%, agriculture 20% |
| Growth, second quarter of 2026 | 9.4% |
| Inflation | 17.2% a year in September 2026 (urban consumer prices) |
| Central Bank Rate | 8.75% since 26 August 2026; inflation target 5%, band 2% to 8% |
| Exchange rate | About RWF 1,477 to the US dollar, November 2026 |
| Unemployment | 15.6%, August 2026 |
Source: National Institute of Statistics of Rwanda: GDP national accounts 2025; National Institute of Statistics of Rwanda: GDP National Accounts, second quarter of 2026; National Bank of Rwanda: Monetary Policy Committee press release, August 2026; National Bank of Rwanda: Home page indicators; National Bank of Rwanda: Exchange rate and inflation target; National Institute of Statistics of Rwanda: Labour Force Survey 20261,5,6,7,8,9
Why investors come
- Fast, free registration: a company is registered online by the Office of the Registrar General in about six working hours, at no government fee.
- Incentives: registered investors can pay corporate tax at 0%, 3% or 15% instead of 28%, and large projects can get tax holidays of up to seven years.
- Regional market: the East African Community has eight partner states and about 331 million citizens; Rwanda also belongs to COMESA and the African Continental Free Trade Area.
- Governance: a score of 58 out of 100 in the 2025 Corruption Perceptions Index, 41st of 182 countries.
- Plans: the NST2 strategy for 2024–2029 targets average growth of 9.3% a year and exports of USD 7.3 billion by 2029.
Source: Office of the Registrar General: Business registration; Rwanda Revenue Authority: Investment incentives for registered investors, August 2023; East African Community: Overview of the EAC; International Trade Administration: Rwanda, trade agreements; Transparency International: Rwanda, Corruption Perceptions Index 2025; Ministry of Finance and Economic Planning: Second National Strategy for Transformation (NST2) 2024–2029, abridged10,11,12,13,14,15
What to weigh
- A small, landlocked market: goods reach the sea by road through Kenya or Tanzania; a container from Mombasa costs about USD 3,500 and takes about six days.
- Inflation: prices rose fast in 2026, and the central bank has raised its rate by two points since August 2025.
- Skills: labour is available, but accountants, lawyers, engineers and technicians are in short supply.
- The region: the conflict in the eastern DRC and the closure of the border with Burundi weigh on trade.
Source: Northern Corridor Transit and Transport Coordination Authority: Northern Corridor Transport Observatory report 2025; National Bank of Rwanda: Monetary Policy Committee press release, August 2026; National Institute of Statistics of Rwanda: Labour Force Survey 2026; Transparency International: Rwanda, Corruption Perceptions Index 202516,6,9,14
Fitch and S&P rate Rwanda B+ and Moody’s B2, all with a stable outlook.17,18,19
First steps
Foreigners can own 100% of a Rwandan company. Most investors register a private limited company online with the Office of the Registrar General at RDB; the company code is also its tax and social security number. An investment certificate from the RDB One Stop Centre, for USD 500, opens the way to the incentives and to residence permits for investors.20,10,21
For details, see the fact sheets on taxes, setting up a company, residency and the economic zones.
Sources
- National Institute of Statistics of Rwanda: GDP national accounts 2025
- National Institute of Statistics of Rwanda: Fifth Population and Housing Census 2022, main indicators (PDF)
- Rwanda Revenue Authority: Basic information on Rwanda taxation, 2025
- Government of Rwanda: About Rwanda
- National Institute of Statistics of Rwanda: GDP National Accounts, second quarter of 2026
- National Bank of Rwanda: Monetary Policy Committee press release, August 2026
- National Bank of Rwanda: Home page indicators
- National Bank of Rwanda: Exchange rate and inflation target
- National Institute of Statistics of Rwanda: Labour Force Survey 2026
- Office of the Registrar General: Business registration
- Rwanda Revenue Authority: Investment incentives for registered investors, August 2023
- East African Community: Overview of the EAC
- International Trade Administration: Rwanda, trade agreements
- Transparency International: Rwanda, Corruption Perceptions Index 2025
- Ministry of Finance and Economic Planning: Second National Strategy for Transformation (NST2) 2024–2029, abridged
- Northern Corridor Transit and Transport Coordination Authority: Northern Corridor Transport Observatory report 2025
- Fitch Ratings: Fitch affirms Rwanda at B+, outlook stable, 11 September 2026
- Ministry of Finance and Economic Planning: S&P Global Ratings confirms Rwanda’s credit rating at B+/B with a stable outlook
- Ministry of Finance and Economic Planning: Moody’s revises Rwanda’s outlook to stable, affirms B2 rating
- Ministry of Trade and Industry: Law N° 007/2021 governing companies
- Rwanda Development Board: One Stop Centre, investment registration
Figures checked 9 November 2026. Prepared by InvestRwanda.com for general information. It is not investment, tax or legal advice; please confirm details with a qualified adviser before acting.
