Three places that dream of becoming Africa’s Singapore
But plans for international financial centres worry tax campaigners
SMALL, LANDLOCKED and with few natural resources, Rwanda lacks an obvious route to riches. But a new international financial centre in Kigali, its capital, offers a clue to the government’s strategy. It has passed new laws to encourage investment and signed agreements with financial centres as far afield as Morocco and Belgium. The idea is to “position Rwanda as a gateway to the rest of Africa”, says Nick Barigye, chief executive of Rwanda Finance Limited, the agency that is driving the project.
This article appeared in the Middle East & Africa section of the print edition under the headline “Capital cities”
From the October 23rd 2021 edition
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