Ongoing investment into infrastructure development is underpinning our forecast for strong construction growth in Rwanda over our ---year forecast period, driven by the government s eagerness to transform the country into a knowledge-based economy and support from private foreign investment and international financial institutions (IFIs). Between --------- we forecast average annual industry expansion of -.- in real terms, placing the market below Ethiopia (--.- over the same period) and just above regional growth outperformers Tanzania (-.- ) and Cameroon (-.- ). ...Between --------- we forecast average annual industry expansion of -.- in real terms, placing the market below Ethiopia (--.- over the same period) and just above regional growth outperformers Tanzania (-.- ) and Cameroon (-.- ). As outlined in its national development programme - Vision ----, launched in ---- - the government is eager to steer Rwanda away from reliance on agricultural exports for economic growth and into a knowledge-based economy, with investment into the power, transport and ICT sectors central to this aim. The expansion of the power grid in particular will dominate the focus of investment flows, given its vital role in the development of Rwanda s burgeoning ICT sector - which itself is spurring activity in non- residential building. ...Investor confidence in Rwanda s development trajectory and political stability will ensure financing for projects continues, spurring robust construction growth. As highlighted by our Country Risk team, the five-year USD--mn infrastructure bond launched in February ---- was more than three times oversubscribed, indicating strong investor interest in
...Our new coverage of the Rwandan construction industry anticipates real growth of --.- in ---- and an annual average of -.- in real terms over our full ---year forecast period up to ----. While we regard the government s desire to transform Rwanda into a knowledge-based economy by ---- as too ambitious, we note the increased attention towards the development of power, transport and ICT infrastructure, supported by private foreign involvement, will stimulate robust growth in the country s construction market. ...Our new coverage of the Rwandan construction industry anticipates real growth of --.- in ---- and an annual average of -.- in real terms over our full ---year forecast period up to ----. While we regard the government s desire to transform Rwanda into a knowledge-based economy by ---- as too ambitious, we note the increased attention towards the development of power, transport and ICT infrastructure, supported by private foreign involvement, will stimulate robust growth in the country s construction market. Driving foreign investment and participation into Rwanda s construction sector is confidence in the country s development trajectory and political stability. ...Rwanda s construction market will remain one of the smallest in SSA in nominal value terms, forecasted to rise to USD-.-bn in ---- - well below industry giants Nigeria and South Africa, expected to be worth USD--.-bn and USD--.-bn respectively in the next -- years.
...Improvements to the national power supply are critical in the development of the country s ICT sector, a key driver of economic growth and at the centre of the government s plan to transform Rwanda into a knowledge-based economy. While we regard the government s aim to raise the electrification rate to -- by ---- from the current -- as too ambitious, we expect an increase in the overall rate over the coming years - particularly as funding flows from IFIs into the power sector. ...
