Vision Media

Middle East Conflict Raises Economic Concerns for Africa, UNECA Chief Says

Administrator — 2026-04-10T07:49:59Z

The head of the United Nations Economic Commission for Africa warned that the ongoing conflict in the Middle East is straining African economies, as rising fuel prices and disrupted trade routes weigh on growth across the continent.

Ambassador Claver Gatete, UNECA's executive secretary, said continued instability in the region is driving up the cost of petroleum products, weakening national economies and complicating trade.

“The ongoing conflicts in the Middle East are affecting energy markets and trade in general, and they have significant consequences,” Gatete said.

He spoke during the 58th session of the Conference of African Ministers of Finance, Planning and Economic Development.

Gatete urged African governments to prioritize investments that improve living standards and build more resilient economies. He called for stronger efforts to accelerate sustainable development in response to recurring economic shocks.

Despite global uncertainty and widespread conflict, Gatete said new opportunities are emerging that Africa could leverage. He pointed to disruptions along key shipping routes such as the Strait of Hormuz, suggesting the continent could position itself as an alternative trade corridor connecting global markets.

He emphasized that economic policies — including public spending, borrowing and investment — should focus on transformative change that benefits citizens directly. Increasing investment alone is not enough, he said, stressing the need to improve the quality and competitiveness of projects.

Gatete also highlighted the importance of aligning financial systems with technological advancement, innovation and structural reforms.

Economists say the conflict is having a particularly strong impact on East and Southern African countries, which import about 75% of their petroleum products from the Middle East. If disruptions persist, countries in the region may be forced to seek alternative energy sources.

Rwanda's GDP Grows 9.4% in 2025 Despite Global Tensions

Mugisha R. John — 2026-03-16T17:12:15Z

Rwanda's economy expanded by 9.4% in 2025, reaching RWF 23.387 trillion, up from RWF 19.918 trillion in 2024, according to data from the National Institute of Statistics.

Services were the largest contributor to growth at 52%, followed by manufacturing at 22%, and agriculture at 20%. Quarterly performance showed a steady rise: 6.5% in Q1, 7.8% in Q2, 11.8% in Q3, and 11.2% in Q4.

The figures were released amid ongoing conflict in the Middle East involving Iran, the U.S., and Israel, which is disrupting trade with other nations, including major Arab markets that are key to Rwandan exports.

Finance and Economic Planning Minister Dr. Yusuf Murangwa said the government is taking steps to mitigate the impact. “Some of our exports are redirected elsewhere. Perishable goods like fruits and vegetables are especially affected. We are working with traders and government agencies to find alternative markets,” he said, adding that the full impact will be clearer after three months.

The government is also ensuring adequate petroleum supplies to prevent shortages of gasoline and diesel caused by global disruptions. Murangwa emphasized that Rwanda's economy is resilient, having successfully navigated past crises.

Sector-specific data showed agricultural output grew 3%, with exports up 32%, largely due to a 60% rise in coffee production and an 8% increase in tea output. In industry, mineral extraction grew 17%, while construction activity rose 11%.

Despite international uncertainties, Rwanda's economy demonstrated strong growth, driven by diversified sectors and proactive government measures to safeguard trade and energy supplies.

Foreign Investment in Rwanda Nearly Triples in Five Years

Mugisha R. John — 2026-02-26T15:54:41Z

Foreign investment in Rwanda has surged over the past five years, nearly tripling from $390.3 million in 2020 to $1.1 billion in 2024, according to a report by the National Bank of Rwanda, the National Institute of Statistics, and the Rwanda Development Board.

The industrial sector accounted for 22% of the country's gross domestic product in the 2024/25 fiscal year and continued to drive employment growth. A total of 111 new factories were established nationwide, including 84 processing agricultural and livestock products, 15 producing various goods, 10 manufacturing construction materials, and two processing minerals.

Among the new ventures is A1 Iron & Steel, which converts ore into steel at the Musanze industrial park. The company received $20 million in foreign investment and is one of several international firms entering Rwanda in recent years.

Data show that foreign investment has steadily increased each year: $548 million in 2021, $663 million in 2022, $886.9 million in 2023, and $1.1 billion in 2024. Mauritius led foreign investment in 2024 with $251.1 million, followed by Kenya at $140.3 million, China at $108.6 million, the United States at $103.9 million, and Germany at $65.3 million.

By regional blocs, COMESA countries contributed $418.6 million, OECD members $340.6 million, SADC countries $293.4 million, Asian nations $228.2 million, and the East African Community $159.1 million.

Foreign loans to Rwandan businesses also rose, reaching $543.6 million, up 28.5% from the previous year. The report noted that 60.8% of these loans came from domestic companies investing in similar foreign businesses, while 39.2% came from unrelated sectors.

Foreign investment supported 69,341 jobs in 2024, with Rwandans filling 97.6% of the positions. That compares with 59,916 jobs created by foreign investment in the previous year.

The report reflects Rwanda's growing attractiveness to international investors and the government's continued push to expand its industrial and commercial base.

Rwanda Sees Record $1.09 Billion in Foreign Investment in 2024

Administrator — 2026-02-18T08:46:56Z

Foreign investment in Rwanda surged to $1.09 billion in 2024, up from $886.9 million in 2023, according to a report released Tuesday by the National Institute of Statistics of Rwanda. The increase represents more than 1.598 trillion Rwandan francs.

The report, issued Feb. 17, shows the financial sector attracted $299.1 million, a 27.2% rise from 2023. The industrial sector drew $267.1 million, the construction sector $150.5 million, and agriculture, education, and health combined received $107.7 million.

Mauritius led foreign investment, with $251.1 million, followed by Kenya at $140.3 million, China at $108.6 million, the United States at $103.9 million, and Germany at $65.3 million.

Regionally, members of the Common Market for Eastern and Southern Africa (COMESA) invested $418.6 million. The Organization for Economic Cooperation and Development (OECD) contributed $340.6 million, the Southern African Development Community (SADC) $293.4 million, Asia $228.2 million, and the East African Community $159.1 million.

Foreign loans to Rwandan businesses reached $543.6 million, a 28.5% increase from $423 million in 2023. Domestic companies accounted for 60.8% of these loans to foreign firms, while 39.2% came from unrelated foreign companies.

More than 380 companies participated in the survey, reporting total turnover of $3.9 billion, up from $3.6 billion the previous year.

Private companies with foreign ownership of more than 10% earned profits totaling $179.5 million, slightly higher than $176.5 million in 2023. Reinvested earnings rose 34.6% to $125.4 million, while profits distributed to shareholders increased 15.2% to $38.3 million.

The foreign investment sector also contributed to employment, creating 69,341 jobs in 2024, with Rwandans making up 97.6% of those employed. In 2023, foreign investment had generated 59,916 jobs.

The report underscores Rwanda's growing appeal to foreign investors and highlights the role of both regional and international partners in the country's economic expansion.

IMF Projects Strong Economic Growth for Rwanda in 2026

Mugisha R. John — 2026-01-24T14:30:15Z

The International Monetary Fund says Rwanda is among the countries expected to post strong economic growth in 2026, with gross domestic product projected to expand by 7.2%.

Rwanda's National Institute of Statistics reported that the economy grew by 11.8% in the third quarter of 2025, up from 7.8% in the second quarter and 6.5% in the first quarter.

The services sector was the main driver of growth, contributing 57% to GDP. Agriculture accounted for 15%, while industry contributed 22%.

Across Africa, the IMF projects South Sudan will record the continent's fastest economic growth, with GDP expected to rise by 48.8%. Guinea follows with projected growth of 9.3%.

Several other countries, including Ethiopia, Benin, Niger, Côte d'Ivoire, Uganda, Tanzania and Zambia, are expected to see GDP growth ranging between 4% and 4.5%.

Rwanda Inflation Slows in October, Driven by Food and Energy Prices

Mugisha John — 2025-11-10T11:30:21Z

Rwanda's inflation eased slightly in October 2025, driven largely by rising food and energy costs, according to the National Institute of Statistics of Rwanda (NISR).

Consumer prices in urban areas increased 7.1% in October compared with the same month last year, down from 7.3% in September. The rise was largely fueled by a 1.6% increase in non-alcoholic beverages and food prices and a 16% jump in alcohol, tobacco, and related products. Housing-related costs, including water, electricity, gas, and other fuels, rose 7.5%, while healthcare costs surged 71.3%. Transportation costs increased 8.5%, and the cost of meals and accommodation rose 19.1%.

Excluding food and energy, prices in urban areas rose 9% over the past year, and 1.3% compared with September 2025. This increase was mainly driven by a 1.1% rise in non-food and non-energy items and a 4.1% increase in housing-related costs.

In rural areas, prices rose 3.8% year-on-year in October, down from 5.5% in September. Non-alcoholic beverages and food prices increased 0.8%, while alcohol, tobacco, and related products rose 14.6%. Healthcare costs in rural areas jumped 55%, and food and accommodation expenses increased 17%. Month-to-month, October rural prices increased 0.8%, mainly due to a 0.5% rise in food and non-alcoholic beverages.

Overall, combined urban and rural prices increased 5.1% in October 2025 compared with October 2024.

NISR officials noted that while inflation is still significant, the slight slowdown in October reflects easing pressures in certain sectors, including energy and food staples in the country.

Rwanda's GDP Rises to Rwf 5,798 Billion in Q2 2025

Mugisha John — 2025-09-29T12:22:13Z

Rwanda's gross domestic product (GDP) reached Rwf 5,798 billion in the second quarter of 2025, up from Rwf 4,966 billion in the same period last year, the National Institute of Statistics of Rwanda (NISR) reported.

The increase reflects growth across all major sectors, with services contributing 50%, agriculture 23%, industry 21%, and taxes 5%.

Within services, communications accounted for 5%, technical and scientific activities 3%, government administration and security 4%, cultural activities 3%, business services 9%, financial services 2%, education 3%, hotels and restaurants 4%, transport 8%, and health and social services 1%.

Agriculture saw livestock contribute 3%, forestry 4%, agricultural exports 2%, and food production 14%. In industry, construction led with 10%, while plastics, beverages and tobacco, processed foods, mining, and textiles each contributed 1–2%.

Rwanda's GDP has shown steady growth over the past five years. NISR data indicate GDP in Q2 rose from Rwf 2,383 billion in 2021 to Rwf 3,550 billion in 2022 and Rwf 4,256 billion in 2023.