The untapped opportunities Rwanda offers for business in the East African Community are enticing several manufacturers and service providers to open up businesses in the country.

When asked why they are moving to Rwanda, the business men say they expect to tap into the 7.7 per cent projected GDP growth this year which is expected to remain strong over the medium term, according to the Ministry of Finance, “averaging not less than 7.3 per cent a year in the next three years.”

Rwanda’s strategic position, the peace enjoyed in the country for over a decade and the friendly business environment are among the reasons firms exhibiting at the 15th Rwanda International Trade Fair in Kigali cite as pull factors.

“Rwanda is a secure market for Kenyan services and goods,” said Ablanus Mumo, of Kenya Export Promotion Council.

Bata, Kenya Ports Authority and Unilever are the latest Kenyan firms to open branches in Rwanda.

Kenya Ports Authority handled about 226,093 tonnes of cargo last year to Rwanda, 355,291 tonnes to Burundi and 1,899 tonnes to the Democratic Republic of Congo.

Although KPA’s interest is driven by the growing competition from Dar es Salaam port, officials said they are largely interested in bringing services closer to their clients.

The team maintains they are in Rwanda to consolidate the market, grow it further and bring services closer to their clients.

Bata, another Kenyan company, is riding on the benefits the East African Common Market, which give it a right to establish in any of the five sister countries of Rwanda, Uganda, Kenya, Tanzania and Kenya.

The harmonised tax regime in the economic bloc is another pull factor. Leather products manufactured in EAC are zero tax rated.

“We are still the market leaders because of the strong brand we have built over time and the quality products that we produce. We want to exploit the market further by opening wholesale shops in Kigali,” said Monica Githige, business development manager-export for Bata Shoe Company Kenya.

Kenyan banks Fina, Equity and KCB are among financial institutions that have already set foot in Rwanda, changing the banking landscape.

Small Rwandan firms, manufacturing home care, personal care products and food should also expect a run for their money.

Unilever, a firm that has been in this business for many years, is opening distribution centres in Rwanda.

Joy Katamba of Unilever describes the Rwandan market as a virgin one that offers a lot of opportunity for a company that needs to grow.

“As the Rwandan economy grows, the population is starting to appreciate Unilever products. We shall grow with the population,” said Ms Katamba.

There are exhibitors in engineering products, agricultural products, machinery, foods and beverages, chemical and cosmetics, farm implements, timber and furniture, textiles and garments among others.