Rwanda betting big on sports to drive economic growth

Rwanda is making headlines in the sports sector, with the country generating over $13 million in revenue in 2023 from hosting global sporting events. In an exclusive interview with CNBC Africa's Aby Agina, Zephanie Niyonkuru, the Sports Permanent Secretary, shed light on the investments Rwanda is making to further bolster the industry moving forward. The upcoming third edition of Ironman, set to take place on August 4th in Eruwavu, is a testament to Rwanda's commitment to becoming a prominent sporting hub. Niyonkuru emphasized the government's efforts to attract both local and international participants to the event. He highlighted the partnership between the Rwandan government and global events like Ironman 70.3, underscoring the country's readiness to host such prestigious competitions. Rwanda's success in hosting major events has contributed significantly to its economy, driving growth in tourism and event revenues. In 2022, the country witnessed a nearly 60% increase in revenue from the 27 major events it hosted, resulting in the collection of over $13 million from around 14,000 international visitors. Niyonkuru credited sports as a key factor in catalyzing economic development, citing the positive impact it has had on job creation and revenue generation. The government has made substantial investments in infrastructure and safety measures to ensure a conducive environment for both athletes and visitors. The completion of the renovated Amahoro Stadium, now capable of accommodating 45,000 spectators and equipped with state-of-the-art facilities, is a clear demonstration of Rwanda's readiness to host world-class sporting events. The stadium's certification by FIFA and World Athletics positions it as a premier venue for football and athletics competitions on the continent. Beyond stadium renovations, Rwanda has also revamped its Petit Stade to support indoor games and established a gymnasium for individuals with disabilities. Additionally, the country offers various outdoor courts to cater to diverse sporting activities. Niyonkuru extended a message to the global community and investors, inviting them to explore opportunities in Rwanda's sports sector. He emphasized the country's dedication to talent development, event hosting, and competition management, affirming Rwanda's status as a burgeoning sports destination in Africa. As Rwanda strives to leverage sports for economic growth and job creation, it aims to foster partnerships with international entities and companies seeking to capitalize on the industry's potential.