Rwanda has been positioned as the continent’s fourth-most attractive investment destination, according to RMB’s Where to Invest in Africa 2021 report.

The ranking is due to the country's strong economic performance where it has notably moved up the ranking to be the fourth from the ninth place last year.

Egypt came first, Morocco and South Africa, second and third respectively while following Rwanda are Botswana, Ghana and Mauritius in descending order.

The key pillars of national economy include tourism, transport and trade.

Business operating environment as part of the approach aimed at offering a strong basis for investors targeting real assets in an economy or looking to expand businesses that rely on physical infrastructure.

As of the end of 2020, Rwanda had registered 172 investment projects, valued at $1.2 billion despite the Covid-19, which slowed business activity, Rwanda Development Board statistics show.

Commenting on the ranking Daniel Kavishe, RMB Africa economist and author of the publication said that new approaches were adopted to create a new set of rankings that incorporated some of the unavoidable Covid-19-induced challenges.

For the indicators used, Kavishe said that fiscal score methodology was important as it indicates how governments respond to Covid-19, it said.