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Business News of Friday, 5 April 2019


Kagame appoints Ghananian millionaire Chairperson of key gov’t institution

Founder and CEO, Africa Leadership Academy, Ghanaian-born Fred Swaniker has joined the pool of other global CEOs who advise President Kagame.

The 43-year-old who believes many of Africa’s problems boil down to lack of good leadership, and hopes to develop Africa’s own Steve Jobs, has been appointed by President Kagame as chairperson for Rwanda Convention Bureau (RCB), a strategic business unit of Rwanda Development Board’s Tourism and Conservation Department.

RCB is tasked with milking every little from the global tourism market, specifically targeting Meetings, Incentives, Conferences and Exhibitions (MICE), a strategy Rwanda believes will create value in the tourism sector, the country’s largest foreign exchange earner, fetching an annual average of about $500 million.

This is an area that is playing an important role in Rwanda’s growth, bringing in 15% of all tourism revenue.

MICE tourism contributed $52million in 2018, from $47million in 2017 with aim to increase it to $88 million in 2019.

Kagame brings the successful Ghanaian mogul on board as chairperson of board of directors with hope that his global business acumen will add value and help push the country’s agenda of generating more revenues from tourism.

The development comes at a time when Rwanda has just signed a promotional deal with Arsenal Football Club to advertise Rwanda under “Visit Rwanda” project as a touristic destination and a country ripe for green investment opportunities.