Rwanda's Economy

by Developed Africa 9. April 2014 09:00

Recently named first in the First African Retail Development Index for Market Opportunity from A.T. Kearney, Rwanda's economy looks to be facing a new era.

An article from the New York Times last week also highlighted Rwanda's economy for taking a new direction, and pointed out its successes over the past few years:

the economy has grown an average of nearly 8 percent over the last four years because of increased agricuktyral productivity, tourism, and government spending on infrastructure and housing."

The political state of the country may be repressive, but the economy is reaching is turning to new ways to make it boom, most significantly technology is involved in a way that Rwanda hopes will make it a technology hub for East Africa. The New York Times quotes the minister of Youth and Information Technology as saying that the economy is shifting to one of knowledge:

that's where we want to go, shifting from an agrarian base to a knowledge base, leapfrogging the industrial."

However, is it possible that this is they way in which many African countries might be moving? And the precise reason why they are not able to truly take hold of their potential, because by skipping out the industrial element, there will be no manufacturing in many African nations, and they will still be dependent on others.

But industry aside, it seems as though Rwanda is making a name for itself in a number of areas, notably in technology and retail.

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