The Ivorian website "connectionivoirienne" published a report revealing Qatar's plan to launch a new investment fund in the Rwandan capital, Kigali, worth $2 billion. This initiative aims to facilitate Qatar's expansion in Africa, particularly in countries south of the continent, covering various sectors including energy, tourism, agriculture, and infrastructure.
The report indicated that Doha's decision to focus on Kigali as a future investment hub in Africa seeks to compensate for delays in launching a similar project in the Ivorian capital, Abidjan, under the leadership of the current president, Alassane Ouattara, who is nearing the end of his political career. The aim is to divert attention to other endeavors, including promoting economic development in Africa through the Qatari investment fund.
It added that the establishment of a Qatari investment fund in Kigali does not necessarily mean abandoning the idea of creating one in Côte d'Ivoire, which remains one of Qatar's key countries in the continent. More details about this project are expected to be unveiled in the upcoming phase, which may witness the inauguration of two new investment arms in both Abidjan—characterized by strengthening investment and trade laws—and Rwanda, which has seen significant growth in all sectors, particularly in aviation.
The latter is expected to improve notably in the coming period following recent agreements signed between Rwanda and Qatar Airways, aimed at expanding Kigali Airport and acquiring a substantial stake in RwandAir, which plans to compete with Ethiopian Airlines for leadership in African air transport.
The report highlighted the possibility of the current president of Côte d'Ivoire, Alassane Ouattara, leading this project in either Abidjan or Kigali, considering his experience in African markets. It predicted the launch of the Qatari investment fund in one of the two aforementioned countries between 2022 and 2023, which will see a significant Qatari focus on expanding into African markets, especially in sectors with promising investment opportunities like energy.
