News 

Sunday, April 26, 2015 

IMF alerts Rwanda on overheads

KIGALI, Rwanda - Rwanda has been described as the most competitive country in the region, but concerns have been expressed about overhead costs.

An  International Monetary Fund (IMF) mission was recently in the  country to review Rwanda’s progress.

Led by Paulo Drummond, the Mision statement noted areas that needed attention to maintain the most competitive status in the region.

“The cost or structure of businesses which depends a lot on the cost of electricity and transport still seem to be high in Rwanda as compared to other countries in the region. There is need for further improvement if the country is to open up for private investment,” Drummond said.

He said, “Rwanda can improve on investment in human resources and the labour force to reduce on labour costs and look into the costs of financing which is on the minds of every potential investor to the extent that when such costs come down this could also open up venues for many potential businesses to come to Rwanda.”

He said these issues are interconnected. Synergies across them all will bring competitiveness in Rwanda to a higher level and more investment should be expected.

By Agnes Bateta, Sunday, April 26th, 2015