Leaders Discuss Rwanda’s Example and How the Public Sector Can Pave the Way for Private Investment Across Africa
NEW YORK—In conjunction with the 74th Session of the UN General Assembly, the Centre for Public Impact and Boston Consulting Group (BCG) convened a roundtable discussion on new models to accelerate investment in Africa. The event featured remarks by Clare Akamanzi, a cabinet member and the CEO of the Rwanda Development Board (RDB), and Jay Ireland, the former president & CEO of GE Africa, and attracted leaders in private equity, social entrepreneurship, and philanthropy.
The discussion featured reflections on Rwanda’s ambitious goal of becoming a middle-income country by 2035 and its partnership with BCG to catalyze the creation of good, sustainable jobs.
“To meet their goals, it was clear Rwanda needed to step up private-sector-led growth,” says Shalini Unnikrishnan, a BCG partner and a key member of the team working with the Rwanda government. “We established joint BCG-RDB teams to rethink how to attract private investments in Rwanda and brought in agile approaches and principles to rapidly test ideas with an investor-centric lens.”
This effort led to a number of solutions codesigned with the government, including the Investment Accelerator. The Investment Accelerator empowers the Rwandan government to drive investment to entrepreneurs working in priority sectors while providing an agile, fast, and responsive experience to investors.
Dan Vogel, the North America director at the Centre for Public Impact, sees promise in this approach to drive growth across Africa. “Rwanda exemplifies the tremendous potential of public-private collaboration. The government opened itself to innovation and, in doing so, prepared the country for private investment and delivered real value to its citizens,” says Dan. “During our roundtable discussion, diverse stakeholders were excited about the approach and its potential to accelerate investment across the entire region.”
“Rwanda is open for business,” says Clare Akamanzi. “It was great to meet with investors and companies who see the potential of the private sector to contribute to Africa’s development.”
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Elysa Neumann, Centre for Public Impact
Eric Gregoire, Boston Consulting Group
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