Rwandan diaspora raises $8 m for investments at home

WE WILL PLAY OUR PART IN FACILITATING THE PROCESS: Rwandan Foreign Affairs Minister, Louise Mushikiwabo

WE WILL PLAY OUR PART IN FACILITATING THE PROCESS: Rwandan Foreign Affairs Minister, Louise Mushikiwabo

Rwandans living and working overseas have committed to an $ 8 million initial capital to invest in in real estate businesses back home in this come year.

The pledge was made by a group of diaspora members at the just concluded 13th Annual National dialogue which set its focus on propelling Rwanda’s development through a new vision 2050.

Alice Cyusa, the chairperson of Rwanda global diaspora revealed that Rwandans living abroad have spent days discussing ways they could actively take part in developing their nation and they have formed an investment fund to help in that endeavor.

“Through Diaspora Global Investment Fund we shall be able to invest in the local market, of which we have already set aside over eight million US dollars as initial investment capital” Cyusa said Tuesday.

To ensure the process goes as planned, Cyusa stated that Rwanda diaspora members have been encouraged to open up investment accounts locally.

Records show, last year, Rwandan diaspora remitted over $174 million to their families and relatives in Rwanda, beating coffee and tea in terms foreign exchange earnings.

Diaspora representatives however, appealed to their government for more support through foreign missions.

They said that the government should integrate them in all its programs, so that they too can be part of the investment process in Rwanda.

Rwanda’s Minister of Foreign Affairs, Louise Mushikiwabo, said that Rwandan embassies abroad will be tasked with working closely with the diaspora to ensure the success of the investment plans.

“We already have expanded our embassies and increased our global presence. Rwandans already have a good relationship with other countries and I promise that we shall follow up more on this issue” Mushikiwabo said.

The 13th national dialogue ended with 13 resolutions and commitments at the national level and Rwanda announced its new development agenda; Vision 2050 replacing current Vision 2020 which winding down in four years’ time.