The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Rwanda  
Rank: 83 · Score: 38.5  

Basic facts, 2020        
Population (millions) 13.0   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 10.7   M&A volume (quartile) Bottom
GDP per capita (US$) 823.5   Venture capital investments (quartile) 2nd
GDP growth (per cent) 2.0   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 83 43, 42, 41, 42, 42 38.5
1 Economic Activity 113 22, 16, 8, 11, 12 52.6
2 Depth of Capital Market 84 42, 42, 43, 42, 41 21.5
3 Taxation 47 53, 53, 41, 78, 78 96.9
4 Investor Protection and Corporate Governance 28 90, 88, 86, 96, 97 85.4
5 Human and Social Environment 48 79, 80, 80, 79, 77 34.4
6 Entrepreneurial Opportunities 94 33, 32, 27, 27, 31 35.5


 
Historic performance, 2017-2021   Key driver performance, 2021
 

   
VC/PE Rank  
VC Rank  
PE Rank
Rwanda  
Africa
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Ghana 71.2 39.5 84.3 64.5 28.1 38.8
Kenya 71.4 31.1 79.8 76.9 26.6 46.2
Namibia 44.6 39.3 85.7 75.2 32.8 33.3
Rwanda 52.6 21.5 96.9 85.4 34.4 35.5
Tanzania 74.3 15.9 54.2 59.5 29.4 37.0
Botswana 53.7 15.9 82.8 66.9 32.5 34.8
Zambia 60.7 16.9 96.1 57.4 22.4 30.4
Last updated: 21 Jun 2021