It is only eight days for the sun to set on 2014. So how has been the year as far as business world is concerned? According to analysts,
2014 has been a year of lobbying, advocacy, blame game, optimism as well as pessimism and takeovers; some sort of cocktail of mixed fortunes for business community.
However, there have been numerous business-to-business joint ventures, public-private sector partnerships and buy-ins, especially in the insurance, banking and hotel sectors.
On the whole though, it has been a relatively great year for businesses, which has been crowned by an impressive a 7.8 per cent economic growth rate recorded in the third quarter. This was largely driven by a robust growth in the agriculture and service sectors, which contributed 34 per cent and 47 per cent, respectively. This was an increase from a 7.3 per cent growth rate in the second quarter.
Remember, as we start 2015, there are only three years left on the second Economic Development and Poverty Reduction strategy (EDPRS II) calendar, a key development strategy that is pivotal to the country's economic growth.
Year's gainers
In the world of telecoms, it was a huge relief for subscribers especially the business community, expatriates and parents with students studying in Uganda and Kenya, when phone roaming fees between Rwanda, Kenya and Uganda were harmonised in November. This has greatly reduced the cost of doing business and easy communication across the three Northern Corridor countries.
The ban on the importation of right hand drive commercial trucks was also lifted, giving hope to local transporters. It is however awaiting the necessary legislation to be implemented, but it will go a long way in helping the logistics sector become competitive.
According to the Minister for Trade and Industry, Francois Kanimba, the move will help truckers save up to $500 million per year. The implementation of the single tourist visa for the Northern Corridor countries on January 1 was a great boost for both the local and regional tourism industry. Despite the other barriers like terrorism that continue to plague the region especially Kenya, the sector has performed relatively well.
On the local scene, government also allocated 240 hectares of land formerly owned by Akagera Game Lodge to Akagera National Park to boost the tourism sector.
For honey exporters, a ban on the country's honey exports was lifted by the European Union, bringing hope to thousands of apiary sector players. The move is also expected to augment Rwanda's export volumes and value going forward.
Kenyan-based company, Shalimar Flowers signed a deal to develop Flower Park at Gishari in Rwamagana District to rejuvenate the country's cut flower export sector that is struggling.
Rwanda hosts AfDB meet
Rwanda hosted the 49th Annual Meetings for the African Development Bank (AfDB) and the 40th meetings of the African Development Fund (ADF) in mid-May, which was a huge boost to local tourism sector. The 2014 AfDB Annual Meetings that attracted over 3,000 participants from Africa and beyond were the major event hosted by the country this year.
RwandAir milestone
The national carrier had a great year with the International Air Transport Association (IATA) raking it among the safest airlines in the world.
RwandAir also received a certficate of safety worthiness this month after passing the IATA operational safety audit (IOSA), making it eligible to fly to any part of the world and eligible to enter into code share deals with five-star airlines without any restrictions.
source:the new time
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