24 March 2017

Rwanda: Local Firms in Sao Tome to Explore Market Opportunities

Rwanda businesses leaders are in Sao Tome and Principe on a five-day mission to exploit new market opportunities in the central African island nation. The 30 business leaders are mainly from the ICT sector, manufacturing, construction, agro-processing, tourism and transport sectors. Rwanda is seeking new export markets in west and central Africa, as well as Asia as part of efforts geared at expanding its export volumes and revenue to bridge the growing trade deficit gap.

"Sao Tome and Principe presents exciting market opportunities for Rwandan firms. So, we organised this business trip for exporters to go and explore the market as part of the country's move to boost exports," Stephen Ruzibiza, the Private Sector Federation chief executive officer, said. The delegation of 30 business persons left for Sao Tome on Wednesday.

Gishoma Eric, the chief executive officer of Vision Technologies, an ICT firm, said he would explore the possibility of forging partnerships as the company plans to expand to the West African market.

"We have already opened up branches in East Africa where we export electronics. So, Sao Tome would be a good entry point into the region," he said.

The trip was organised by PSF, Ministry of Foreign Affairs and Rwanda Development Board.

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