MR VIKRAM Chand ('Vega Foods boldly goes to 'last frontier'
Africa'; July 14), the chief executive of Vega Foods, describes
Africa as if it were one country when Africa is a continent
comprising 53 countries, each with different cultural, social,
economic and political landscapes.
Africa is analogised as an Indiana Jones movie, and described as
politically unstable, poorly infrastructured, corrupt and lacking
in transparency.
If Asia was described similarly, countries like Singapore with a
strong rule of law, modern infrastructure and political stability
will no doubt object to the arbitrary generalisation.
Mr Chand's analysis is, therefore, stereotypical rather than
factual. It does not provide an accurate account of doing business
in Africa. Mauritius, Botswana, South Africa, Namibia, Tunisia and
my country Rwanda are examples of African nations that offer a
contrary view to Mr Chand's.
Rwanda is known internationally for good governance and zero
tolerance for corruption. Its streets are as clean and safe as
Singapore's, it has excellent all-weather roads, modern
communications infrastructure and broadband Internet, with one of
the world's fastest upload speeds, matching those of Finland,
France and China.
Economically, huge investments continue to be made in improving
the business climate and the World Bank ranked Rwanda as the top
global reformer for business. I would also challenge the view that
Africa is growing at a slower pace or that when investing, prepare
for the long haul. Again, objective analysis shows expectations
vary across industries and across countries.
The average return on investment in Rwanda is more than 30 per
cent, annual economic growth over the past decade averaged 7 per
cent, with
double-digit growth in the years preceding the financial
crisis.
Prospects for this year as we emerge from the crisis are
encouraging, with a forecast of between 5.5 per cent and 7 per
cent.
The story of Rwanda is not the exception, but is part of a
growing trend in Africa, the next frontier of opportunity.
Paul Kayoboke
Acting High Commissioner
High Commission of the
Republic of Rwanda
