Norway and Rwanda strengthen relationship

Christine Nkulikiyinka, the Rwandan Ambassador to Norway, yesterday presented presented her letters of credence to King Harald V of Norway.

The envoy lauded the growing and strong business relationship between Rwanda and Norway, noting that both countries still had extensive investment opportunities to explore.

During their tête-à-tête, King Harald V lauded Rwanda’s post-Genocide recovery and noted that the two countries could benefit from strengthening bilateral ties.

They accorded that sectors that offered and presented good avenues for collaboration included energy (hydropower), environment, trade and tourism as well as higher education.

With the biggest sovereign wealth fund in the world—worth close to one trillion dollars—and a GDP per capita of $73,000, Norway is one of the wealthiest countries in the world.

The Norwegian sovereign wealth fund—mostly accumulated from oil revenues—owns businesses and investments in thousands of companies across the world.

“Norway is a key partner since they not only have the know-how in sectors that are important for our economy but they also have the capital,” Nkulikiyinka said after the ceremony at Detkongelige slotroyal palace in Oslo. “Norway also provides an affluent market with prospects for ‘Made in Rwanda’ products.”

Norwegian companies (or companies with Norwegian equity) are currently invested in at least six businesses in Rwanda, including in the energy sector and hospitality. Ambassador Nkulikiyinka also had a meeting with some members of the business community to discuss opportunities in Rwanda.

The Rwandan community in Norway has also been active in investing back home through private initiatives.

(exchange)