Rwanda is banking on the full rollout of $1.675 billion worth of investments registered last year to add 38,261 jobs to the economy.
According to data released by RDB, the jobs were registered in the infrastructure, services, manufacturing, tourism, construction and real estate, agriculture, ICT and mining sectors.
“I am confident that these investments registered will have an immediate impact on the employment prospects of young Rwandans,” said Clare Akamanzi CEO Rwanda Development Board (RDB).
In 2016, RDB registered 13,477 jobs in all the eight sectors.
Rwanda’s ambition is to create 150,000 off-farm jobs annually.
According to government data the unemployment rate stands at 16.7 per cent.
Among the major projects expected to generate jobs is the $800 million Bugesera International Airport.
The airport construction is ongoing with phase one estimated to cost $400 million. Operations are expected to start in June 2020 after its completion in 2019.
“The project is at 10 per cent implementation. Currently excavation works and installation are ongoing,” said Transport deputy minister Jean de Deiu Uwinhanganye.
RDB said the sectors that attracted the most investments in 2017 are construction and real estate, mining and infrastructure.
The $1.67 billion worth of investments in 2017 was an increase of $515 million from the previous year.