Rwanda reels under ballooning import bill.
"To date, most initiatives for export promotion have not yielded the
expected results," a 2014/15 budget framework paper seen by Rwanda
Today that points out some of the challenges the country faces as it
seeks to become an export-led economy.
Manufacturers attribute declining exports to high cost of energy and
transport, which drive up the cost of goods.
Rwanda also produces the same commodities like Kenya, Uganda and
Tanzania, exposing the country to high competition.
"Transport alone eats into 40 per cent of the working capital of an
exporter from Rwanda," said John Bosco Kaliisa, a programme manager at
Trade Mark East Africa.
Analysts further blame the long loan acquisition process small and
medium enterprises are subjected to on the sluggish export sector
growth.
Currently, Rwanda heavily depends on traditional exports like coffee,
tea and minerals but Mr Kaliisa said there is a need to invest in
services sector.
Godfrey Kiiza, senior tax consultant at KPMG Rwanda, described the
local industries in the country as "not yet industrialised and still
produce primary products which are not consumables."
"Rwanda needs to attract more investors that can set up industries
that will produce products for local markets and manufactured products
for exports which will compete on international markets and fetch high
prices in turn yields foreign exchange earnings," he said adding that
would be investors are constrained by lack of affordable serviced
land.
http://www.google.ca/gwt/x?gl=CA&hl=en-CA&u=http://www.theeastafrican.co.ke/Rwanda/Business/Rwanda-reels-under-ballooning-import-bill-/-/1433224/2309492/-/21s1x0/-/index.html&source=s&q=Rwanda+reels+under+ballooning+import+bill&sa=X&ei=fmluU6KYGceeyATNjYG4BA&ved=0CB8QFjAA
--
SIBOMANA Jean Bosco
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