Rwanda

Almonty Industries announced a deal with Rwanda to develop and process tungsten, with the state taking a 25% stake. For foreign entrants in mining, this points to Rwanda expecting equity participation and local processing in critical-minerals projects.

Rwanda Business Brief (citing Almonty Industries) · 2026-09-14

On 18 September the cabinet approved a Development Cooperation Policy for 2026–2050, replacing the 2006 Aid Policy. It shifts from donor projects to multi-year national flagship programmes and aims to raise more than 70% of financing through the private sector and domestic finance by 2030. It also projects about Rwf1.97 trillion in external loans for 2026/27–2028/29, so private investors and co-financiers can expect a larger role in public programmes.

Rwanda Business Brief (citing Government of Rwanda cabinet communiqué) · 2026-09-18

The Rwanda Development Board and Rwanda's High Commission in Pakistan hosted the Rwanda-Pakistan Investment Forum in Kigali on 23–25 September. The forum shows the Rwanda Development Board actively courting new-market investors in priority sectors, which is relevant to entrants looking for incentives or co-investment partners.

The Diplomatic Insight · 2026-09-23

On 24 September in Kigali, Rwanda and Pakistan signed a trade framework that is meant to lead to a preferential trade agreement and later a free trade agreement. It also sets up links between business chambers. Kigali wants Pakistani investment in agro-processing, textiles, pharmaceuticals and tourism, while Pakistani buyers want direct access to Rwandan tea, coffee, avocados and pulses.

Rwanda Business Brief (citing The New Times and Ministry of Trade and Industry) · 2026-09-24

The government said it wants trade with Oman to go beyond petroleum imports, using recently signed agreements to open investment and lift exports to the Gulf. This continues Rwanda's effort to diversify markets for its farm exports, alongside EAC and AfCFTA access.

Rwanda Business Brief (citing The New Times) · 2026-09-28

Real GDP grew 9.4% year on year in Q2 2026, up from 7.8% a year earlier. Industry grew 18%, with mining up 26% and construction up 24%, and ICT services grew 29%. Agriculture grew only 4% and export crops fell 20%. The finance minister said the Middle East conflict held growth back but did not cause fuel or essential-goods shortages, so demand is strong for entrants in construction, mining supply and digital services.

National Institute of Statistics of Rwanda (GDP National Accounts Q2 2026); The New Times · 2026-09-15

NISR data show annual inflation reached 15.7% in August, up from 14.5% in July and well above the central bank's 2–8% target, with energy inflation at 45.7%. The central bank, which raised its rate to 8.75% in late August, forecasts a 2026 fiscal deficit of 6.0% of GDP and a current-account deficit of 14.9%, partly from spending on Bugesera International Airport. For entrants this means high local borrowing costs, rising input and wage pressure, and tighter public financing for large projects.

Business Explainer (citing NISR and National Bank of Rwanda) · 2026-09-17

The National Bank of Rwanda quoted the franc at about Frw1,477.86 per US dollar on 18 September. The Rwanda Stock Exchange average was around Frw1,473.65 on 25 September, so the franc was roughly stable during the window. With a large current-account deficit and an IMF programme of about US$250 million approved in June, entrants should still budget for continued gradual depreciation when pricing imports and repatriating profits.

The Rio Times (citing National Bank of Rwanda weekly bulletin) · 2026-09-18

Fighting between Congolese forces and the M23 rebels continued in North and South Kivu during the window despite ceasefires. The DRC and Rwanda accuse each other of breaking the Washington Accords, and Burundi and Rwanda are trading accusations. Rwanda is still accused of backing M23, so the existing US and EU sanctions exposure remains, and entrants handling regional supply chains or minerals should screen counterparties carefully.

Security Council Report (October 2026 Monthly Forecast) · 2026-10-01

In early October, African Union mediators visited Goma and Kigali, and the DRC's envoy toured the region to win support for a plan to demobilise the FDLR. The US-backed Ruzizi hydropower project, which would supply power to the region, is reportedly in limbo again after a Chinese firm left the consortium.

Critical Threats (Congo War Security Review) · 2026-10-07

Bank of Kigali became the first bank in Rwanda, and the first headquartered in East and Central Africa, to join China's CIPS cross-border payment system as a direct participant. China supplied about 26.7% of Rwanda's imports in Q1 2026, so firms sourcing from China should get faster yuan settlement with fewer intermediary banks.

Rwanda Business Brief (citing Bank of Kigali) · 2026-09-22