What is the current state of Rwanda's economy?

Rwanda's economy has defied the odds and emerged as one of the best-performing in East Africa, with a projected growth rate of 6.6 percent for 2024, according to the Central Bank. Despite not reaching the previously achieved 8 percent growth, the country remains on a positive trajectory. The Central Bank has maintained its CBR rate at 7.5 percent, aiming to ensure price stability and control inflation. Kevin Karobia, an Investment Analyst at BK Capital, emphasized the positive outlook for Rwanda's economy, citing increased foreign direct investments and partnerships with multilateral lenders. The country's currency has stabilized against the U.S. dollar, reflecting economic resilience and attractiveness to investors. The financial sector merger between Equity Bank Rwanda and KCB Bank highlights the growing financial environment in Rwanda, with expectations of more mergers and consolidations in the sector. The capital markets are also poised for growth, with increased corporate bond listings and digitization efforts to enhance investor confidence. In terms of equity markets, counters like Bank of Kigali (BK Group) and Bralirwa are expected to attract higher investor interest, driven by strong financial performances and consumer spending power. As Rwanda navigates through 2024, maintaining stable credit markets will be crucial, with non-performing loans remaining below five percent, positioning the country for continued success. Despite global challenges and uncertainties, Rwanda's economy stands resilient and poised for further growth and development.