Rwanda Signs Major Deals in Energy and Tourism at Africa CEO Forum

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Rwanda made a powerful statement on the continental investment stage by signing a series of high-value investment and cooperation agreements at the Africa CEO Forum, held in Abidjan, the Ivory Coast, in May 2025. 

The agreements, concluded during a dedicated ‘Invest in Rwanda’ session on May 14, cut across strategic sectors including energy infrastructure, smart manufacturing, hospitality and tourism. financial services, and bilateral trade promotion, underscoring the country’s relentless push to become East Africa’s premier investment hub.

The deals were brokered through two of Rwanda’s most influential institutions: the Rwanda Development Board (RDB), the government agency responsible for attracting and facilitating investment, and the Rwanda Social Security Board (RSSB), which manages the country’s pension and social security assets and has increasingly emerged as a major domestic investor. The involvement of both bodies signals a coordinated, whole-of-government approach to deepening Rwanda’s integration into the global economy.

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Elsewedy Electric: A Bet on Smart Infrastructure

Among the most significant agreements signed was a Memorandum of Understanding (MoU) between RDB and Elsewedy Electric, a multinational industrial conglomerate headquartered in Egypt with operations spanning more than 40 countries. The deal supports the establishment of a manufacturing plant in Rwanda that will produce smart water and electricity meters, electric vehicle (EV) chargers, and power transformers – products that sit at the intersection of Rwanda’s energy access ambitions and its green economy roadmap.

Beyond manufacturing, the MoU also covers the development of a technical university or college, the creation of a logistics hub, and the management and expansion of Phases I and II of the Kigali Special Economic Zone (KSEZ), one of the continent’s most strategically positioned industrial parks. “This agreement represents a transformative opportunity for Rwanda to accelerate its industrialisation agenda while building the human capital needed to sustain it,” said a statement from RDB.

RDB CEO Jean-Guy Afrika and Elsewedy Group President and CEO Ahmed Elsewedy signed the agreement.

The KSEZ already houses dozens of companies across sectors, including ICT, logistics, and light manufacturing. Its expansion under this agreement is expected to attract additional tenants, create thousands of jobs, and position Rwanda as a manufacturing gateway to the wider East African Community (EAC) market of over 300 million people.

Sunrise Resorts & Cruises: Tourism Meets Clean Energy

RDB also signed a trio of agreements with Sunrise Resorts & Cruises, an Egyptian hospitality and leisure company with a strong track record across the Red Sea and Mediterranean. The first agreement covers the development of a premium hospitality resort in Rwanda, adding to the country’s growing portfolio of world-class tourism infrastructure.

Two additional Heads of Terms were signed with Sunrise Resorts & Cruises covering the development of a solar photovoltaic power plant, complete with battery storage facilities, a move that aligns with Rwanda’s Vision 2035 targets on clean energy access, and a water treatment plant, addressing one of the country’s long-term infrastructure priorities. All three agreements were signed by Jean-Guy Afrika and Sunrise Resorts CEO Hossam El Shaer.

These agreements are particularly noteworthy because they demonstrate how Rwanda is increasingly bundling tourism investment with clean energy and public utility infrastructure, creating multi-sectoral value from single investor relationships.

Strengthening Bilateral Trade: Rwanda and Benin

In a move that signals Rwanda’s growing appetite for South-South cooperation, RDB also signed an agreement with the Agence de Promotion des Investissements et des Exportations du Benin (APIEX), Benin’s investment and export promotion agency, to strengthen bilateral cooperation in investment promotion and export development. The agreement places particular emphasis on attracting foreign direct investment and enhancing trade flows between Rwanda and Benin, two of West and East Africa’s most reform-driven economies.

Jean-Guy Afrika and APIEX Director General Eric Akouté signed the deal.

A fourth RDB agreement was signed with Busara Advisors, Inc., establishing a non-binding framework for collaboration with the Government of Rwanda to support investment facilitation and advisory services. Busara Advisors, led by President Reuben E. Brigety II, a former U.S. Ambassador to South Africa, brings deep expertise in policy, geopolitics, and international investment strategy. The partnership is expected to help Rwanda refine its investment-promotion narrative for global audiences and strengthen the business case for investment in the country.

The Rwanda Social Security Board also made its mark at the Forum, signing two landmark agreements involving Cleo Capital Group Ltd and The Lux Collective that centre on the future of Akagera Game Lodge, a luxury eco-lodge situated within the iconic Akagera National Park in eastern Rwanda.

RSSB and Cleo Capital Group Ltd concluded both a Share Purchase Agreement (SPA) and a Shareholders Agreement (SHA), governing the structured sale of shares and future governance of Akagera Game Lodge. Separately, a Hotel Management Agreement was signed between Akagera Game Lodge and The Lux Collective, a globally recognised luxury hospitality management group known for managing premium properties across the Indian Ocean and beyond.

These agreements were signed by Arnaud Lagesse, Chairman of The Lux Collective, and Emmanuel Rugambwa, Chairman of the Board of Directors of Akagera Game Lodge.

The move is expected to significantly elevate the profile and operational standards of Akagera Game Lodge, drawing high-net-worth travellers and aligning with Rwanda’s premium tourism strategy, which has already made the country one of Africa’s top gorilla trekking and eco-tourism destinations.

Rwanda’s Investment Story Continues to Grow

The agreements signed at the Africa CEO Forum 2025 are the latest chapter in Rwanda’s remarkable economic transformation story. Over the past decade, Rwanda has consistently ranked among Africa’s top destinations for doing business, thanks to low levels of corruption, a stable political environment, efficient public services, and a government that actively courts investors with clear policies and streamlined processes.

With these new partnerships, Rwanda is not just inviting investment; it is actively structuring the conditions for long-term, sustainable economic growth that benefits both its citizens and its partners.

 

Frequently Asked Questions (FAQs) And Answers

1. What is the Africa CEO Forum?

The Africa CEO Forum is the continent’s leading private sector summit, bringing together heads of state, CEOs, investors, and development partners to discuss business, investment, and economic transformation across Africa. The 2025 edition was held in Abidjan, the Ivory Coast.

2. What agreements did Rwanda sign at the Africa CEO Forum 2025?

Rwanda signed multiple investment and cooperation agreements across energy, manufacturing, hospitality, investment promotion, and financial services. Key signatories included Elsewedy Electric, Sunrise Resorts & Cruises, APIEX (Benin), Busara Advisors, Cleo Capital Group, and The Lux Collective.

3. What is the Kigali Special Economic Zone (KSEZ)?

The KSEZ is Rwanda’s flagship industrial park, designed to attract manufacturers, logistics companies, and exporters by offering tax incentives, world-class infrastructure, and streamlined regulations. Its planned expansion under the Elsewedy Electric MoU is expected to create thousands of new jobs.

4. What role does the Rwanda Development Board (RDB) play?

RDB is Rwanda’s lead government agency for investment promotion and facilitation. It handles business registration, investor support, and the negotiation of key investment agreements on behalf of the Government of Rwanda.

5. What is the Rwanda Social Security Board (RSSB) investing in?

RSSB is Rwanda’s pension and social security fund manager. Through the Africa CEO Forum agreements, it is expanding its hospitality portfolio via structured transactions involving Akagera Game Lodge, Cleo Capital Group, and The Lux Collective.